http://crookedtimber.org/2010/03/23/crisis-is-the-normal-state/
Lapse of regulation under Clinton and/or Bush does not necessarily explain the latest financial crisis. Thx to our friend Daniel Davies: 2007 – current crisis 2002 – Enron/Worldcom/Global Crossing crises 2000 – dot com bust 1998 – Asia/Russia/LTCM crisis 1994 – Tequila crisis 1991 – commercial real estate crisis 1987 – Black Wednesday 1985 – Savings & Loans crisis 1982 – LDC debt crisis 1975 – New York City bankruptcy 1971 – Collapse of Bretton Woods 1970 – Penn Central commercial paper crisis I'd say the Reinhart/Rogoff book is in the same spirit: bubbles are intrinsic to capitalism. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
