Book Review - The Crisis of Capitalist Democracy - By Richard A. Posner - NYTimes.com

Book Review - The Crisis of Capitalist Democracy - By Richard A. Posner - NYTimes.com: "In Posner’s eyes, we are living through a second depression. The root causes were a failure of monetary policy (the Fed kept its short-term interest rate too low between 2001 and 2004), a failure of regulatory oversight (the Federal Reserve and the S.E.C. were “asleep at the switch”) and a failure of intellectual rigor (economists claimed that the enlightened self-interest of bankers and shareholders would suffice to prevent such a crisis)."