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Your team is an independent panel hired by the Chairman of the Finance Committee of the House and Senate to investigate the Subprime Mortgage Crisis, its aftermath, and the 2020 stock market crash. In 10 weeks, you will report your findings to the Committee.
The written report to the Committee is to include:
Part I (50%)
1. Summarize the subprime mortgage crisis and its aftermath in a chronological format, highlighting only significant events that occurred. Be sure to include the starting point, as you see it.
2. Outline the role that each party played in the subprime mortgage crisis. Identify the names of the companies that played a major role and briefly provide an update of their present status:
a. Mortgage companies/ brokers
b. Subprime borrowers
c. “Money center” banks
d. Investment bankers
e. Mortgage credit insurers (Freddie Mac, Fannie Mae, Ginnie Mae)
f. Credit rating agencies (the big 3)
g. Investors (Pension funds, hedge funds, global investors)
3. Identify the winners and losers from this financial event. Clearly state your reasons.
When you prepare your report, you should follow these rules and guidelines:
1. The report must be prepared with a word processor and consist of summaries and recommendations for Part I and Part II listed above. The margins of your report should be 1″ on all sides. Use 12-point font. Each page of the body of your report must have a footer that indicates your group number and page number. You should understand that your grade is a function of the quality of your work and not the number of pages you write.
If you want to use tables and figures to support your arguments, make sure that these tables and figures have a title. Readers of your report should be able to understand what is presented in the tables or figures without referring to the text. You can include footnotes in your tables and figures to indicate data sources or to explain the definition of variables. Your graphs must be of high-quality.