Anatomy of a Crisis. How did we get here?
The Washington Post's Frank Ahrens looks back and breaks down the forces that led to the financial market meltdown.
Fed's approach to regulation left banks exposed to crisis
By Binyamin Appelbaum and David Cho
Washington Post Staff Writer
Monday, December 21, 2009
Foreclosures already pocked Chicago's poorer neighborhoods but the downtown still was booming as the Federal Reserve Bank of Chicago convened its annual conference in May 2007.
The keynote speaker, Federal Reserve Chairman Ben S. Bernanke, assured the bankers and businessmen gathered at the Westin Hotel on Michigan Avenue that their prosperity was not threatened by the plight of borrowers struggling to repay high-cost subprime loans.
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