Banks, Not Uncle Sam, Will Cause the Next Crisis

As we observe the fifth anniversary of the Dodd-Frank financial reform law, some of Wall Street’s most influential voices are warning of the possibility for another financial crisis, and they want you to know in advance that it isn’t going to be their fault. Rather, according to this new narrative, the problem is those pesky government regulators and their misguided efforts to de-lever and de-risk the financial system.