WHATEVER HAPPENED TO US
A simplified view of the causes of the recent panic
The financial panic that ravaged global financial markets in the last few weeks may have had some justification. But, to a fair extent, it was aggravated by a fuzzy understanding of the nature of the credit and liquidity problem. So, at the risk of oversimplifying, here is my attempt to clarify the matter. ”
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François Sicart
23 Oct 2008
New York, NY 10019