Is It 1994 All Over Again?
April 25, 2011 at 10:39 AM EDT
There are several similarities between current trends and those in 1994, a year when many institutions were left destitute. Historical analogies can help us imagine what might happen, but identification of differences should be noted too. The greatest dissimilarity is probably the structure of markets. There was some official (government-sponsored) interference in 1994, the most [...]