1. Since 1929, there were 5 great depressions, i.e. great depression, 1929-1933, Savings and Loan Association Crissis, 1984-1992,
Northern Europe Three Countries Financial Crisis, 1988-1993,Japanese Financial Crisis, 1990-2002.
and finally, Subprime Mortgage Financial Crisis, 2008-present.
2. Common causes of financial crisis were: (1) Financial Bubble caused by Lessaer-fare Policy, (2) Lack of Financial Supervision
System, (3) Sudden tight money policy shift and collapse of bubble. (4) Crisis of Financial System and Shrinkage of real
economy.
3. Suggestive countermeasures and exit strategies are: (1) Timing of Exit Policy, (2) Control of Money, (3) Reformation of Financial
Supervision System, (4) Warning System of Debt Increasing, 5)International Cooperation.
Key Words: Great Depression, Financial Crisis, Bubble, Financial
Supervision, Exit Policy
