GGRA02H3 Lecture Notes - Lecture 6: Global Catastrophic Risk, Financialization, Making Money
Document Summary
Every time they signed someone up for mortgage, they profited. Eventually they were not concerned with loans being paid back. Hundreds and thousands of people lost their homes in 2008, 2009. Subprime crisis: one of the biggest economic crises. Circulation of money, movement of capital and assets, banks, investments, regulations. It effects our every day lives, we live in an economic global world, makes or break our economy, finance makes massive decisions that effect all of us, banks control inflation, Related to financial institutions, or people who are managing money (e. g. hedge funds) You can get anything insured in this world. 1 in every 10 dollars is going through financial currents. If you own a company, it may be worth 1 million but can be in 10 million in debts. Almost every company in this world has debt. Companies spend a lot more money investing money rather than actually putting their money towards other things (e. g. the environment)
