The transcript of the session “Workshop Series on the 2008 Financial Crisis: The Lessons,” at the Hoover Institution, Stanford University on December 7, 2018. Chaired by John Taylor with opening presentations by Darrell Duffie and John Cochrane, followed by a general group discussion.
It has been 10 years since the financial crisis of 2008. Is the financial system safer?
Though officials, policy analysts and economists don’t agree on much, they broadly agree that the large banks are somewhat safer than they were in 2008. And the primary reason is is simple: more capital.
In the years leading up to the financial crisis that began in 2007, the core of the financial system was vulnerable to major shocks emanating from any of a variety of sources. This presentation reviews the lessons from the crisis.