Hall of Mirrors Quotes

“The failure to endow Treasury and the Fed with the authority to deal with the insolvency of a nonbank financial institution was the single most important policy failure of the crisis.”
― Barry Eichengreen, Hall of Mirrors: The Great Depression, the Great Recession, and the Uses-and Misuses-of History

“Countrywide was an early adopter of information technology to process applications. By the mid-1990s, fully 70 percent of loans passing through its automated underwriting system required no human intervention.”
― Barry Eichengreen, Hall of Mirrors: The Great Depression, the Great Recession, and the Uses-and Misuses-of History

“THIS IS A book about financial crises. It is about the events that bring them about. It is about why governments and markets respond as they do. And it is about the consequences.     It is about the Great Recession of 2008–09 and the Great Depression of 1929–1933, the two great financial crises of our age. That there are parallels between these episodes is well known, not least in policy circles. Many commentators have noted how conventional wisdom about the earlier episode, what is referred to as “the lessons of the Great Depression,” shaped the response to the events of 2008–09.”
― Barry Eichengreen, Hall of Mirrors: The Great Depression, the Great Recession, and the Uses-and Misuses-of History

“Coral Gables was successful from the start.”
― Barry Eichengreen, Hall of Mirrors: The Great Depression, the Great Recession, and the Uses-and Misuses-of History

“Bryan was now paid by Merrick to stand on a platform of another kind, erected over the water, and speak not of the gold standard but of the Gold Coast.”
― Barry Eichengreen, Hall of Mirrors: The Great Depression, the Great Recession, and the Uses-and Misuses-of History