Some Observers Claim That the U

question 7

Multiple Choice

Some observers claim that the U.S.Federal Reserve Board encouraged the housing and credit bubbles by:

• A)Not regulating subprime mortgages
• B)Cutting interest rates
• C)Enforcing mark to market accounting
• D)(a)and (b)
• E)(a)and (c)

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Definitions:

Impossibility of Performance

A legal doctrine where a party is released from a contract because events have occurred making it objectively impossible to perform the contract's obligations.

Subject Matter

The substance or core topic under consideration or dispute in a legal case.

Illegal

Actions or activities that are forbidden by law and subject to criminal penalties or fines.

Implied Warranty

A legal term referring to unwritten guarantees that the goods being sold meet certain quality standards.