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The Financial Crisis: What Happened?

Gary Gorton, Frederick Frank Class of 1954 Professor of Management and Finance at the Yale School of Management, will speak on “The Financial Crisis: What Happened?” on Friday, October 11, at noon, in 219 Aaron Burr Hall, at Princeton University. The lecture is presented by the Princeton Institute for International and Regional Studies’ (PIIRS) research community on Global Systemic Risk.

**The event is free and open to the public. Media who would like to attend should RSVP by October 10, 2013, to Jayne Bialkowski at or 609-258-2635.**

Gorton’s research focuses include the roles of stock markets and banks, securitization, and bank regulation. He also works on corporate control issues and asset pricing theory. Gorton has consulted for the US Board of Governors of the Federal Reserve System, various US Federal Reserve banks, the Bank of England, the Bank of Japan, and the Central Bank of Turkey. His recent books are Misunderstanding Financial Crises: Why Don’t We See Them Coming? (2012) and Slapped by the Invisible Hand: The Panic of 2007 (2007). He earned his Ph.D. from the University of Rochester.

The research community is concerned with the risk of emergent disruptions in global systems — like the weaknesses in interdependent financial institutions that led to the recent financial crisis — caused by the interaction of large numbers of autonomous agents, and is coordinated by Miguel Centeno, the Musgrave Professor of Sociology, a professor of sociology and international affairs, and chair of the Department of Sociology.

About PIIRS research communities

The PIIRS research community initiative was established in spring 2011. It provides funding over three years to groups of Princeton faculty in support of research, teaching and scholarly dialogue on a common theme of broad interest within international studies that cuts across disciplines and world regions.

The annual deadline for Princeton faculty to submit research community preproposals is Feb. 15. Information is available at