Magical thinking: the latest regulation from the Financial Stability Oversight Council
AbstractThe financial crisis was caused not by Lehman’s failure but by a common shock to all financial institutions that were holding privately issued mortgage-backed securities based on subprime loans. The way to prevent future financial crises is to prevent future common shocks.
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Bibliographic InfoPaper provided by American Enterprise Institute in its series Working Papers with number 32665.
Date of creation: Nov 2011
Date of revision:
The central role of government in the housing boom and bust; Financial Stability Oversight Council; Financial services; Dodd-Frank Act; Economic outlook; U.S. financial regulation;
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