Audio: Pennacchi On Subprime Mortgage Crisis
George Pennacchi, Professor of Finance, examines the current subprime mortgage crisis in this episode of the Illini Business Podcast. Pennacchi puts the current situation in historical context, explores the roots of the issue, and outlines the effects on the broader capital markets.
Listen or Download (MP3): Subprime Mortgage Crisis
Interview Date: September 12, 2007
Length: 28 minutes
- Subprime mortgages defined.
- Discussion of previous crises in the mortgage market (1980's & 1990's) and why today's is different.
- Why bank failures are not likely to result from the current situation, unlike earlier episodes.
- Are we nearing a peak in delinquencies, or will the situation worsen?
- How the subprime mortgage market is affecting the rest of the economy.
- What impact is this having on Illinois relative to the rest of the country?
Produced By: College of Business, Communications Office
Related Information: George Pennacchi, Faculty Profile
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