Most people know virtually no financial history, so when we have a financial crisis, it seems like it has never happened before. But it has, again and again. As Paul Volcker, former chairman of the Federal Reserve, remarked: "About every ten years, we have the biggest crisis in 50 years." 

National Mortgage News (December 19) asks, "Can Regulators Prevent the Next Systemic Risk Crisis?" Probably not.  Certainly not, if they can't even define the central term, "systemic risk."  As Donna Borak writes, "The chief obstacle to heading off systemic risk turns out to be agreeing on a definition for...

In the latest Financial Services Outlook, American Enterprise Institute (AEI) housing experts Peter Wallison and Edward Pinto explain how decades of government intervention have gravely harmed America's housing market.

As the housing market struggles to keep pace with economic recovery elsewhere, homeowners would love to have a crystal ball.  Absent that, however, they have AEI resident fellow Edward Pinto, one of seven panelists to be awarded with Zillow and Pulsenomics' Crystal Ball Award.

Secretary Geithner argued that we have forgotten the reasons that the Dodd-Frank Act was necessary, and that's why the act has become so controversial. What the secretary seems to have missed is that we have learned a lot in the intervening years. The administration's rush to judgment on the financial crisis is a case study in why it would have been worthwhile to wait for the facts.

A loan substitution program may be the best way to quickly reduce the potential number of mortgage defaults.

A few thoughts on recent research about the resilience of the economy and the need for financial regulation.

What the deflating housing bubble means for the economy.