Main Points of Barberis' Article Concerning Psychological Influences on the Causes and Continuation of the Financial Crisis

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The salient points from an article by Nicholas Barberis titled Psychology and the Financial Crisis of 2007-2008 are summarized. These include the reasons behind the bubble, the reasons for over exposure on the part of the banks, and why the prices fell so quickly. One source is cited in the bibliography of this two page paper.