Public Policy Brief Highlights No. 94A | April 2008

Financial Markets Meltdown: What Can We Learn from Minsky?

According to 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 a dizzying array of extremely complex instruments that—quite literally—only a handful understand.

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