# Professor Kim Schoenholtz's co-authored blog post on the 10th anniversary of the financial crisis is referenced

1 Faculty News August 9, 2017 ![Financial Times logo](/sites/default/files/styles/246w/public/assets/images/uat_025699.jpg?itok=5SpaxEbn)>

Excerpt from the [Financial Times](https://www.ft.com/content/a7547254-7c37-11e7-9108-edda0bcbc928) -- "As Stephen Cecchetti and [Kermit Schoenholtz](http://www.stern.nyu.edu/faculty/bio/kim-schoenholtz) nicely show, BNP’s halting of redemptions was followed by an immediate tightening of lending between financial institutions. Below is their graph of the Libor-OIS spread, which measures the difference between the rate at which big banks reported to be lending to one another over a measure of the safest market interest rate."

[Read more](https://www.ft.com/content/a7547254-7c37-11e7-9108-edda0bcbc928)