President Bullard on the Origins of the Financial Crisis - Part 1: What Happened?

June 9, 2009

St. Louis Fed President James Bullard discusses the origins of the financial crisis. Part 1 focuses on, in broad terms, the failure of financial engineering. Almost all of the big players in financial markets were hit when the housing market turned down.

Transcript (pdf)

• Part 1: What Happened?
• Part 2: Did the Fed Leave Interest Rates Too Low for Too Long?
• Part 3: What Challenges Do We Face for Regulatory Reform?