a. Compare and contrast the thrift crisis of the 1980s with what you understand happened in the 2008 meltdown crisis.

b. What were some of the reasons for bank failures in 2007-2008? What were the moral hazards underlying the defaults?

Were the moral hazards due to regulatory mistakes? Or both? Explain

c. In the regulation of derivatives that existed in 2008, compare and contrast the advantages and disadvantages of contracts for derivatives over a system that permits trades of derivatives within a market.