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Why the Crisis?

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journal contribution
posted on 01.01.1994, 00:00 by Allan MeltzerAllan Meltzer

Predictably, Congress and much of the media are looking for evildoers to explain why the subprime mortgage market brought on a financial crisis. Just as predictably they will find some bad apples and practices and will offer new legislation to prevent repetition. And they will do their best to smear the reputations of those responsible for policy earlier in this decade.




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