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The Financial Crisis of 2008.IC - MIT Sloan

This case was prepared by Cate Reavis under the supervision of Deputy Dean JoAnne Yates. Copyright 2009, Massachusetts Institute of Technology. This work is licensed under the Creative Commons Attribution-Noncommercial-No Derivative Works Unported License. To view a copy of this license visit or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California 94105, USA. 09-093 Rev. March 16, 2012 The Global Financial Crisis of 2008: The Role of Greed, Fear, and Oligarchs Cate Reavis Free enterprise is always the right answer. The problem with it is that it ignores the human element.

Hedge Funds,” November 13, 2008, p. 1. 6 Simon Johnson, ... refinancings, and sales.11 The ratio that measures household debt to GDP doubled from 50% in the 1980s to 100% of GDP by the mid-2000s. The last time the level of debt was 100% of …

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