Chuyên Đề Nhìn lại cuộc khủng hoảng toàn cầu 2008

The Financial Crisis: A Retrospective


"Government efforts to manage the fi nancial crisis and to promote economic recovery have been extensive over
the past three years. Hundreds of billions of dollars have been distributed—and much of it now repaid—
from the Troubled Asset Relief Program. The Federal Reserve holds more than $2 trillion in mortgage-backed
securities, collateralized loans to fi nancial institutions, and other assets and liabilities to maintain liquidity
in the fi nancial markets. The American Recovery and Reinvestment Act injected more than $600 billion into
the economy through tax breaks, loans, contracts, grants, and entitlements. Congress also passed the Dodd-Frank
Wall Street Reform and Consumer Protection Act in 2010. Yet economic recovery remains flat. The author
examines the reform eff ort to date, key points of its primary focus, and the politics of implementing the
reform as a factor in eventual economic recovery. One component of the reform, the creation of a Consumer
Financial Protection Bureau, holds the greatest potential for changing the way consumers participate in the
financial markets, but also has drawn the greatest debate and opposition. While regulatory reform alone will
not revive the economy, a newly conceived and broadly participatory Consumer Financial Protection Bureau
could simplify and streamline the complex linkages that contribute to the supply of credit ."