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Inflation and Deflation
The real reason for Washington's derivatives gift to banks
The real reason for Washington's derivatives gift to banks

As we embark on the seventh year since the historic collapse of the Lehman Bros. investment bank, it's clear we haven't fixed what broke the economy in 2008. Big banks still control Congress. Workers remain acutely vulnerable to another financial crisis. But we can't blame only Wall Street for gaming the system. Wall Street does what America wants it to — lend American families money they can't afford to pay back. Fixing Wall Street is easy. But then we would have to fix the problems that Wall Street's machinations mask. And that's hard. This month, the lame-duck Congress gave Big Finance an early holiday gift. For four years, large financial firms have...

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