Room for Debate: Did the Bank Bailout Do Enough for the Country?

Housing Crisis Was Overlooked

Amir Sufi, Univesity of Chicago

Letting bankruptcy judges write down mortgages and providing an ambitious mortgage refinancing plan would have reduced foreclosures.

Our System Is Safer and More Stable

Lee Sachs, Former counselor to the treasury secretary

Radical reshaping should not be an objective for its own sake. Rescue efforts and reforms protected consumers, taxpayers and the flow of credit.

Better No Bailout, Than the One We Got

Dean Baker, Center for Economic and Policy Research

Banks weren't forced to shrink and get boring. If they were allowed to fail, federal spending could have kept the economy afloat and led to recovery.

Too Much Debt and Not Enough Equity

Anat R. Admati, Stanford University

Tougher requirements would have prevented banks from hiding their true losses, and loosened credit for businesses and individuals.

More Focus Is Needed on Deep Economic Flaws

Edward Harrison, Credit Writedowns

Until we address stagnant income, high household debt, insufficient bank capital and excessive risk, another crisis may be inevitable.

Too Narrow a Focus on Banks

Glenn Hubbard, Columbia University

There was little discussion of financial institutions other than banks and government institutions, which helped spread contagion.