Barr argues for regulation of systemically important firms
Professor Michael S. Barr makes an appearance in "Financial Crisis, Over and Already Forgotten," a May 22 New York Times article by Floyd Norris. Norris writes that Barr is "working on a book titled, "Five Ways the Financial System Will Fail Next Time." The first way, Norris says of Barr's list, "'Amnesia, willful and otherwise,' regarding the causes and consequences of the crisis."
The article describes the recent House Financial Services Committee hearing on regulation—a hearing at which, says Norris, "Mr. Barr, who helped write the Dodd-Frank financial overhaul law, was the sole witness who thought it made sense for regulators to study the asset management and insurance industries."
Michael S. Barr is professor of law at the University of Michigan Law School, professor of public policy at the Gerald R. Ford School of Public Policy, and a senior fellow at the Center for American Progress and at the Brookings Institution.