Macey on the financial crisis

Wednesday, November 2, 2011
this is an image
this is an image

Jonathan R. Macey, a visiting fellow at the Hoover Institution and a member of the Institution’s Property Rights Task Force, talks about the root causes of the financial crisis. He describes the theme of his talk as being “the road to hell is paved with good intentions.” Two major sources of blame are the credit rating agencies and their inability to measure risk. Macey explains the root cause of the financial crisis as “a very poisonous cocktail of private financial market innovation mixed in a very bad way with regulation.” Click here to listen to the podcast.