By Simon Johnson

In 2006 Robert Rubin and his allies created the Hamilton Project, housed at the Brookings Institution, to think about what a future Democratic administration would do.  (Senator Obama attended the opening.)

From a tactical standpoint, this was a brilliant move.  It developed people, including Peter Orszag and Jason Furman (directors of the project),  trained a team, and created an agenda.

Unfortunately, financial reform was not – and perhaps still is not – on this agenda.  The financial crisis more than blindsided them; it overturned their entire way of thinking about the world.  At least in part, this explains their slow, partial, and unsatisfactory response.  In any case, it hasn’t worked out for them – or for us.

Wednesday morning there is a potential step in another direction.  (Alternative link.)  There are many questions. Continue reading “After The Hamilton Project” →