8/13/2019 Financial Crises? Here is the Cure.

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Hopyreamt 26>84 Rndksm L. Gulmoijnr, Nutmor, \mk \egkikss Kssk`hk oc Ce`n`heni Xhek`hk,mttp4//vniukkrole`acniinheks.bioaspot.e`

Rnteo`niE`vkstor

HorporntkCe`n`hkSs.

Hmro`eh ho`cieht7 Ce`n`heni Hreses

8/13/2019 Financial Crises? Here is the Cure.

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Hopyreamt 26>84 Rndksm L. Gulmoijnr, Nutmor, \mk \egkikss Kssk`hk oc Ce`n`heni Xhek`hk,mttp4//vniukkrole`acniinheks.bioaspot.e`

Ce`n`heni Vin``e`a

Xtn`lnrls Bonrl Itl

Hkrtecekl Ce`n`heni

Vin``kr Bonrl ocXtn`lnrls Ce`n`heni pin``e`a

procksseo`nis mkip e`vkstors

gnjk rnteo`ni e`vkstgk`t

lkheseo`s, progotk io`a

tkrg e`vkstgk`t pin``e`a

niea`kl wetm lkce`kl aonis.

MeamkstAiobni

Xtn`lnrl

8/13/2019 Financial Crises? Here is the Cure.

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Hopyreamt 26>84 Rndksm L. Gulmoijnr, Nutmor, \mk \egkikss Kssk`hk oc Ce`n`heni Xhek`hk,mttp4//vniukkrole`acniinheks.bioaspot.e`

Rnteo`ni e`vkstors coiiow &

kxpkht io`a tkrg kquety

rktur`s ie`jkl to buse`ksspkrcorgn`hk, `ot

spkhuintevk smort tkrg prehk

8/13/2019 Financial Crises? Here is the Cure.

4/12

Hopyreamt 26>84 Rndksm L. Gulmoijnr, Nutmor, \mk \egkikss Kssk`hk oc Ce`n`heni Xhek`hk,mttp4//vniukkrole`acniinheks.bioaspot.e`

\mk resje`kss oc n` e`vkstgk`t es `otgknsurkl by bktnbut rntmkr by tmk rknso`kl

probnbeiety oc tmnt e`vkstgk`t hnuse`a ets

ow`kr n ioss oc purhmnse`a powkr ovkr mes

ho`tkgpintkl moile`a pkreol.

Qnrrk` K. Buccktt, Hmnergn`, e` n ikttkr to Xmnrkmoilkrs ocBkrjsmerk Mntmnwny, Ckbrunry 2;, 26>2

Io`a tkrg pin``e`a

gnjks smort tkrgvointeiety errkikvn`t

8/13/2019 Financial Crises? Here is the Cure.

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Hopyreamt 26>84 Rndksm L. Gulmoijnr, Nutmor, \mk \egkikss Kssk`hk oc Ce`n`heni Xhek`hk,mttp4//vniukkrole`acniinheks.bioaspot.e`

BkrjsmerkMntmnwny

Low Do`ksE`lkx

Dn`,>556 to Ckb,26>84 Rndksm L. Gulmoijnr, Nutmor, \mk \egkikss Kssk`hk oc Ce`n`heni Xhek`hk,mttp4//vniukkrole`acniinheks.bioaspot.e`

tmk opportu`ety host oc hnpetni lkpk`ls

o` tmk prodkhts bktn....Xekgk`s, n

Akrgn` e`lustreni aen`t, usks >3lecckrk`t leshou`t rntks, lkpk`le`a o` tmk

resje`kss oc knhm ie`k oc ets buse`kss.

Cu`lngk`tnis oc Horporntk Ce`n`hk, 8rl kleteo`, EXB@ 6-61-;;8>65-1, Rehmnrl N. Brkniky, Xtkwnrt H. Gykrs, Nin` D.

Gnrhus, Xtkpmk` N. Ross, Rn`loipm Q. Qkstkrcekil, BrnlcorlL. Dorln`, pnaks -

8/13/2019 Financial Crises? Here is the Cure.

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8/13/2019 Financial Crises? Here is the Cure.

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Hopyreamt 26>84 Rndksm L. Gulmoijnr, Nutmor, \mk \egkikss Kssk`hk oc Ce`n`heni Xhek`hk,mttp4//vniukkrole`acniinheks.bioaspot.e`

Botm, tmk smort-tkrg

n`l bktn nrk errkikvn`tcor opportu`ety hostoc

kquety

8/13/2019 Financial Crises? Here is the Cure.

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Hopyreamt 26>84 Rndksm L. Gulmoijnr, Nutmor, \mk \egkikss Kssk`hk oc Ce`n`heni Xhek`hk,mttp4//vniukkrole`acniinheks.bioaspot.e`

Horporntk ce`n`heni

prnhtehk ho`ciehts wetmrnteo`ni e`vkstor

kxpkhtnteo`s, brkkls

Ce`n`heni Hreses

suhm ns 266=

8/13/2019 Financial Crises? Here is the Cure.

10/12

Hopyreamt 26>84 Rndksm L. Gulmoijnr, Nutmor, \mk \egkikss Kssk`hk oc Ce`n`heni Xhek`hk,mttp4//vniukkrole`acniinheks.bioaspot.e`

....wk lo `ot ykt mnvkhogpiktk

n`l ak`krniiy nhhkptklkxpin`nteo`s cor mow ce`n`heni

gnrjktscu`hteo`......Gesprehe`a

oc nsskts gny ho`trebutk to

ce`n`heni hresks

- 26>8 @obki Kho`ogeh Xhek`hksVrezk Hoggettkk

8/13/2019 Financial Crises? Here is the Cure.

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Hopyreamt 26>84 Rndksm L. Gulmoijnr, Nutmor, \mk \egkikss Kssk`hk oc Ce`n`heni Xhek`hk,mttp4//vniukkrole`acniinheks.bioaspot.e`

Rnesks quksteo`s,

Ce`n`heni Kho`ogehs

`kvkr nsjkl

N`swkrs tmosk,

Ce`n`heni Kho`ogehs

`kvkr houil

\o prkvk`t CE@N@HENI HREXEX, n`l trn`scorg

Ce`n`heni Gn`nakgk`t crog n Huitevntkl Nrt

e`to n truiy Obdkhtevk Xhek`hk

8/13/2019 Financial Crises? Here is the Cure.

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Hopyreamt 26>84 Rndksm L. Gulmoijnr, Nutmor, \mk \egkikss Kssk`hk oc Ce`n`heni Xhek`hk,mttp4//vniukkrole`acniinheks.bioaspot.e`

mttp4//vniukkrole`acniinheks.bioaspot.e`