The financial crisis that erupted on Wall Street in 2008 quickly cascaded throughout much of the advanced industrial world. Facing the specter of another Great Depression, policymakers across the globe responded in sharply different ways to avert an economic collapse. Why did the response to the cri[...]

The hedge fund industry has grown dramatically over the last two decades, with more than eight thousand funds now controlling close to two trillion dollars. Originally intended for the wealthy, these private investments have now attracted a much broader following that includes pension funds and reta[...]