http://economicpolicyinfo.com/topic/proquest-llc2010-04-16T14:30:42Z2010-04-16T14:30:42ZGlobal Financetag:economicpolicyinfo.com,2010-04-16:/financial-regulatory-policy/opportunity-knocks-367038a/

<div><p>If this year's crisis has shown us anything, it is that the current model of the global financial system is broken. There are so many aspects of it that don't work that it's hard to know where to begin fixing it, but one of the most important-perhaps the core of the problem-is the fallacy of self-regulation. In decades to come, when historians are chronicling the great financial upheaval of 2008, readers will gasp and wonder, "What were they thinking?" Time and time again, traders, banke...