Purpose – The purpose of this paper is to discuss the key regulatory, market, and political failures that led to the 2008‐2009 US financial crisis and to suggest appropriate recommendations for reform. Design/methodology/approach – The approach is to examine the underlying incentives that...

Purpose – The purpose of this paper is to discuss the key regulatory, market, and political failures that led to the 2008-2009 US financial crisis and to suggest appropriate recommendations for reform. Design/methodology/approach – The approach is to examine the underlying incentives that...