Bloomberg commentator David Reilly quotes R&R's Ann Rutledge on the next target for regulators in mending the financial crisis: the "shadow banking system" of non-bank lending markets. Rutledge calls for "an exchange-like setting to provide the sort of standardization and rules that help trading of stocks...

R&R's Ann Rutledge discusses how flawed securitization set off the economic crisis in the cover story of the current issue of National Journal Magazine:"Until the early part of this decade, Rutledge says, most of the blueprints for building structured securities were imperfect but honest. Sometime...