Financial crises and market regulation

Jerry L. Jordan

Economic Commentary, 1999, issue Oct

Abstract: Financial crises typically arise from mismanagement by governments which seek, usually with the most sincere and honorable intentions, to reduce or eliminate some constituent's risk exposure. But risk cannot be eliminated, only redistributed. Mr. Jordan, president and chief executive officer of the Federal Reserve Bank of Cleveland, recently discussed this problem at the Eighth Annual Financial Markets Conference, held at the Federal Reserve Bank of Atlanta.

Keywords: Financial; crises (search for similar items in EconPapers)
Date: 1999
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