Introduction

The stock market has changed radically since 2005, yet few persons realized the greatness of the seismic shift until May 6, 2010, when the major averages collapsed over the course of 10 minutes. The public suddenly realized that a venue designed to efficiently move capital from investors to the most promising enterprises had become as risky as a Las Vegas casino. This book is the story of well-intentioned but disastrously wrong-headed decisions by Congress and securities regulators that resulted in the destruction of a great American institution and possible long-lasting damage to the entire U.S. economy. Fixing this mess is without a doubt the most important challenge for U.S. policy makers in the years ahead, yet few of them understand ...

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