When Safe Proved Risky

Write a review of the article “When Safe Proved Risky: Commercial Paper during the Financial Crisis of 2007 – 2009” by Marcin Kacperczyk and Philipp Schnabl (http://pages.stern.nyu.edu/~sternfin/pschnabl/kacperczyk_schnabl.pdf). In your own words, explain the key points that the author was trying to communicate. Your review should be at least one page not counting the title or reference pages.

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