The magazine of international economic policy.

From the Fall 2008 issue

Do the Credit Rating Agencies Deserve to Exist?

Should these institutions be disenfranchised? Or are effective reforms possible? Fourteen distinguished experts rate the raters.

A symposium of views

Disenfranchise the Ratings Agencies

From the editors.

By Adam S. Posen and David M. Smick

Barely Contained Outrage

What the Europeans really think about America’s regulatory blunders.

By Klaus C. Engelen

Swallowing the National Toad

Germany’s top regulator says it’s time the industrialized world swallow its pride and implement some aggressive regulatory reforms.

By Jochen Sanio

Europe’s Second Pillar

A European deposit insurance system, complementing monetary union, can help to contain the European race to the bottom in financial sector subsidies and regulatory arbitrage.

By Hans-Joachim Dübel

The Firefighters of the IMF

Sitting idle while the neighborhood burns.

By Hector R. Torres

Our Moment in History

Obama’s victory is a huge step forward. Now to action.

By Jeffrey D. Sachs

The Future of America’s Financial Dominance

Consider four factors.

By Robert D. Hormats

Origins of the Credit Crisis

Two overlooked structural mismatches.

By Bernard Connolly

Dollars and Diplomacy

When U.S. foreign policy bumps up against banking and finance.

By Gary N. Kleiman

Subprime Suits

The slow pace of litigation.

By Frederick W. Chockley III and Rebecca Barnes

Trade Protection Faceoff

Two distinguished authorities on world trade sound off on protectionism, foreign investment, and national security.

By Alan Beattie and Nicolas Véron

The Rubin-Greenspan Legacy

Now Paulson’s ongoing nightmare.

By Christopher Whalen

Too Much the Investment Banker

Why U.S. Treasury Secretary Hank Paulson should approach the banking crisis more like a regulator.

By Abe De Ramos

Wall Street’s Death

Suicide? Murder? Accidental death? Or a case of organ failure?

By Dani Rodrik

The Radical Approach

Why we’re not yet out of the woods.

By Nouriel Roubini

Regulate Hedge Funds

It’s impossible to separate charlatans from talented wizards.

By Dean P. Foster and H. Peyton Young

Japan’s Mistaken Solutions

Lessons on how not to respond to a financial crisis.

By Tadashi Nakamae

Lessons from Japan’s Lost Decade

Why America’s experience may be worse.

By Richard C. Koo

Credit Crisis, Asian Style

A top Hong Kong analyst sets the stage.

By Chi Lo