What we’ve already forgotten from the financial crisis

 

Source: Michael Hiltzik - L.A. Times

The recession suppressed American economic growth so severely that gross domestic product still has not recovered — and might never regain its lost output (by the reckoning of the Federal Reserve Bank of San Francisco). Because of the 2007 housing bust that prefigured the crash, median family finances also have not recovered to pre-crisis levels.

All of this prompts us to ask: What did we learn from this teachable moment? And have we already started to forget its lessons?

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