The Subprime Mortgage Crisis

Abstract

This study is an analysis of the causes and effects of the subprime mortgage crisis with a specific focus on the role that residential segregation and discriminatory practices played and the impact that the financial crisis had on the American South. The project delves into the inner workings behind the financial crisis and the distinctive roles of mortgage lenders, investment banks, and other financial institutions in the magnification and extension of credit risk around the world through the United States' housing and financial markets.
 Many college professors were interviewed for this project, including Gary Hoover, a professor at Tulane University and the Executive Director of the Murphy Institute. He was also invited to speak at the first Nobel Peace Prize Summit to speak on the subject of the "Economics of Inequality." Two other professors who were interviewed for the article are Daniel Keniston, an assoicate professor at LSU's Department of Economics, and Brian Andrews, a senior instructor in LSU's Department of Finance, Executive Director of LSU's Real Estate Research Institute and Commerical Banking Initiative, and the Principal of Andrews Commercial Real Estate Services.
 The purpose of this project is to discover the most critical effects of the financial breakdown, the extent to which repercussions were disproportionate in Black and other minority communities, and the social outcomes of the subprime mortgage crisis on the American South. This study delves into an important piece of American history and attempts to uncover the subtleties of the U.S. housing and financial markets.