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There is still no consensus on who or what caused the financial crisis which engulfed the world, beginning in the summer of 2007. In "The Financial Crisis" Howard Davies charts a course through the main arguments. The reader can thereby assess the weight to be attached to each, and the likely effectiveness of the remedies under development.
| ISBN | 0745651631 | | Pages | 240 | | ISBN13 | 9780745651637 (What's this?) | | Weight (grammes) | 496 | | Publisher | John Wiley and Sons Ltd | | Published in | Oxford | | Imprint | Polity Press | | Height (mm) | 243 | | Format | Hardback | | Width (mm) | 168 | | Publication date | 30 Jul 2010 | | Spine width (mm) | 19 | | DEWEY | 338.542 | | Academic level | Professional / Scholarly | | DEWEY edition | DC22 | |
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| | | Acknowledgments | | | | | | Introduction | | 1 | | A | | The Big Picture | | 7 | | 1 | | Frankenstein's Monster: The End of Laissez-Faire Capitalism | | 9 | | 2 | | The Rich get Richer - the Poor Borrow | | 13 | | 3 | | The Savings Glut: Global Imbalances | | 17 | | 4 | | Too Loose for Too Long - US Monetary Policy | | 21 | | B | | The Trigger | | 25 | | 5 | | Minsky's Moment | | 27 | | 6 | | The Subprime Collapse: A Failure of Government? | | 30 | | C | | The Failures of Regulation | | 35 | | 7 | | A Captial Shortage | | 37 | | 8 | | Procyclicatlity | | 42 | | 9 | | The Canary in the Coal Mine: Off-Balance Sheet Vehicles | | 46 | | 10 | | The Taxi at the Station - Liquidity | | 50 | | 11 | | The Blind Man and the Elephant: US Regulation | | 57 | | 12 | | SEC - RIP? | | 66 | | 13 | | Financial Weapons of Mass Destruction: Derivatives | | 71 | | 14 | | Federal Mortgage Regulation | | 76 | | 15 | | Casino Banking: The End of Glass-Steagall | | 79 | | 16 | | Too Big to Fail | | 84 | | 17 | | Lighting the Touchpaper: Light Touch Regulation | | 89 | | 18 | | There were Three People in the Marriage - UK Regulation | | 93 | | 19 | | A Failure of Coordination | | 100 | | 20 | | Paradise Lost: Offshore Centres | | 104 | | D | | Accountants, Auditors and Rating Agencies | | 109 | | | More... | | |
"It's hard to think of anyone better qualified than Howard Davies to evaluate the competing arguments about what caused the worst financial crisis and recession since the 1930s." Robert Peston, Business Editor for BBC News "Davies offers the most comprehensive post-mortem yet of the Great Crisis -- essential reading for those who are trying to fix a still precarious post-crisis world." Stephen S. Roach, Chairman of Morgan Stanley Asia "Howard Davies' lucid and panoramic account of the financial crisis and the reasons for it is crisply and entertainingly written. It is a great primer for anyone hoping to understand how a complex set of causes united to lead to the near-collapse of global finance in 2008." John Gapper, Associate Editor and Chief Business Commentator, Financial Times  Be the first to write a customer review
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