Analyzing the Credit Crisis: Was the SEC Missing in Action
Sometime in the next decade, an economic historian will write the definitive account of the 2008 credit crisis. The extent to which there was a regulatory failure is a critical issue that such a history must face. Indeed, this issue is sufficiently pressing that even at this early point it needs to be addressed. What responsibility does the SEC bear for not resisting the steady slide of the major investment banks into insolvency? Law professor John C. Coffee Jr. examines the issue.
