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- September 2018 (Revised January 2022)
- Teaching Note
Hank and Nancy: The Subprime Crisis, the Run on Lehman and the Shadow Banks, and the Decision to Bailout Wall Street
By: Alberto Cavallo and Rafael Di Tella
Teaching Note for HBS No. 718-022. View Details
- October 2017 (Revised November 2021)
- Case
Hank and Nancy: The Subprime Crisis, the Run on Lehman and the Shadow Banks, and the Decision to Bail Out Wall Street
By: Rafael Di Tella, Alberto Cavallo and Aldo Sesia
- June 2017 (Revised January 2019)
- Case
Signet Jewelers: Assessing Customer Financing Risk
By: Gerardo Pérez Cavazos, Suraj Srinivasan and Monica Baraldi
Marc Cohodes, a renowned short seller, has identified weaknesses in Signet's business strategy, which he argues is heavily reliant on providing loans to customers with subprime credit scores. He believes that the company accounts for its receivables portfolio using... View Details
- March 2013
- Case
NovaStar Financial: A Short Seller's Battle
By: Suraj Srinivasan and Amy Kaser
The NovaStar case describes the challenges faced by short seller Marc Cohodes of hedge fund Rocker Partners as he tried to expose what he thought was widespread fraud in mortgage lender NovaStar Financial. The case is set in the time period from 2001 to 2007 and tracks... View Details
Keywords: Short Selling; Financial Accounting; Financial Analysis; Financial Analysts; Valuation; Business Analysis; Financial Statement Analysis; Financial Statements; Securitization; Securities Analysis; Fraud; Accounting Quality; Accounting Red Flags; Accounting Restatements; Hedge Fund; Hedge Funds; Accounting Scandal; Accounting Fraud; Financial Crisis; Financial Intermediaries; Financial Firms; Corporate Accountability; Subprime Lending; Mortgage Lending; Accounting; Accrual Accounting; Fair Value Accounting; Governance; Governance Compliance; Corporate Governance; Governance Controls; Financial Services Industry; United States; California
- July 2012
- Case
New Century Financial Corporation (Abridged)
By: Krishna G. Palepu, Suraj Srinivasan and Ian Cornell
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
- August 2011
- Teaching Note
Subprime Crisis and Fair-Value Accounting (TN)
Teaching Note for 109-031. View Details
- 2010
- Casebook
Global Capital and National Institutions: Crisis and Choice in the International Financial Architecture
By: Laura Alfaro
All managers face a business environment in which international and macroeconomic phenomena matter. International capital flows can significantly affect countries' development efforts and provide clear investment opportunities for businesses. During the 1990s and early... View Details
- August 2009
- Teaching Note
U.S. Subprime Mortgage Crisis: Policy Reactions (TN) (A) and (B)
By: Laura Alfaro and Renee Kim
Teaching Note for [708036] and [709045]. View Details
- April 2009
- Case
The First Global Financial Crisis of the 21st Century
By: Laura Alfaro and Renee Kim
The global economy was expected to suffer from negative growth for the full year in 2009, a phenomenon not seen since World War II. While the U.S. subprime mortgage disaster was blamed as the original instigator, it was noted that the "global imbalances" of the U.S.... View Details
- April 2009 (Revised June 2010)
- Case
U.S. Subprime Mortgage Crisis: Policy Reactions (B)
By: Laura Alfaro and Renee Kim
In March 2009, the U.S. economy was in a severe recession not seen since the Great Depression after the subprime mortgage crisis had spiraled out of control. The situation had dramatically changed in one year since the Federal Reserve Board had helped to bailout... View Details
- January 2009 (Revised February 2010)
- Case
Necessity and Invention: Monetary Policy Innovation and the Subprime Crisis
By: Aldo Musacchio and Dante Roscini
This case describes the efforts of Ben Bernanke, Chairman of the Federal Reserve, to improve liquidity in money markets during the subprime crisis. The case explains the four main new tools for monetary policy (or quantitative easing) the Federal Reserve has used... 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
- October 2008 (Revised August 2009)
- Case
Subprime Crisis and Fair-Value Accounting
This case examines the challenges in implementing fair value accounting for mortgage instruments, the role of accounting in the sub-prime crisis, and proposals for revising accounting standards given the crisis. 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
- March 2008 (Revised July 2009)
- Case
U.S. Subprime Mortgage Crisis: Policy Reactions (A)
By: Laura Alfaro and Renee Kim
By March 2008, the U.S. Government and the U.S. Federal Reserve Board had taken various policy measures over the last few months to tackle the subprime mortgage crisis that threatened to drag the economy into a recession. The Bush administration approved a fiscal... View Details
- March 8, 2008
- Comment
Marketing Your Way Through a Recession
By: John A. Quelch
The signs of an imminent recession are all around us. The spillover from the subprime mortgage crisis is weakening both consumer confidence and the consumer spending—much of it on credit—that has been buoying the U.S. economy. View Details
Keywords: Marketing; Recession; Products And Sales; Core Values; Fluctuation; Volatility; Economic Growth; Economic Slowdown and Stagnation; Growth and Development; Marketing Strategy; Product Marketing; Risk and Uncertainty; Salesforce Management; Asia; Europe; Latin America; North and Central America