CIAO DATE: 05/2010
September 2009
American Enterprise Institute for Public Policy Research
Given the relative complacency of markets, the Fed, and other central banks during the period running up to the collapse of Lehman Brothers and even in the midst of the July 2008 crisis involving Fannie Mae and Freddie Mac, it is worth asking what lessons have been learned over the last year and, in particular, as a result of the wrenching dislocations following the collapse of Lehman Brothers. I hope this will provide guidance for a quicker policy response in future crises.
Resource link: Three Lessons from the Financial Crisis [PDF] - 96K