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How did problems in a relatively small portion of the home mortgage market trigger the most severe financial crisis in the United States since the Great Depression? Several developments played a role, including the proliferation of complex mortgage-backed securities and derivatives with highly...
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This article is a modified and updated version of a speech presented at the Regional Economic Summit, Evansville, Indiana, November 20, 2008.
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Regional Economic Summit, Evansville, Ind., Nov. 20, 2008
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Memphis, Tenn., Oct. 14, 2008
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Indiana University, Bloomington, Ind., Oct. 2, 2008
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The Henry Thornton Lecture, Cass Business School, London. March 24, 2009
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Memphis, Tenn., Oct. 14, 2008
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