Posted AT 3:11 AM EST on 02/10/08
Look to the Nordic bubble, not the Great Depression
Financial crises and bailouts crop up with metronomic regularity but only one, in the Nordic countries two decades ago, offers a prescription for what ails the United States - and its side effects were awful.
Federal Reserve Board chairman Ben Bernanke has spent years studying the Great Depression. Since that cataclysm, there has been the Latin American debt crisis, the savings and loan crisis and the Long-Term Capital Management crisis.
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