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2020-09-15 12:37:39
The four mistakes of 2007-2008:

1. Underreaction to labor market indicators
2. Overemphasis on oil prices
3. Scope creep into attempts to manage housing prices
4. Constricted credit for the general public even as financial institutions got emergency lending
The constricted credit was I think a huge overreaction to the criminally unrestricted credit immediately leading up to the crisis. That needed regulatory solution not market.