Ten Years after the Financial Crisis: A Conversation with Timothy Geithner
13 Pages Posted: 10 Sep 2018 Last revised: 18 Oct 2018
Date Written: September 5, 2018
Lehman Brothers’ failure and the vulnerabilities of the large investment banks and other nonbank financial institutions were a major part of the 2007-09 financial crisis. Ten years after the crisis, the Federal Reserve’s decisions about how to respond to the potential failures of these institutions remain among the most controversial it made during the crisis.
Note: The following questions and answers were prepared for our course on the global financial crisis at the Yale School of Management. The questions focus on the rescues and attempted rescues of Bear Stearns, Lehman Brothers, and AIG by the Federal Reserve and the Treasury.
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