Book should be required reading for lawmakers

In their new book, “Seeds of Destruction: Why the Path to Economic Ruin Runs Through Washington and How to Reclaim American Prosperity,” Glenn Hubbard and Peter Navarro analyze financial reform in chapter 10. They explain just how the bursting of a housing bubble managed to trigger the worse recession since the Great Depression and bring the entire global financial system near collapse.

The authors then turn to a sobering critique of the sweeping “reforms” passed by Congress in response and explain why much of this massive piece of legislation misses the mark. They illustrate how a far simpler and far less intrusive set of reforms would do a far better job of preventing any future financial crises.

Chapter 11 concludes the book with a summary of, and final thoughts, about our Seeds of Prosperity policy blueprint.

This book should be required reading for every legislator and policymaker.

Roger Smith

Waterloo