the Financial Crisis

There is still no consensus on who or what caused the financial crisis which engulfed the world, beginning in the summer of 2007.

A huge number of suspects have been identified, from greedy investment bankers, through feckless borrowers, dilatory regulators and myopic central bankers to violent video games and high levels of testosterone among the denizens of trading floors. There is not even agreement on whether the crisis shows a need for more government intervention in markets, or less: some maintain that government encouragement of home ownership lay at the heart of the problem in the US, in particular.

In "The Financial Crisis "Howard Davies charts a course through these arguments, and the evidence advanced for each of them. The reader can thereby assess the weight to be attached to each, and the likely effectiveness of the remedies under development.

ISBN 074565164X   Pages 240 ISBN13 9780745651644 (What's this?)   Weight (grammes) 370 Publisher John Wiley and Sons Ltd   Published in Oxford Imprint Polity Press   Height (mm) 227 Format Paperback   Width (mm) 154 Publication date 30 Jul 2010   Spine width (mm) 18 DEWEY 338.542   Academic level Professional / Scholarly DEWEY edition DC22

		Acknowledgements
		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 Capital Shortage		37
8		Procyclicality		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