HKS Affiliated Authors


A Financial System Still Dangerously Vulnerable to a Panic, Hal Scott, March 1, 2015, Opinion. "Dodd-Frank restrictions on the Federal Reserve’s powers to act as lender-of-last-resort, coupled with restrictions on federal guarantees for bank deposits and money-market funds, pose a threat to U.S. and global financial stability. The heart of the 2008 crisis was a panic following the bankruptcy of Lehman Brothers..." May require purchase or user account. Link