The global financial crisis was much more than a disaster for banks.
September
2023
Portions of this Article draw on the authors’ testimony to Congress and amicus briefs in MetLife, Inc v FSOC. For helpful comments and suggestions, we thank Hilary Allen, Chris Brummer, Peter Conti-Brown, Jeff Gordon, Claire Hill, Bob Hockett, Brett McDonald, Saule Omarova, Richard Painter, Christina Skinner, and Margaret Tahyar, and the audiences at presentations at Cambridge, Oxford, Columbia Business School, the University of Connecticut, the University of Minnesota, Georgetown Law Center, Wharton, and the Indira Gandhi Institute for Development Research. Thanks to Jayme Wiebold for research assistance.
The global financial crisis was much more than a disaster for banks.