Center for American Progress Center for American Progress
Issues Domestic & Economy Housing

Subprime Roadmap Laid Out in Gramlich's Last Act

When Kansas City Federal Reserve Chairman Tom Hoenig announced at the bank's annual conference in Jackson Hole, Wyoming, last month that someone else would read former Fed Governor Edward "Ned" Gramlich's speech on the subprime crisis, few failed to grasp the sorrowful significance.

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This article was originally published in Bloomberg.

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