Suchergebnisse

Examines an important historic event -- the modern global financial crisis. Easy-to-read, compelling text explores the impact of the failing housing market and the credit crisis in the United States, the US government bailouts of banks, automakers, and other businesses, issues around financial regulation and the US Federal Reserve, the spread of financial problems to Europe, Japan, and China, and the effects of this event on society

"The collapse of Lehman Brothers, the oldest and fourth-largest US investment bank, in September 2008 precipitated the global financial crisis. This deepened the contraction in economic activity that had already started in December 2007 and has become known as the Great Recession. Following a sluggish and uneven period of recovery, levels of private debt have recently been on the rise again making another financial crisis almost inevitable. This book answers the key question: can anything be done to prevent a new financial crisis or minimize its impact? The book opens with an analysis of the main elements responsible for the 2007/2009 financial crisis and assesses the extent to which they are still present in todays financial system. The responses to the financial crises - particularly the Dodd-Frank Act, the establishment of the Financial Stability Board, and attempts to regulate shadow banking - are evaluated for their effectiveness. It is found that there is a high risk of a new bubble developing, there remains a lack of transparency in the financial industry, and risk-taking continues to be incentivised among bankers and investors. Proposals are put forward to ameliorate the risks, arguing for the need for an international lender of last resort, recalling Keynes' idea for an International Clearing Union."

"A complete and accessible explanation of the factors contributing to the onset of the 2007 financial and economic crisis. The myriad factors are explained in an orderly way with simple terms. The anticipation (or not) and reception of the crisis by mainstream economists and by Austrian economics leads to reflection on the state of economic theory"--

Capitalism and the crisis : bankers, bonuses, ideology, and ignorance / Jeffrey Friedman -- An accident waiting to happen : securities regulation and financial deregulation / Amar Bhid -- Monetary policy, credit extension, and housing bubbles : 2008 and 1929 / Steven Gjerstad and Vernon L. Smith -- The anatomy of a murder : who killed the American economy? / Joseph E. Stiglitz -- Monetary policy, economic policy, and the financial crisis : an empirical analysis of what went wrong / John B. Taylor -- Housing initiatives and other policy factors / Peter J. Wallison -- How securitization concentrated risk in the financial sector / Viral V. Acharya and Matthew Richardson -- A regulated meltdown : the Basel rules and banks' leverage / Juliusz Jablecki and Mateusz Machaj -- The credit-rating agencies and the subprime debacle / Lawrence J. White -- Credit-default swaps and the crisis / Peter J. Wallison -- The crisis of 2008 : lessons for and from economics / Daron Acemoglu -- The financial crisis and the systemic failure of the economics profession / David Colander ... [et al.] -- Afterword : the causes of the financial crisis / Richard A. Posner