Financial Crisis History

The bailouts during the recent financial crisis enraged the public. They felt unfair - and counterproductive: people who take risks must be allowed to fail. If we reward firms that make irresponsible investments, aren't we encouraging them to continue to act irresponsibly? Bailouts have happened throughout economic history and are unavoidable in any modern, market-based economy. And they're actually good. Contrary to popular belief, the financial system cannot operate properly unless the government stands ready to bail out banks and other firms.

Generation Y faces the bleakest economic landscape in modern history. The recent spikes in unemployment and debt, alongside a drop in marriage, home-buying, and childbearing rates, will have long-term consequences for a group that had no hand in creating the financial crisis. For these young adults, the American Dream is moving farther out of reach. Worse still, leaders aren't doing anything about it.