The Big Picture
Counterpoint: Summers Responds to Johnson and Soros on Post-Crisis US Policy
The tenth anniversary of the collapse of Lehman Brothers has occasioned a new round soul-searching about the 2008 financial crisis and its aftermath.
In this PS Counterpoint, Lawrence H. Summers rebuts the claims recently made by Rob Johnson and George Soros, who argued that the Obama administration should have gone further in pursuing mortgage-debt relief. Summers challenges Johnson and Soros's characterization of events, as well as the feasibility of their proposals.