Publications

| 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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Publication Highlight

Public Policy Brief No. 156
Still Flying Blind after All These Years
The Federal Reserve’s Continuing Experiments with Unobservables
Author(s): Dimitri B. Papadimitriou, L. Randall Wray
December 2021

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