If it has proved difficult for the federal government to deal with the long-term effects of the financial crisis, it is proving no less difficult for it to deal with the causes of the crisis.
The regulatory problems that led to the collapse of credit markets, though not particularly mysterious, are complicated, and solving them will be complicated too. Predictably, the financial industry is fiercely opposed to any measure that might limit its profits. In the first half of 2009, it...
The remainder of this article is only available to paid subscribers.
Print subscribers to Commonweal are entitled to free access to all premium online content. Click here to purchase a print subscription, or if you’re already a print subscriber, register now for premium access.
Online-only subscriptions provide access to all premium online articles for just $34/year. Click here to subscribe.