There is little evidence that deregulation or banks' compensation practices caused the financial crisis.

We have to face a key reality: Well-intentioned but disastrous mistakes are made by very intelligent, well-educated, highly informed people, backed by vast computing power and reams of data, but wrong nonetheless.

At this AEI book forum, Jeffrey Friedman will present his book’s arguments, followed by comments from AEI’s Peter Wallison and Alex Pollock and a general discussion.