Ashcraft, Adam B.; Bech, Morten L.; Frame, W. Scott - 2009
also triggered a loss of confidence by investors in a broad array of
structured finance products. Related selling and …-to-market accounting
rules, in turn, resulted in the recognition of large accounting losses and a material deterioration in
capital … different from what occurred during the last major global liquidity event: the Asian
financial crisis. During the fall of 1998 …