It often takes years after a geopolitical or economic crisis to come up with the proper narrative for what happened. So it’s no surprised that six years on from the financial crisis of 2008, you are seeing a spate of new battles over what exactly happened. From the new information about whether the government could have, in fact, saved Lehman Brothers from collapse, to the lawsuit over whether AIG should have to pay hefty fees for its bailout (and whether the government should have penalized a wider range of firms), to the secret Fed tapes that show just how in bed with Wall Street regulators still are (the topic of my column this week), it seems every day brings a debate over what happened in 2008 and whether we’ve fix it.
My answer, of course, is that we haven’t. To hear more on that, check out my debate on the topic with New York Times’ columnist Joe Nocera, on this week’s episode of WNYC’s Money Talking:
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