"Investors in 2000 looking back at the 1990s could have been pardoned for feeling euphoric. The S&P 500 (Chart 1.1) had risen 237% since 1992-a compound annual rate of 16.4%. This gain followed a plethora of troubles at the end of the 1980s-the savings & loan crisis that corresponded with...

Supported by ten years of research, Wigmore has gathered extensive data covering the 2008 financial crisis and subsequent recovery to provide the first comprehensive history of the period. Financial crises cannot occur unless institutional investors finance the bubbles that created them. Wigmore...