Six Steps Toward Financial Reform
Posted on March 8th, 2010 by Admin
The devastating consequences of the financial crisis are all too familiar: billions of dollars and millions of jobs lost, and along with them lost confidence in the might of the American economy and the U.S. role as a global superpower. The question now is: What can we learn from the crisis and how can we prevent something like this from happening again?
Leaders in Washington are devising new regulations to govern the operations of large financial institutions. But if we’ve learned anything from the bailout of Wall Street, it’s that sensible policy making is difficult in the midst of crisis. Embracing new regulations now—while the financial industry remains in distress and emotions still run high—is the wrong strategy.