Finance Archives - Unfiltered insights https://isgarbos.com/category/finance/ Energy transition, credit creation, banking and finance Fri, 07 Nov 2025 19:28:07 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.3 The Spanish Banking Crisis: How Collateral Rules Turned Liquidity Problems into Economic Catastrophe https://isgarbos.com/poor-ecb-policy-turned-a-bank-crisis-into-a-sovereign-debt-crisis-in-spain/ Fri, 07 Nov 2025 14:50:06 +0000 https://isgarbos.com/?p=6946 Poor ECB Policy turned a bank crisis into a Sovereign Debt crisis, 2007-2015 Prosperity Built on Sand Spain in 2007 epitomized successful European integration. Budget surplus of 1.9% of GDP, public debt below 40%, AAA credit rating, 7.95% unemployment—the lowest since 1978—and 3.8% GDP growth painted a picture of economic triumph. Between 1997 and 2007, ... Read more

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]]> Not Fannie and Freddie: Wall Street’s Trillion-Dollar Fraud Machine https://isgarbos.com/not-fannie-and-freddie-wall-streets-trillion-dollar-fraud-machine/ Tue, 04 Nov 2025 17:18:03 +0000 https://isgarbos.com/?p=6911 Abstract This paper challenges the conventional narrative that government-sponsored enterprises (GSEs) and affordable housing policies caused the 2008 financial crisis. Through detailed analysis of the origination, securitization, and distribution chain, I demonstrate that private-label mortgage-backed securities and the unregulated credit default swap market were the primary drivers of the crisis. The evidence shows that toxic ... Read more

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