Monthly Archives: February 2010

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Gorton: Crisis was a 21st Century run on the repo market

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Yale Professor Gary B. Gorton told the Financial Crisis Inquiry Commission today that the financial crisis of 2007 and 2008 was first and foremost a bank run on the repurchase market, similar in many ways to the bank crises of … Continue reading

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Treasury Secretary Paulson: The crisis was a bank run

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Former Treasury Secretary Henry M. Paulson, Jr.’s book about the crisis, “On the Brink, Inside the race to stop the collapse of the global financial system,” has some compelling passages about the pivotal role the repurchase market played in the … Continue reading

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