March 22, 2009

Why the Banking Crisis Is Far From Over | Newsweek Business |
In our forthcoming book, "This Time Is Different: Eight Centuries of Financial Folly," we compare the U.S. crisis with earlier banking-crisis episodes in Spain, Norway, Finland, Sweden, Japan, Hong Kong, Indonesia, Korea, Malaysia, the Philippines, Thailand, Colombia and Argentina over the past three decades. It may seem like hyperbole to compare the United States with emerging markets, but hard evidence suggests it is not.

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