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Unraveling the Financial Crisis of 2008
Published online by Cambridge University Press: 02 April 2009
Extract
In the fall of 2008, the world economy experienced a “once-in-a-century credit tsunami” (Greenspan 2008, 1). Centered in the market for homes and mortgages, the mechanisms that unleashed this financial tidal wave are many and complex. Indeed, an inadequate grasp of modern finance on the part of “the most sophisticated investors” and regulators “in the world” was itself a contributing factor (Greenspan 2008, 3).
- Type
- In Focus: Our Political and Financial Crisis of 2008
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- Copyright © The American Political Science Association 2009
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