Legal Commentary

NYT Room for Debate Blog on Whether the Financial Crisis Was Avoidable

By Kenneth Anderson

The New York Times Room for Debate Blog, where various Conspirators have served as discussants one time or another, has a very interesting discussion on whether and in what respects the financial crisis might have been avoided.  It?s a good short read. From the introduction:

Last week, the Financial Crisis Inquiry Commission, after reviewing thousands of documents, issued a report, which explained the causes of the financial unraveling, the role of government and the banks, and the aftershocks of the crisis. The 10-member commission, however, split along party lines, with the six Democrats voting to adopt the report and its findings, and the four Republican members issuing two dissenting reports.  On NPR, Keith Hennessey, one of the Republican commissioners, said that the disagreement could perhaps be boiled down to one statement in the majority report: ?We conclude this financial crisis was avoidable.?

The report, majority and dissents, is well worth reading as well.  I agree with some of the criticisms that it is too much narrative history and too little analysis, but there?s still value in creating a record of what happened for its own sake.

What are the books specifically about the financial crisis 2007?2009 that that you would put on the genuinely short list for reading?

Full post as published by The Volokh Conspiracy on January 31, 2011 (boomark / email).