what factors contributed to the crisis? Pleas 2007 has had a great effect on individuals. Can you explain so out of that occurred. Address the issues of be as specific as possible and cite any cases of fraud or contributed to thol. What lax Bank practices of the housing market and explain how things could have gotten What new to the erosion of sound credit? these "New Rs or regulations have beent? What were the effects on the banking system and on individuals? . Negulations" on the banking put in place to control the situation? What are some of the effects of anking system, and how are you and I affected by it still today? Question 3: Define the various asset classes in the diagram. Be as thorough as possible in explaining the features of each security. Explain in detail the properties and risks involved in owning stock vs. fixed income securities, what returns can be expected on each asset class....etc. Give examples of derivative securities and what they represent, how and when they might be used. The detail in your answer should demonstrate your understanding of the characteristics of each security and how it differs from the other. Rank them in terms of riskiness and give an example of the asset composition that might be suitable for a young person just starting in the workforce vs, an elderly person preparing for retirement