A New Light on Regulators in the Dark

In the five years that have elapsed since the direst days of the financial crisis, we’ve learned much about how the nation’s high-level banking regulators worked to keep the debacle from turning into a full-blown economic Depression. Tales of these herculean efforts have emerged in books by some of the major players, and in the exhaustive testimony they’ve presented before congressional inquisitors and others trying to determine what went wrong and why.

Still, there is more to learn.