Tuesday, September 7, 2010

Bernanke's Assessment Of the Causes Of The Recent Financial Crisis

From Federal Reserve Chairman Ben Bernanke's testimony, "Causes of the Recent Financial and Economic Crisis" before the Financial Crisis Inquiry Commission, September 2, 2010:
In discussing the causes of the crisis, it is essential to distinguish between triggers (the particular events or factors that touched off the crisis) and vulnerabilities (the structural weaknesses in the financial system and in regulation and supervision that propagated and amplified the initial shocks).
Read his entire prepared testimony as a PDF here.

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