Randall S Kroszner: Recent events in financial markets Speech by Mr Randall S Kroszner, Member of the Board of Governors of the US Federal Reserve System, at the Institute of International Bankers Annual Breakfast Dialogue, Washington DC, 22 October 2007. *  *  *  Good morning.
In my remarks this morning, I will share my views on events in U.S. financial markets over the past several months. Specifically, I will describe what I believe were contributing factors in the breakdown of the price discovery mechanism in certain markets, and I will assess the future prospects for these markets.