Maniacal deregulation

A cristal clear exposé of one of the origins (the main one, I think) of the financial crisis.

Read :

The analysis ends with a shimmer of hope. After describing the needed reforms, the author writes :

"A year ago, as the financial crisis was unfolding, it seemed very plausible that these reforms would be seriously debated in Congress. Three months ago, it appeared that Wall Street had successfully maneuvered to keep them off the table. But in Congress a recognition is now settling in that regulatory reforms on the table are failing to deal with the problems of size and industry structure -- and that there may be a severe political price to be paid for such failure. Suddenly, it seems that common sense may again be politically viable."

Let us hope that is true.

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