The concept of regulatory systemic risk – a long-term imbalance, resulting from the misalignment between regulatory initiatives and market realities, that impacts multiple areas of the regulatory framework – is developed in the context of US securities regulation. The discussion offers two...

The world's best financial minds help us understand today's financial crisis With so much information saturating the market for the everyday investor, trying to understand why the economic crisis happened and what needs to be done to fix it can be daunting. There is a real need, and demand, from...

art I: The benefits of free financial markets -- Does finance benefit only the rich? -- Shylock transformed -- The financial revolution and individual economic freedom -- The dark side of finance -- The bottom line on financial development -- Part II: When do financial markets emerge? -- The...