Accounting standards, credit ratings, and credit-default swaps were created to help facilitate financial transactions by fostering trust. In the run-up to the credit-market freeze of 2008 those assurance mechanisms collapsed under the weight of political and regulatory pressures to aggressively expand homeownership and other policies.
|Other Independent Review articles by Bruce Yandle|
|Summer 2013||How Earth Day Triggered Environmental Rent Seeking|
|Spring 2012||Taxpayers and Tax Spenders: Does a Zero Tax Price Matter?|
|Fall 2004||Environmental Turning Points, Institutions, and the Race to the Top|
|[View All (8)]|