Financial Crisis Inquiry Commission

Interesting reading

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The 600-plus page report of the US Financial Crisis Inquiry Commission should make for interesting reading for those with the patience to read it.  It would be useful to wade into the argument between the Commission, which argues that the crisis was “avoidable” and the Financial Times, which argues that it was not.  Maybe later. … Read more

Learning from our mistakes

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Let’s hope. Just as there are recurring themes in literature—and flies in the wake of a garbage truck–there a few things that we can reliably count on in the wake of a financial crisis. In the immediate aftermath comes damage control.  The central bank intervenes.  The legislature and executive agree on emergency measures.  Bankers keep … Read more