ABSTRACT. I will consider some of the previous writings on the materialization of the subprime crisis in 2007, the economic justification for securitization, and the behavioral aspects of the governance process. This study is grounded in the considerable body of scholarship examining urban poverty in China, determinants of tax morale, and the significance of insurance against natural hazards. pp. 209–214
JEL Classification: K33, K11, K20

Keywords: governance process, insurance protection, securitization, subprime crisis