BW Finance Prof Go-To Source for Media "Meltdown Memories"

October 2, 2013

BW finance professor and former U.S. Treasury economist, Kevin Jacques, was a go-to media source on the 5-year anniversary of the U.S.banking meltdown that spawned the "Great Recession."

You can hear a replay of Jacques comments on the meltdown, the bailouts, the fallout and the strength of the recovery during an appearance on WCPN's Sound of Ideas.

And read his insights for the Cleveland Plain Dealer's Money Matters series on the topic.

In one of the PD articles, Jacques told reporter Theresa Murray that regulation is no cure-all preventative for future financial crises.

"One of the things that regulation cannot do is regulate or control human emotion," Jacques said. "And that's what drives people to make some of the decisions they do in financial markets. We can't regulate fear. We can't regulate greed. We can't regulate ignorance. We can't regulate hubris.

"At some point down the road, there will be another financial crisis," Jacques said. "And it probably will have the same array of human emotion."

That powerful observation also caught the eye of the Plain Dealer Editorial Board in this wrap-up to the series.