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Lars Peter Hansen on Risk, Ambiguity, and Measurement

EconTalk

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Navigating Systemic Risk: Political Pressures and Financial Stability

This chapter explores the intricacies of systemic risk in the financial sector, using the Penn Central Railroad bailout as a historical case study. It examines the effects of political pressures on financial decision-making, the risks of politicizing financial oversight, and proposes strategies for improving resolution mechanisms to avert future crises.

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