View All num of num See all Photos PNC Financial Services Group This employer has taken extra steps to respond to reviews and provide job seekers with accurate company information, photos, and reviews. Interested for your company?Learn More. www.pnc.com www.pnc.com Work in HR? Unlock Free Profile Overview Reviews Salaries Interviews Jobs Photos Benefits 1.2k Reviews 2.1k Salaries 633 Interviews 2.3k Jobs Follow Add Review or Salary Follow Add Review or Salary PNC Financial Services Group 1241 Interview Question Investment Banking Summer Analyst Interview(Student Candidate) Pittsburgh, PA PNC Financial Services Group Explain your understanding of the 2007-08 financial crisis . What were the key factors at play and what do you think could have been done to avoid it? Tags: See more , See less 8 Answer Add Tags Flag as Inappropriate Thank you! Your feedback has been sent to the team and we'll look into it. Oops! We're sorry but your feedback didn't make it to the team. Your input is valuable to us — would you mind trying again? Send Answer Interview Answer 1 Answer ▲ 0 ▼ I talked a bit about how mortgage defaults and ambiguities in the structuring of synthetic CDOs caused concern about the value of collateral used for repo transactions which led to higher haircuts and created a liquidity death spiral... I think he liked that I used the phrase liquidity death spiral. For the second part I kind of copped out and said something about hindsight bias and if the smartest people in the world didn't foresee a systemic meltdown of the financial industry there probably was no way to avoid it. Interview Candidate on Oct 7, 2013 Flag as Inappropriate Thank you! Your feedback has been sent to the team and we'll look into it. Oops! We're sorry but your feedback didn't make it to the team. Your input is valuable to us — would you mind trying again? Send Add Answers or Comments To comment on this, Sign In or Sign Up.