By Ross Kerber. University economists are already teaching courses on the history of the financial crisis of 2008 and the policy responses that followed. Robert Pozen’s new book could become required reading.

“Too Big to Save? How to Fix the U.S. Financial System” (Wiley, $29.95), provides both a detailed look at the run-up to the financial system’s brush with disaster and many prescriptions in response.

Government action to stem collapse of the U.S. financial system was certainly warranted, agrees professor Robert Pozen. But results include less competition and increased risk to taxpayers. A Q&A from the HBS Alumni Bulletin and book excerpt from Too Big to Save?

By Robert Pozen. On Monday, President Barack Obama pressed 12 large US banks – all recipients of federal assistance – to increase their lending to businesses and consumers. In fact, during the third quarter of 2009, total loans at US banks fell by $210bn (€144bn, £129bn), or 3 per cent, the biggest quarterly decline since 1984.

In the latest crackdown, Kenneth Feinberg announced a $500K salary cap on executives at bailed-out firms. Robert Pozen on how the banks can clean house—and get the feds off their backs.

By Robert Gavin. Robert Pozen, chairman of Boston mutual fund firm MFS Investment Management, recently published a new book, “Too Big to Save?,’’ which explores the global financial crisis and the steps needed to reform the US financial system.