The 2007 Financial Crisis was one of the worst recessions that we have ever experienced. Regulations are a way for us to managing future risk to our economy and markets. Answer the following questions thinking of the regulatory changes in both the U.S. and in Europe. 1. What type of reforms have been put in place? 2. Did the reforms work? 3. Have the reforms been modified or are there plans to modify the reforms? 4. Will the reforms prevent future crises? 5. What would you suggest they do differently with the reforms?