brothers of Leh man
When was the Lehman Brothers founded?
1850
What does REPO stand for?
Repurchase Agreement.
What year did the financial crisis happen?
2007/2008
What is Mr. Rao's last name?
Rao
What financial loophole did the Lehman Brothers use?
REPO 105
What is a subprime mortgage?
A mortgage given to those with poor credit history.
What is a MBS?
A bundle of mortgages sold to investor. The investors would receive income based off of mortgage payments
Which Gr 12 classes does Mr. Rao teach?
Investments/Finance and Accounting
What was the largest single-day market crash prior to Lehman Brothers?
The Attacks of 9/11
Why were MBS considered low risk? (high rating AAA)
They were a bundle of mortgages with the belief that not everyone will default on their mortgage at the same time.
How were housing prices affected by the 2008 housing crisis?
They decreased significally due to the amount of foreclosures.
What university did Mr. Rao go to?
Schulich/York University
What car does Mr. Rao drive?
Ford Mustang