1. See Dodosh (2008).
2. See Roguski (2008).
3. See Sims (2008).
4. An asset-backed security is one whose value is based on returns from some underlying asset. In the case of mortgage-backed securities, the value is derived from cash flows generated by interest payments on an underlying pool of mortgages.
5. See Foote, Gerardi, and Willen (2012).
6. On Raines’s compensation, see Bebchuk and Fried (2005).
7. In a research article, Steven Levitt (coauthor of Freakonomics) estimates that personal ideology represented about 50 percent of the mix. See Levitt (1996).
8. Our focus will be on U.S. financial crises, so we are concerned primarily with the particular structure of U.S. policy-making institutions.
9. See ...