ABSTRACT
Financial crises are dramatic events. When they emerge, they tend to dominate the attention of the press and become the focus of policymakers. In one form or another, they have affected the lives of millions of people throughout the world. As references to sixteenth-century Dutch tulips, eighteenth-century South Seas merchant ventures, or 1920s Florida real estate make clear, they have been around for a long time. 1 At their worst, such as in the cases of the Great Depression or the contemporary Great Recession, their effects have been felt worldwide, with the number of people affected counted into the billions. They have at times changed the course of history.
