In the aftermath of crisis, a common regulatory response has been to enhance the level of disclosure. This dates back to the argument made by Justice Louis Brandeis that "sunlight is the best disinfectant." Echoing this sentiment, President Obama argued on 28 January 2009 that the financial crisis derived from a dual failure: the 'irresponsbility that pervailed in Wall Street and Washington." He maintained that "restoring transparency is not only the surest way to achieve results, but also to earn back the trust in government without which we cannot deliver the changes the American people sent us here to make." The crisis also demonstrates, however, the limits of disclosure as a regulatory strategy. The series tests the limits of disclosure-based solutions for retail and wholesale investors across a range of product classes, from relatively simple to complex financial products.