Lessons from the financial crisis

Hyun Song Shin interviewed by Romesh Vaitilingam, 4 Sep 2009

Hyun Song Shin of Princeton University talks to Romesh Vaitilingam about the role of securitisation, mark-to-market accounting and banks’ incentives in the current financial crisis, making an analogy between the feedback mechanisms that made London’s Millennium Bridge wobble dramatically when it was first opened and those that operate within the modern financial system. The interview was recorded in Princeton in August 2009.

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See Also

Background on the Millennium Bridge here.

Transcript

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Topics: Financial markets, Macroeconomic policy
Tags: mark-to-market, securitisation

Princeton University and CEPR

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