This paper assesses the regulatory response to the savings and loans crisis of the 1980s to highlight the responsibility of various agents - goverment, regulators, financial institutions, lawyers, and the general public. Lance Cassak shows the difficulty of implementing strong regulatory measures in boom times and the inherently cyclical nature of such crises, but also identifies lessons for the future that need to be put in place to avert future such crises.
The fourth and final policy brief from our series assessing the progress of the Leveson Inquiry and the future of media regulation sees the Director of the Media Policy Project at the London School of Economics Damian Tambini provocatively argue that we should abandon the concept of press freedom altogether.
In this policy brief, published in conjunction with the Reuters Institute for the Study of Journalism, Lara Fielden examines the three key qualities Lord Justice Leveson recommended for future press regulation – that it is ‘voluntary’, ‘independent’, and ‘self-regulatory’. These characteristics, which form the basis of the government’s draft Royal Charter, are explored within the instructive context of differing approaches to press regulation in a range of democracies overseas.
