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It’s not rocket science

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Dear readers, Please indulge me some personal reflection. Those of us who are trying to understand the last financial crisis, so we can prevent the next one, are often told that the next crisis will be different and unpredictable. That’s … Continue reading

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The Panic of 2007-8: What happened?

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Ten years after the Panic of 2007-8, there’s still major disagreement about what caused the financial crisis and the Great Recession. That’s the sobering revelation in a flurry of commentary written for the 10th anniversary of the Lehman bankruptcy. Lehman … Continue reading

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Bring back our crisis tools

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Editor’s Note:  The following opinion column was published today in my local newspaper, the Santa Rosa (Calif.) Press Democrat. See original column here.  Thanks.   -Mary Fricker By Mary Fricker To prevent the next financial crisis from being worse than the … Continue reading

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10 years after Lehman, in one community

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Editor’s Note:  The following news story, published today in my local newspaper, the Santa Rosa (Calif.) Press Democrat, attempts to show one way the Lehman Brothers’ bankruptcy 10 years ago, and the run on repo that followed, directly impacted a … Continue reading

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Yelling “Fire!” but no one moves

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Risk is rising in the land of shadow banking. Regulators don’t know how to track it, they don’t know what to do about it and it’s not going to end well. Those are the implications of recent reports whose authors … Continue reading

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The school of financial crises

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Something really smart is happening at the Yale School of Management. They’re training people to fight a financial crisis. (Editor’s note: You, too, can take some of this training, at no cost. See The Global Financial Crisis Project below.) After … Continue reading

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At mid-year, repo is like an ancient fable

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Today’s repurchase market is like the ancient fable of the six blind men and the elephant, where the blind men offer very different descriptions of what each saw when they touched an elephant in a different spot. The only thing … Continue reading