The Great Crisis had three many causes: global imbalances, Fed monetary policy, excessive deregulation of finance. The debt overhang generated in this way in the Us has been compounded by the lack of an effective and rapid reregulation of finance in order to correct the profound errors introduced by the «light touch» that submitted commercial banks to rules based on the financial market. A serious new regulation, under the supervision of adequate leadership, remains the way to go for financial sustainability and global stability
