Book

In his book, Senseless Panic: How Washington Failed America, William M. Isaac argues that the more recent crisis could have been avoided if the nation’s political leaders hadn’t bungled their management of the mess.

Isaac proposes remedies for what continues to ail the country’s financial system. The key to effective change, he notes, is to learn from our mistakes. “I cannot emphasize how important it is that we understand the causes of the financial crisis in 2008 and that we enact the right reforms this time,” Isaac writes. “Those who do not remember and understand history will repeat it.”