#financial crisis

Importantly, in the 1930s, in the Great Depression, the Federal Reserve, despite its mandate, was quite passive and, as a result, financial crisis became very severe, lasted essentially from 1929 to 1933. ↗

— Ben Bernanke

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#crisis #depression #despite #essentially #federal

Many of us like to think of financial economics as a science, but complex events like the financial crisis suggest that this conceit may be more wishful thinking than reality. ↗

— Andrew Lo

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#conceit #crisis #economics #events #financial