Center for American Progress

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.

Read more here.

The positions of American Progress, and our policy experts, are independent, and the findings and conclusions presented are those of American Progress alone. A full list of supporters is available here. American Progress would like to acknowledge the many generous supporters who make our work possible.