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The U.S. political brawl over the causes of the crisis. Some Critical Comments


  • Giorgio Szegö


The Final Report of the National Commission on the Causes of the Financial and Economic Crisis in the United States was released on January 27 2011. The strong political differences within the commission prevented the draft of a shared report. In addition to the majority report, two dissenting ones have been produced. I shall criticize some of their conclusions and point out some unreported facts.

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  • Giorgio Szegö, 2011. "The U.S. political brawl over the causes of the crisis. Some Critical Comments," FMG Special Papers sp198, Financial Markets Group.
  • Handle: RePEc:fmg:fmgsps:sp198

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    1. Laurent Clerc & Françoise Drumetz & Olivier Jaudoin, 2001. "To what extent are prudential and accounting arrangements pro- or countercyclical with respect to overall financial conditions?," BIS Papers chapters,in: Bank for International Settlements (ed.), Marrying the macro- and micro-prudential dimensions of financial stability, volume 1, pages 197-210 Bank for International Settlements.
    2. Plantin, G. & Sapra, H. & Shin, H S., 2008. "Fair value accounting and financial stability," Financial Stability Review, Banque de France, issue 12, pages 85-94, October.
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