Global imbalances and the financial crisis
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- Master Thesis 
The thesis starts with an overview of the crisis. Expressions as prime- and subprime lending are being explained. The third chapter is the part of the thesis which tries to catch the macro perspective. The U.S. current account deficit and the inflow of capital to the U.S. are important topics here. It is also a discussion part which presents different views about the driving forces behind the global imbalances. Chapter 4 goes more into details about the developments in the financial system and the U.S. housing market. Much place is being devoted to the presentation of the securitization process and its consequences. Chapter 5 presents my views about what should be the most important lessons from the Financial Crisis.