The Dismantling of the US Economy’s Legal Infrastructure

1. The Background
2. Hedge funds and private equity funds: How vast pools of money escaped regulation
3. Derivatives and the enforceability of margin
4. Mortgage lending and investment banking: 1930s reform and the post-war years
5. Mortgage lending and investment banking: The evolution of bank balance sheets
6. Mortgage lending and investment banking: An aside on the financial economics of 30 year mortgages
7. Mortgage lending and investment banking: The era of “pro-competitive” reform
   1. The transformation of mortgage finance in the 1980s
   2. The collapse of Bretton Woods and the entrenchment of Too-Big-to-Fail
      1. The development of the Eurodollar market in the early 1970s
      2. The Growth of LDC Loans
      3. The Bailout of First Pennsylvania Bank
      4. The LDC Debt Crisis
      5. The Growth of Leveraged Buyout Loans
      6. Continental Illinois
      7. Proposed solutions
   3. The era of regulatory reform: The Greenspan years
   4. The era of regulatory reform: Leading up to the crisis
8. The Crisis
9. Policy implications

References

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