However, the key to getting regulation right is not just understanding why and how markets fail, but also focusing on when they tend to fail.

FORBES: Magazine Article

In the small business discussion, Joe Stiglitz I think presented an economic case for how credit markets can fail and deny even good borrowers credit, and put forward some specific ideas about how we can get credit moving again.

WHITEHOUSE: President Obama Closes Forum on Jobs and Economic Growth

The markets panicked because they could not determine who was going to fail next, how the failure would be handled or whether anyone was in charge.

FORBES: The Inept Financial Reform Bill