Selling Hope, Selling Risk: Corporations, Wall Street, and the Dilemmas of Investor Protection

In the midst of globalization, technological change, and economic anxiety, we have deep doubts about how well the task of investor protection is being performed. In the U.S., the focus is on the Securities & Exchange Commission. Part of the explanation is economic and political: the failure to know the right balance between investor protection and capital formation, and the resulting battle among interest groups over their preferred solutions.

In Selling Hope, Selling Risk, author Donald C....