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9780815707554

The Great Credit Squeeze

by
  • ISBN13:

    9780815707554

  • ISBN10:

    081570755X

  • Format: Paperback
  • Copyright: 2009-08-01
  • Publisher: Brookings Inst Pr
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Summary

In 2007 and 2008, Americas financial system faced its greatest challenge in seventy years. The crisis originated in Americas subprime mortgage market and spread quickly to other debt and equity markets. Some large financial institutions failed, and others were imperiled. How could such a sophisticated financial system go so wrong and cause so much damage? Brookings senior fellows Martin Baily, Douglas Elmendorf, and Robert Litan explain what happened and put forward a specific agenda of policy actions to reduce the chance that history will repeat itself.

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