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After The Fall: Saving Capitalism from Wall Street—and Washington

Wednesday December 2009


Nicole Gelinas Senior Fellow, Manhattan Institute, Contributing Editor, City Journal

Introduction: Amity Shlaes, Senior Fellow, Council on Foreign Relations, Author of The Forgotten Man: A New History of the Great Depression

The financial crisis that began in 2008 was not a failure of markets, but a failure of government to understand its proper role in markets.

In her new book, After the Fall: Saving Capitalism from Wall Street—and Washington, Nicole Gelinas shows how Washington helped bring on the economic crisis in two ways: through its “too big to fail” policy, which distorted market signals for a quarter-century, and through its related failure to apply proven, prudent regulatory principles to modern financial markets and firms. Gelinas reveals that the problems were predictable and offers straight forward solutions to prevent a severe financial crisis from threatening the economy again.