Will Financial Reform Work? That Depends

(July 16) -- In speaking about the financial regulation bill he will soon sign, President Barack Obama said that the bill "will prevent a financial crisis like this from happening again." This is oversimplified -- there is no way to prevent every crisis and this bill doesn't come close. In leaving Fannie Mae and Freddie Mac untouched, for example, the legislation doesn't even address a key factor behind the recent crisis.

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