Financial Markets Meltdown: What Can We Learn from Minsky

L. Randall Wray

Economics Public Policy Brief Archive from Levy Economics Institute

Abstract: According to this new Public Policy Brief by Senior Scholar L. Randall Wray, the current crisis in financial markets can be traced back to securitization (the "originate and distribute" model), leverage, the demise of relationship-based banking, and the dizzying array of extremely complex instruments that--quite literally--only a handful understand.

Date: 2008-04
New Economics Papers: this item is included in nep-fmk and nep-pke
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