CSPAN Economic Policy And 2008 Financial Crisis May 24, 2014
Homeowners. You apply the moral hazard test to homeowners you did not apply to banks. No. That would be a mistake. Shocked that you would say that. This is a classic financial panic, the worst kind of crisis, different from all kinds of crises. People forget what these things cause, how damaging they are. In that context, the only way to protect people from mass unemployment is to step in and try to make sure you prevent the collapse and failure of the Financial System. That is the essential, ne...
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