...This chapter examines how the deregulation of financial markets allowed the dramatic growth of a shadow financial system of special investment vehicles, highly leveraged hedge funds, and private equity. The nonbank financial firms and the products they buy and sell are widely seen as a second...

... prediction about future crises and the structural factors inhibiting true reform. The book follows the rise of banking practices and financial motives in America over the past thirty years and the simultaneous growth of a shadow industry of hedge funds, private equity firms, and financial innovations...