May 8, 2012
It has been four years since the global financial crisis first struck, and the system that helped cause the deepest economic slump since the 1930s is still broken.
Sure, laws have been passed and financial rules tweaked; the U.S., for instance, in 2010 approved the wide-ranging Dodd- Frank law. But a critical component of a stronger financial system — an internationally coordinated increase in bank capital — is missing.
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