Asking a Better Question About Who to Blame for the Financial Crisis

"While one could argue that these two are the same question – who caused it versus who could have stopped it – for all practical purposes, the list of candidates for the former is far bigger than the latter and, without doubt, the answer to second question is far more important for the future, that is, if anyone in government or industry is seriously interested in preventing this sort of thing from happening again, something that appears to be in question given the progress on financial market reform so far"