The devastating financial crisis that has dominated our news recently is rooted in the politics of deregulation. Over the last twenty-five years, Wall Street has been able to achieve its primary political goal: the erosion of the regulatory mechanisms put in place by the New Deal. These were government controls placed on the behavior of banks and other financial institutions to prevent conflicts of interest and deceptive practices.
Dismantling the limitations on Wall Street greed was partly achieved because the...
]]>