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{
    "id": 165884,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/165884/?format=api",
    "text_counter": 482,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
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    "content": "Bank losses on these mortgages and particularly on the related mortgage bank securities brought a lot of stress on the financial systems in the US. This ultimately caused confidence in the banking sector to collapse because it became difficult to determine which institutions were healthy and which ones were not. As a result, lending through the inter-bank and money market ceased and credit to the private sector dried up."
}