Monday, August 10, 2009

What Caused the Crisis?


One of my clients, the Roosevelt Institute, launched this open letter to the newly formed Financial Crisis Inquiry Commission. You should sign it, too! Here:

http://www.whatcausedthecrisis.com/

If we are going to move on as a nation and really build an economic structure that works for everyone, is systemically safe and is economically sustainable, we must take the first step of truly understanding how we got here. They did this in the 1930s with the Pecora Commission, and it paved the way for the important regulatory reforms of the New Deal. We must do the same today.