Connectedness and Contagion

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The book presents a compelling argument that contagion poses the greatest threat to the financial system, emphasizing its potential to escalate crises. It critiques the Dodd-Frank Act, asserting that its regulations have diminished the government's capacity to respond effectively to such risks. Through detailed analysis, the author highlights the vulnerabilities within the current financial framework and advocates for a reevaluation of policies to better manage systemic threats.