1/ When I was a senior @Penn in 2006 studying business and getting ready to go off to Wall Street, I never dreamed I’d someday get the honor to work on a project like this – a data-driven @WSJ look back on the lingering legacy of the 2008 financial crisis: graphics.dev.wsj.com/how-the-world-…
2/ This was an ambitious effort with my talented @WSJGraphics colleagues @tylerpaige @no_such_zone @jessiekuronen @gianordoli who helped me distill complex financial jargon into beautiful charts and illustrations anyone can understand – what financial journalism’s all about!
3/ Here are a few highlights from of my reporting which they helped bring to life in this first tap-through mobile story we've put together: graphics.dev.wsj.com/how-the-world-…
4/ Pay on Wall Street rebounded pretty quickly after the crisis - undoubtedly thanks in part to government support to help keep the financial sector afloat (remember the AIG bonus scandal?) 
5/ But the post-crisis recovery has been uneven: while we've all seen the unemployment rate tick down, real median income has largely been stagnant and many Americans work in low-wage jobs which barely keep them out of poverty (h/t @uscensusbureau @prosperitynow)
6/ The government's response to the crisis helped boost incomes for those at the top, exacerbating America's longer-term trend of growing income inequality.
7/ See this story @CMollenkamp and I did for @Reuters in 2013 for an example of how the Fed's post-crisis stimulus policies created some outsize winners: reuters.com/article/us-usa…
... and losers:
reuters.com/article/us-usa…
... and losers:
reuters.com/article/us-usa…
8/ So perhaps it's not surprising that our politics have become more divided; the government's response to the financial crisis was unpopular with voters of all political stripes for various reasons.
9/ The six largest banks have paid a lot of money for their misdeeds: Here is a tally from my colleagues @chris_rexrode @EmilyGlazerWSJ that put the tab at $110 billion for mortgage-related wrongdoing.
wsj.com/articles/big-b…
wsj.com/articles/big-b…
10/ But the government's zeal to fine banks was not accompanied by many criminal prosecutions; only one top banker went to jail for his role in the crisis.
11/ The banking sector overall is safer and better capitalized -- but the trend of big banks getting bigger has continued unabated (interesting aside: note the inflection point in this @ChristofferKoch chart -- right around the time of Glass-Steagall repeal in 1998)
12/ The financial sector is again growing as a share of the economy - which could help broaden access to capital but may also pose future risks for borrowers and consumers.
13/ The revolving door, a major source of conflicts of interest between regulators and entities they regulate, still spins and spins ... a limited sample:
14/ Credit rating agencies still have conflicts of interest because issuers still pay them to rate their debt. Here is a story I did for @ProPublica a few years ago that illustrates why this is a problem: propublica.org/article/banker…
15/ There are going to be other crises; it's too soon yet to tell how or when they may appear, but as Richard Bookstaber told me, people will inevitably find other ways to make foolish bets in the markets.
16/ One area to watch are student loans, which didn't so much as pause in the aftermath of the financial crisis -- simply kept growing and growing, outpacing auto loans and credit cards. See this excellent @gmorgenson column on why this may be a concern: nytimes.com/2015/10/11/bus…
17/ The rise of indexing may also bring unforeseen risks to investors who may not know the risks they're taking on.
18/ And complexity is creeping back into the markets; so far, not raising alarm bells among analysts. But maybe someday?
19/ No matter where the next crisis comes from, the government will have less leeway to act aggressively: the U.S. took on a lot of debt to put out the financial fires of 2007-2009 and the Fed cut interest rates to historic lows, leaving less room to cut rates in the future.
20/ If you have story ideas or suggestions on what you think the @WSJ should report on as we mark the 10 year anniversary of the financial crisis, email/Signal me or drop us a newstip securely here: wsj.com/tips
Sorry the earlier link I posted didn't work - here is the link to the story: graphics.wsj.com/how-the-world-…
