FRBNY on The Crisis

Doug Henwood dhenwood at panix.com
Tue Oct 6 07:37:09 PDT 1998

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"I believe that we are in the most serious financial crisis since World War II, and one that has a propensity to get worse rather than better."

-- William McDonough, president of the Federal Reserve Bank of New York (quoted in the Financial Times, October 6, 1998)