Robert E. Litan

The financial crisis lay bare how the financial system failed the nation but left hidden the many ways in which that system still fails the most vulnerable Americans. In No Slack, Michael S. Barr explores how low- and moderate-income households cope with financial stress, use financial services to make ends meet, and often come up short. Many households were overleveraged or paid high costs for financial services, while others lacked access to useful financial products that can cushion against economic instability.