Banking Law Essay on the Global Financial Crisis

In 2008, America was on the brink of financial disaster. Unemployment rates reached their highest levels in two decades. Homeowners were increasingly defaulting on their loans since 2006 all because of the mortgage-backed security, otherwise known as MBS, which are simply home loads sold as shares to investors. The MBS was created by lewis raneri, who has no involvement in how the MBS would be abused in the coming years. Lewis Ranieri was criticised with the concept of securitisation of the financial world with his creation of the MBS, as it was linked to the 2008 housing market bubble.

The rating agencies gave these packages (MBS) a high rating because the banks essentially blackmailed them with money. The better rating the banks got on the 'MBS' packages, the higher the payout the agencies would get for giving them a higher rating. The complex ordeal leads to the decline of the western world economy and the global stock market plummeted as an effect.

This direct correlation between america is a knock on effect to the UK economy so therefore they are linked. This topic is actually very very diverse because the MBS was filled with other packages known as 'Sub-primes' and those Sub-primes was filled with even MORE packages, which is why i suggest you properly research into this topic. I suggest you watch "the big short". Its an excellent movie that is based on a true story about the financial crash of 2008 and will give you more insight about the financial crash, plus its a movie. Who can say no to a movie while studying?! hope this was of some help!

While this is all helpful background, it doesn't actually answer the question in the original post. @RandomUniStu23, I would suggest you start with this briefing paper from 2016 from the BBA, which sets out some of the regulatory and supervisory changes made in response to the financial crisis. Don't set too much store by the sunshine and rainbows picture they have painted, and bear in mind this is from a few years ago so more has been done since then, but it's a helpful starting point: https://www.bba.org.uk/news/reports/bba-briefing-reforms-since-the-financial-crisis/#.YB1ycmT7T0o

While this is all helpful background, it doesn't actually answer the question in the original post. @RandomUniStu23, I would suggest you start with this briefing paper from 2016 from the BBA, which sets out some of the regulatory and supervisory changes made in response to the financial crisis. Don't set too much store by the sunshine and rainbows picture they have painted, and bear in mind this is from a few years ago so more has been done since then, but it's a helpful starting point: https://www.bba.org.uk/news/reports/bba-briefing-reforms-since-the-financial-crisis/#.YB1ycmT7T0o

Hi do you know EU law?

Does EU member states prevent national authorities of EU member states from making marriages between nationals of host member states and other EU member states conditional on nationals of EU member states paying a notification fee (and/or being tested negative for COVID-19).

It’s okay if you can’t answer it Idk why my professors would even give these long questions

I assume the first time you said “Does EU member states”, you meant “does EU law...”?

As I said it’s a long way from my area of expertise, but I would interpret this as a question about Member States’ ability to derogate from an EU charter right (the right to marry). In other words, the EU charter safeguards certain fundamental rights of EU citizens, including the right to marry. So has the ECJ said anything about the ability of member state governments to interfere with / derogate from that right (for example, by charging fees, or making people have covid tests). I have no idea what the answer is, but that’s how I would approach it.