It’s depressing to watch, but it is missing the point that the Volcker rule would not have prevented the loss and is probably unworkable.

Sir, Edward Luce's description of the competing views in the US about both the financial crisis and a supposed "crisis of capitalism" was a caricature, particularly his discussion of the view he ascribed to the Republicans ("America's three views on the crisis", March 19).

In order to overcome the subprime mortgage bust, we must help borrowers to become more competent and informed.

The Occupy Wall Street phenomenon is perfectly understandable if we recognize it as an artifact of the conventional narrative about the financial crisis—that it was caused by Wall Street greed and insufficient regulation. If the demonstrators new the truth—that the government's housing policy caused the financial crisis and the subsequent recession—they would be on the Capitol steps.

How and why did the Canadian and U.S. housing finance markets react differently to the international financial crises of 2007-2009?

The Financial Crisis Inquiry Commission issued its majority report in January 2011, stating that the 2007-2010 crisis was "avoidable" and caused by widespread failures in financial regulation. Commission member Peter Wallison disagreed.

Longstanding policies that were intended to promote confidence in the independence of regulatory decision-making have now been wiped away by the Dodd-Frank act, which has in effect placed all the financial regulators under the direction of the Treasury secretary.

What are the specific problems and issues with the mortgage regulations resulting from the Dodd-Frank Act? How can we strike the right balance between risk and recovery?