Preface; Introduction; Chapter 1 The Risk of Freedom; Chapter 2 The Blessing of the Free Markets; Chapter 3 Too Big to Fail; Chapter 4 Hollowed Out; Chapter 5 A Risk-Free World; Chapter 6 The Last Mileposts; Chapter 7 Safe As Houses; Chapter 8 Credit Crunch, Economic Calamity; Chapter 9 Destroying the System In Order to Save It; Chapter 10 Free Markets: Our Choice; Bibliography; Acknowledgments; Notes.
Summary
Robust financial markets support capitalism, they don't imperil it. But in 2008, Washington policymakers were compelled to replace private risk-takers in the financial system with government capital so that money and credit flows wouldn't stop, precipitating a depression. Washington's actions weren't the start of government distortions in the financial industry, Nicole Gelinas writes, but the natural result of 25 years' worth of such distortions. In the early eighties, modern finance began to escape reasonable regulations, including the most important regulation of all, that of the marketplace.