Problem
1. Why does debt-deflation make financial crises worse?
2. What is a credit spread? Why do credit spreads rise during financial crises?
3. How did financial innovations in mortgage markets contribute to the 2007-2009 financial crisis?
4. What principal-agent problems resulted from the originate-to-distribute mortgage lending model?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.