Harvard University Press will publish the new book "The Banks Did It: An Analysis bet365 withdrawal 2008 Financial Crisis" by Neil Fligstein, professor of sociology at the University of California, Berkeley, in June。This book attempts to introduce the rise and fall of residential mortgage securitization，To explain how the 2008 financial crisis occurred、Where to spread，Why supervisors missed warning signs，And how banks’ reliance on home mortgage securitization led to predatory lending and securities fraud。

According to Fregstein，The key point that led to the 2008 financial crisis was that major U.S. banks unanimously adopted the same business model: making profits from the securitization of residential mortgage loans。National Financial Services Corporation、Bear Stearns Company、Citibank、Major U.S. banks such as Washington Mutual are involved in various aspects of home mortgage securitization，They offer home mortgages，Issuance of residential mortgage-backed securities，Sell these securities，Many times buy back these securities。Since these banks are completely dependent on home mortgage loans，When market shocks were evident in the middle bet365 withdrawal first decade bet365 withdrawal 21st century，They can no longer change this pattern。Looking at the structural characteristics bet365 withdrawal banking industry，The occurrence of financial crisis is inevitable。

(Wang Youran/Compiled)