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Professor Frederic Mishkin on the Makings of a "Classic" Crisis

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Uploaded by on Feb 27, 2009

"The basic issue is that financial markets are the brain of the economy," Columbia Business School Professor Mishkin told students at a January 22 community forum on the economy. "They are key to an economy functioning well because they help allocate capital to productive investments. But when financial systems stop working and they can no longer allocate capital, we see what is happening now."

Read more at http://www4.gsb.columbia.edu/publicoffering/post/571159/The+Makings+of+a+Clas...

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