gorton

Learning objectives: Describe the historical background leading to the recent financial crisis. Distinguish between the two main panic periods of the financial crisis and describe the state of the markets during each. Assess the governmental policy responses to the financial crisis and review...

Learning objectives: Distinguish between triggers and vulnerabilities that led to the financial crisis and their contributions to the crisis. Describe the main vulnerabilities of short-term debt especially repo agreements and commercial paper. Assess the consequences of the Lehman failure on the...