The Financial Crisis and Reform: Causes and Consequences


The ongoing financial crisis has led to unending articles, books, and commentary on who and what was responsible for the global financial meltdown and how to minimize the risk of another similar scenario.  Friday it was announced that a compromise bill, the Dodd-Frank Wall Street Reform and Consumer Protection Act, was passed through the House Committee on Financial Services, moving toward Congressional passage of a bill that many have called the most massive financial regulatory reform since the Great Depression.  As the White House posts praises on the bill’s merits, conservative columnists pen articles such as the recent opinion piece in the Wall Street Journal–Triumph of the Regulators: the Dodd-Frank Financial Reform Bill Doubles Down on the Same System that Failed–that alert readers to the bill’s downside.  Where does a student go to get the facts? Try these sources…

CQ Researcher is a database offering background and facts surrounding contemporary issues.  The recent CQ Researcher report, Financial Crisis: Did Lax Regulation Cause a Credit Meltdown?, provides information on the lead up to the crisis and a listing of government and trade association contacts with more information on the topic.  See also, a complimentary piece, Regulating Credit Cards: Are Tougher Regulations Needed to Protect Consumers?

Opposing Viewpoints Resource Center database provides opposing opinion pieces on contemporary topics and supporting evidence through links to relevant websites, statistical sources, and academic articles.  Type in financial crises at the search box to retrieve articles on both the causes of the crisis and the role of financial regulation as both cause and solution to it.

The library catalog will direct you to relevant books on the financial crisis and reform.  To obtain books held at other HELIN libraries, select the Request icon, type in your name and 14-digit barcode #, and select Bryant University as your pickup location.  Try these reads: The Big Short: Inside the Doomsday Machine by Michael Lewis, The Greatest Trade Ever Made by Gregory Zuckerman, The Housing Boom and Bust by Thomas Sowell, Lessons from the Financial Crisis: Causes, Consequences, and Our Economic Future edited by Robert W. Kolb, and On the Brink: Inside the Race to Stop the Collapse of the Global Financial System by Henry Paulson.

Government documents generated by various Congressional hearings also contain detailed facts and first person observations on the cause of the financial crisis and the pros and cons of regulatory reform.  Search the library catalog using the keyword phrase financial regulatory reform to retrieve a listing of documents. Many of these government documents are available through a permanent link into the report (click on the provided link to access the report), though some are available in print only and can be requested via the HELIN request icon.  Examples of government reports include Banking industry perspectives on the Obama administration’s financial regulatory reform proposals and Regulatory perspectives on the Obama administration’s financial regulatory reform proposals (see the catalog for part 2 of this report).

Ask a reference librarian for help on locating more sources of information on the development of financial regulatory reform legislation.