Frustrated by the seeming inability of regulators and prosecutors to hold bank executives to
account for losses inflicted by their companies before, during, and since the financial crisis of …

Over the last decade, a consensus has emerged among policymakers and academics that
systemic risk is not confined to the traditional banking sector. 1 Instead, contrary to …

There is an increasing worldwide regulatory focus on trying to end the problem of too big to
fail (TBTF)': that systemically important financial firmS 2 might engage in excessive risk …

With the 2016 election of President Trump, the fate of the fledgling Consumer Financial
Protection Bureau (CFPB or the Bureau) hung in the balance. Would the Bureau be …

The Great Depression upended economics orthodoxy. Before the 1930s, economists
typically studied the fiscal decisions of individuals, households, and companies-a field now …

Why do firms take excessive risks that result in failure? Moral hazard theorists argue that the
answer lies in the risk-boosting effects of the government safety net, which insulates firms …

Scholars often portray financial regulators as eternal followers of the private sector, ever
struggling to" keep pace" with technological change.'While this image captures the difficulty …

After the 2008 financial crisis, Congress required residential mortgage lenders, before
extending credit, to first make a reasonable determination of applicants' ability to repay. 1 …

In economics literature, public policies are often compared to the benchmark of a benevolent
regulator-one that maximizes social welfare while balancing the interests of all affected …

The internationalization of China's Renminbi will be a game changer to the global finance
and politics, and its success thus far has been evidenced by the International Monetary Fund …