archive

The insane financial system lives

From the Center for Public Integrity, after the meltdown: Lauren Kyger investigates the subprime lenders, Wall Street banks and government regulators that were most responsible for the crash — and finds few if any have been held accountable. From Project Syndicate, a series of articles on the Lehman legacy, including Adair Turner on the failure of free-market finance; and Anat Admati on five years of financial non-reform. Kevin Roose on how, yes, Wall Street has changed since Lehman went bust. 5 years later, we've learned nothing from the financial crisis: Why haven't we destroyed the idea that destroyed the world? Matthew Yglesias on what we haven’t learned from the crisis: Our old theory of what to do was wrong, and we don’t have a new one (and a look at how Wall Street has changed since the crisis, but Washington hasn't). Gillian Tett on how the insane financial system lives post-Lehman. Mike Konczal on what we get wrong when we talk about “the financial crisis”: The focus on Lehman obscures the fact that there were really three crises — and biases the conversation about financial reform. Sheila Bair, former FDIC chairman, reflects on the state of the banking system today, and what comes next. Neil Irwin has the complete list of Wall Street CEOs prosecuted for their role in the financial crisis. Malcolm Harris interviews Nathan Schneider, author of Thank You, Anarchy, on what happened, what didn’t happen, and what might still happen with Occupy Wall Street (and more).