From the Journal of Economic Perspectives, a symposium on the bailouts of 2007-2009. There clearly is reason for the folks on Wall Street to celebrate the seven years since the collapse of Lehman — they still have their jobs and many are ridiculously rich; for the rest of us, the story is not nearly as good. Jared Bernstein on the lessons of Lehman, learned and unlearned. Barry Bosworth (Brookings): Impact of the Financial Crisis on Long-Term Growth. Tom Streithorst reviews Secular Stagnation: Facts, Causes, and Cures. Nicholas Thomason reviews Masters of the Universe, Slaves of the Market by Stephen Bell and Andrew Hindmoor. Mark Thoma on why Wall Street should pay for the recessions they cause. Dodd-Frank turns 5 — it's Obama’s most underappreciated achievement. David Dayen on yet another subsidy for the big banks: If Congress really wanted to save hundreds of billions of dollars, the Fed could stop paying interest on bank reserves. Glenn Hutchins on why the Fed works: Defending the exquisite balance. To fix the Fed, simplify it.
