Inthis innovative and exhaustive study, Steven A. Ramirez posits that thesubprime mortgage crisis, as well as the global macroeconomic catastrophe itspawned, is traceable to a gross failure of law. Therule of law must appropriately channel and constrain the exercise of economicand political power. Used effectively, it ensures that economic opportunityisn’t limited to a small group of elites that enjoy growth at the expense ofmany, particularly those in vulnerable economic situations....
