« Why Wall Street Reforms Have Stalled [NY Times blog] »

One year ago next week, Lehman Brothers went bankrupt, Merrill Lynch was sold and A.I.G. was rescued by a huge federal bailout.

In the wake of the global financial crisis, Congress and regulators vowed to end Wall Street’s profligate risk-taking and the compensation structures that rewarded that behavior. Yet looking back, experts say not a lot has changed in that culture, and efforts to control risk and reform executive pay have stalled.

Why is it so hard to regulate Wall Street? Has the financial industry always been better able to block government reforms than other industries?

Read the rest of this insightful debate on the New York Times blog...

Contributions by: Yves Smith, Russell Roberts, Jeffry A. Frieden, Nicole Gelinas, William K. Black, Edward Harrison, Scott Reynolds Nelson.