Financial crises are inevitably followed by legislation to restructure the banking system, and the ongoing problems with bank stability are likely to be no exception.
Thousands of banks failed in the Great Depression.
Bettmann via Getty Images
Crises fueled by bank runs, starting with the Great Depression, have had something in common: Unexpected changes spur bank failures, followed by general panic and then large-scale economic distress.
CFPB interim director Mick Mulvaney has brought the bureau to a near-standstill.
Reuters/Jonathan Ernst
The president recently nominated a new permanent director to take over the Consumer Financial Protection Bureau. With the CFPB doing a fraction of the work it did under Obama, what kind of agency will she lead?
Wall Street needs a new face.
AP Photo/Frank Franklin II
Mick Mulvaney has only been in charge of the Consumer Financial Protection Bureau for two months, but he’s already made many decisions that will leave consumers worse off.
Republicans have been opposed to the CFPB since it was created.
Reuters/Joshua Roberts
Republicans are hoping to eliminate or at least defang the only federal agency tasked solely with protecting consumers from financial abuses. What would we miss if they succeed?
Traders react with dismay after stocks plunged in September 2008 following the collapse of Lehman Brothers.
John Gress/Reuters
Instead, we need to burn the entire system of financial regulation to the ground and replace it with something that supports investing the way it’s done today.
A prospector prepares to pan for gold in South Kivu in 2014. Many informal miners faced tough choices as US regulations turned life upside down.
Reuters/Kenny Katombe
The US wants to repeal controls imposed seven years ago on the trade of some Congolese minerals. The president’s reasons might be all wrong. But the law was badly put together in the first place.