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1. en.wikipedia.org › wiki › Causes_of_the_Great_RecessionCauses of the Great Recession - Wikipedia

   en.wikipedia.org › wiki › Causes_of_the_Great_Recession

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   Vor 16 Stunden · In a June 2008 speech, U.S. Treasury Secretary Timothy Geithner, then President and CEO of the NY Federal Reserve Bank, placed significant blame for the freezing of credit markets on a "run" on the entities in the "parallel" banking system, also called the shadow banking system. These entities became critical to the credit markets underpinning the financial system, but were not subject to the ...

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     Timothy Geithner: Stress Test - Reflections on Financial Crises

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