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- Faculty Publications (18)
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- All HBS Web (62)
- Faculty Publications (18)
- 24 Feb 2011
- Research & Ideas
What’s Government’s Role in Regulating Home Purchase Financing?
The collapse of the US housing finance system, the subprime mortgage crisis, was a key contributor to the international economic crisis ignited in 2008. What should government do to prevent such an economic... View Details
- May 2008 (Revised July 2009)
- Case
Sovereign Wealth Funds: For Profits or Politics?
By: Laura Alfaro and Renee Kim
On March 21, 2008, the U.S. government secured an agreement from two leading sovereign wealth funds (SWFs) to adopt a new set of investment principles to govern the Funds' activities. SWFs, broadly defined as an investment fund owned by a national or a government, were... View Details
Keywords: Foreign Direct Investment; Investment Funds; Sovereign Finance; Corporate Disclosure; Governing Rules, Regulations, and Reforms; International Relations; State Ownership; United States
Alfaro, Laura, and Renee Kim. "Sovereign Wealth Funds: For Profits or Politics?" Harvard Business School Case 708-053, May 2008. (Revised July 2009.)
- 28 May 2013
- First Look
First Look: May 28
widespread fraud in mortgage lender NovaStar Financial. The case is set in the time period from 2001 to 2007 and tracks the growth of the subprime industry and its collapse leading to the financial crisis.... View Details
Keywords: Sean Silverthorne
Fintech Borrowers: Lax-Screening or Cream-Skimming?
Financial markets have recently witnessed a disruptive force: the rise of online intermediaries and, more generally, fintech companies, i.e., firms that apply technology to improve financial activities. Fintech companies have targeted the consumer credit market,... View Details
- October 2008 (Revised October 2009)
- Case
New Century Financial Corporation
By: Krishna G. Palepu, Suraj Srinivasan and Aldo Sesia
After years of rapid growth and stock price appreciation, New Century Financial Corporation, one of the largest subprime loan originators in the U.S., reported accounting problems in early 2007. The resulting liquidity crisis forced the company to file for Chapter 11... View Details
Keywords: Accounting Audits; Financial Reporting; Business Model; Financial Crisis; Insolvency and Bankruptcy; Mortgages; Financial Services Industry; United States
Palepu, Krishna G., Suraj Srinivasan, and Aldo Sesia. "New Century Financial Corporation." Harvard Business School Case 109-034, October 2008. (Revised October 2009.)
- 08 Dec 2011
- Working Paper Summaries
Are There Too Many Safe Securities? Securitization and the Incentives for Information Production
- 18 Aug 2009
- First Look
First Look: August 18
macroeconomic situation and clearly pointed to the culprit in front of the Spanish Congress: "Let nobody doubt it; there is already a wide consensus about the origin of the crisis: [It is] in the U.S. and its subprime... View Details
Keywords: Martha Lagace
- 04 Mar 2009
- Op-Ed
Credit is Not the Bogey
to loan Americans money. In the housing sector, an explosion of subprime lenders gave borrowers deals that were truly too good to be true, trapping them in impossible loans. In the retail sector, credit card agencies flooded mailboxes,... View Details
- Web
Bankruptcy | Baker Library | Bloomberg Center | Harvard Business School
continued its aggressive growth strategy. Another dire sign of the state of the financial system occurred on September 7, 2008, when the government placed Fannie Mae and Freddie Mac, two government-sponsored mortgage lenders, in... View Details
- Web
The Forgotten Real Estate Boom - Bubbles, Panics & Crashes – Historical Collections – Harvard Business School
of our current subprime mortgage collapse, economists and historians interested in the role of real estate markets in past financial crises are reexamining the relationship of the first asset-price bubble of... View Details
- Web
Leadership Transitions | Baker Library | Bloomberg Center | Harvard Business School
heavily in derivatives in the form of subprime mortgages that yielded unprecedented profits. In the early 2000s, Lehman Brothers bought five mortgage lenders, including View Details
- 07 Jul 2008
- Research & Ideas
Innovation Corrupted: How Managers Can Avoid Another Enron
sums up Enron's history and its enduring legacy. Q: Can an Enron-type calamity happen again? Why or why not? A: Perverse incentives are legion throughout our system today. For example, perverse incentives for both mortgage brokers and... View Details
- 20 Apr 2011
- Research & Ideas
Blind Spots: We’re Not as Ethical as We Think
practices of their clients, who have the power to fire them if they do notice. Q: The book is full of examples of people making decisions that they thought were ethical but clearly violated their own standards for ethical behavior—for example, decisions that set the... View Details
Keywords: by Sean Silverthorne
- Web
Bubbles, Panics & Crashes – Historical Collections – Harvard Business School
the 1920s Research Links Site Credits Introduction Financial crises have happened before, and - if history is any guide - they will happen again. One year after the subprime mortgage crisis, this Baker... View Details
- 14 Jan 2019
- Op-Ed
These 4 CEOs Created a New Standard of Leadership
highest return on equity. He guided it through the 2008-09 financial crisis without a glitch by avoiding high-risk subprime mortgages and derivatives that felled so many other banks. Concerned about the... View Details
- 01 Jun 2008
- News
Greed, Gullibility, and Optimism
causes and impact of the country’s mortgage meltdown. Serving since 1998 as director of Harvard University’s Joint Center for Housing Studies, Retsinas also teaches at the Graduate School of Design and the Kennedy School of Government. A... View Details
- 01 Dec 2008
- News
No Easy Fix for the Financial Crisis
subprime crisis. “It’s hard to overstate the dramatic buildup in subprime lending by mid-decade,” he said. “Subprime lending represented a minimal share of home mortgages in... View Details
- 29 Sep 2008
- Research & Ideas
Financial Crisis Caution Urged by Faculty Panel
securities. "In 2004 and 2005 as these subprime loans started to emerge, it really wasn't a particular problem because of the lag effect, because people who couldn't pay off these mortgages with toxic... View Details
- 23 May 2018
- News
John A. Paulson, MBA 1980
1984 Joins Bear Stearns, M&A Managing Director 1988 Named Partner, Gruss Partners 1994 Launches Paulson & Co. 2007 Makes what many call the “greatest trade ever” on subprime mortgage market 2012 Contributes... View Details
Keywords: Susan Young
- 22 Feb 2022
- Research & Ideas
When Will the Hot Housing Market Finally Start to Cool?
There were a whole lot of risk factors in the Great Recession that contributed to the collapse: It was availability of credit to subprime borrowers, the syndication of these mortgages in the residential... View Details
Keywords: by Christine Pazzanese, Harvard Gazette