- efficient capital market hypothesis •
- financial crisis •
- subprime crisis •
- financial regulation
Compared to the worldwide financial carnage that followed the Subprime Crisis of 2007-2008, it may seem of small consequence that it is also said to have demonstrated the bankruptcy of an academic financial institution: the Efficient Capital Market Hypothesis (?ECMH?). Two things make this encounter between theory and seemingly inconvenient facts of consequence.