The title of the latest crisis book is “Reckless Endangerment”. Authors Grechen Morgenstern and Josh Rosner sat down with Aaron Task at Yahoo’s Tech Ticker to review the role of the regulators in our crisis. Theirs is a story of regulatory capture in which, under the influence of lobbyists from the housing and mortgage industry, financial regulators stripped away regulatory controls and refused to apply existing regulations.
(Video below)
Source: The Fed’s “Fatal Flaw”: Morgenson & Rosner on Why Nothing’s Changed Since the Crisis – Tech Ticker