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How did it all happen? - Asymmetrical Information blog

meganmcardle.theatlantic.com — [A way to think about the financial crisis] is as a series of cognitive errors that afflicted everyone: investors, home buyers, lenders, regulators. ... standard cognitive errors that so far, no one has a very good way of eradicating....what we need is better economic theory of how these things play out, so that the regulators have better tools...

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