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Lessons in The Great Depression

Appeared on August 17, 2007

“The relevance of Bernanke’s work to today is that it helps him tread the fine line of allowing individual investors — and firms, if necessary — to fail while avoiding credit market gridlock,” said Joe Mason, professor of finance at Drexel University in Philadelphia. “The message from the recent interventions is that there is no gridlock.” The message of the markets is increasingly a challenge to that optimism.