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Howard Gold’s No-Nonsense Investing: Government dysfunction could doom us to a never-ending financial crisis when the next one hits

One day, whether it’s next year or in the next decade, there will be another financial crisis.

It probably won’t be as bad as the last one, which cost Americans trillions of dollars in wealth, caused nine million to lose their homes, and almost took all of Wall Street over the precipice.

But no matter where it begins, I think the next crisis will be defined by the inability of governments to act as decisively as they did after the fall of Lehman Brothers 10 years ago. Though regulation of mainstream financial institutions has greatly improved, budgetary and financial constraints as well as toxic politics may well tie the hands of regulators and central bankers in a way they didn’t the last time around.

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