History 1807- Final Exam Guide - Comprehensive Notes for the exam ( 28 pages long!)

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If you do(cid:374)"t spe(cid:374)d (cid:373)o(cid:374)ey the e(cid:272)o(cid:374)o(cid:373)y (cid:449)ill (cid:272)ru(cid:373)(cid:271)le. The year 2008: george w. bush, was the president in 2001 till 2009. The financial crisis: obama was look at as a suspicion, black, young, democrat. Mortgages: home ownership was for the privilege, 1920s was the era of credit, banks were there to manage the wealthy money and give those wealthy individuals money. The financial crisis: the roots: the roots of widespread home-ownership, can be found in the great depression. I(cid:374) the late (cid:1005)96(cid:1004)"s, fa(cid:374)(cid:374)ie mae (cid:449)ould (cid:271)e pri(cid:448)atized a(cid:374)d (cid:271)e per(cid:373)itted to (cid:271)uy pri(cid:448)ate mortgages (i. e. mortgages not backed by the national housing act). Securities piece of paper that can be bought and sold on the market. Ginnie mae set up to deal with explicitly with mortgages with military veterans. 1984 the president passed the secondary mortgage market enhancement act: prevents wall street banks from buying their own mortgages and then sell them.

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