Richard Pildes is the Sudler Family Professor of Constitutional Law at New York University, and the co-author of The Law of Democracy: Legal Structure of the Political Process.
Fifteen years after the collapse of the US investment bank Lehman Brothers triggered a devastating global financial crisis, the banking system is in trouble again. Central bankers and financial regulators each seem to bear some of the blame for the recent tumult, but there is significant disagreement over how much – and what, if anything, can be done to avoid a deeper crisis.
