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Lost Trust: The Real Cause of the Financial Meltdown
By Bruce Yandle
This article appeared in the Winter 2010 issue of The Independent Review

Abstract

Accounting standards, credit ratings, and credit-default swaps were created to help facilitate financial transactions by fostering trust. In the run-up to the credit-market freeze of 2008 those assurance mechanisms collapsed under the weight of political and regulatory pressures to aggressively expand homeownership and other policies.

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*Other Independent Review* articles by Bruce Yandle**
	Spring 2012	Taxpayers and Tax Spenders: Does a Zero Tax Price Matter?
	Fall 2004	Environmental Turning Points, Institutions, and the Race to the Top
	Winter 2004	Regulation by Litigation: Diesel Engine Emission Control
[View All (7)]

Volume 14 Number 3
Winter 2010

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