For each of the following transactions, identify
whether it occurs in a financial market or through
a financial intermediary. If the transaction occurs
in a financial market, state whether it occurs in a
primary or secondary market:
a. A bank makes a mortgage loan to a home buyer.
b. A bank sells a mortgage loan to Fannie Mae.
c. A startup company obtains financing by selling
shares of stock to investors.
d. One of the investors in a startup company
resells her holding of the company’s stock to
someone else.