After an introduction by Visiting Fellow Justin O’Brien on the limitations of current financial regulations both globally and domestically, journalist Gregg Fields interviews former Lab Fellow Kim Pernell-Gallagher on how divergent banking regulations in the years leading up to the recent financial crisis led to different economic outcomes in the US, Spain, and Canada. Gallagher poses this thought-provoking question: “Problems in the shadow banking industry can carry over into the real economy just the way that problems in the regulated banking industry can, which makes us think: is transferring risk to unregulated entities really the smartest call?"