During the financial crisis of 2007-2009, some financial instruments that received high ratings in terms of their

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During the financial crisis of 2007-2009, some financial instruments that received high ratings in terms of their safety turned out to be much riskier than those ratings indicated. Explain why markets for other financial instruments might have been adversely affected by that development.

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Money Banking and Financial Markets

ISBN: 978-0078021749

4th edition

Authors: Stephen Cecchetti, Kermit Schoenholtz

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