hidden in plain sight what really caused the world s worst financial crisis and why it could happen again

Download Book Hidden In Plain Sight What Really Caused The World S Worst Financial Crisis And Why It Could Happen Again in PDF format. You can Read Online Hidden In Plain Sight What Really Caused The World S Worst Financial Crisis And Why It Could Happen Again here in PDF, EPUB, Mobi or Docx formats.

Hidden In Plain Sight

Author : Peter Wallison
ISBN : 9781594037719
Genre : Business & Economics
File Size : 46. 93 MB
Format : PDF, Mobi
Download : 654
Read : 772

Download Now


The 2008 financial crisis—like the Great Depression—was a world-historical event. What caused it will be debated for years, if not generations. The conventional narrative is that the financial crisis was caused by Wall Street greed and insufficient regulation of the financial system. That narrative produced the Dodd-Frank Act, the most comprehensive financial-system regulation since the New Deal. There is evidence, however, that the Dodd-Frank Act has slowed the recovery from the recession. If insufficient regulation caused the financial crisis, then the Dodd-Frank Act will never be modified or repealed; proponents will argue that doing so will cause another crisis. A competing narrative about what caused the financial crisis has received little attention. This view, which is accepted by almost all Republicans in Congress and most conservatives, contends that the crisis was caused by government housing policies. This book extensively documents this view. For example, it shows that in June 2008, before the crisis, 56 percent of all US mortgages were subprime or otherwise low-quality. Of these, 76 percent were on the books of government agencies such as Fannie Mae and Freddie Mac. When these mortgages defaulted in 2007 and 2008, they drove down housing prices and weakened banks and other mortgage holders, causing the crisis. After this book is published, no one will be able to claim that the financial crisis was caused by insufficient regulation, or defend Dodd-Frank, without coming to terms with the data this book contains.

Hidden In Plain Sight

Author : Peter J. Wallison
ISBN : 9781594038662
Genre : Business & Economics
File Size : 36. 59 MB
Format : PDF, ePub
Download : 557
Read : 1117

Download Now


The 2008 financial crisis—like the Great Depression—was a world-historical event. What caused it will be debated for years, if not generations. The conventional narrative is that the financial crisis was caused by Wall Street greed and insufficient regulation of the financial system. That narrative produced the Dodd-Frank Act, the most comprehensive financial-system regulation since the New Deal. There is evidence, however, that the Dodd-Frank Act has slowed the recovery from the recession. If insufficient regulation caused the financial crisis, then the Dodd-Frank Act will never be modified or repealed; proponents will argue that doing so will cause another crisis. A competing narrative about what caused the financial crisis has received little attention. This view, which is accepted by almost all Republicans in Congress and most conservatives, contends that the crisis was caused by government housing policies. This book extensively documents this view. For example, it shows that in June 2008, before the crisis, 58 percent of all US mortgages were subprime or other low-quality mortgages. Of these, 76 percent were on the books of government agencies such as Fannie Mae and Freddie Mac. When these mortgages defaulted in 2007 and 2008, they drove down housing prices and weakened banks and other mortgage holders, causing the crisis. After this book is published, no one will be able to claim that the financial crisis was caused by insufficient regulation, or defend Dodd-Frank, without coming to terms with the data this book contains.

The First Great Financial Crisis Of The 21st Century

Author : James R Barth
ISBN : 9789814651264
Genre : Business & Economics
File Size : 60. 61 MB
Format : PDF, Mobi
Download : 676
Read : 397

Download Now


Although there have been numerous studies of the causes and consequences of the Great Financial Crisis of 2007–2010 in the US and abroad, many of these were undertaken only for a small number of countries and before the financial and economic effects were fully realized and before various governmental policy responses were decided upon and actually implemented. This book aims to fill these voids by providing a more thorough assessment now that the worst events and the regulatory reforms are sufficiently behind us and much more information about these developments is available. It reviews and analyzes the causes and consequences of and the regulatory responses to the Great Financial Crisis, particularly from a public policy viewpoint. In the process, it explores such intriguing questions as: What caused the crisis? How did the crisis differ across countries? What is the outlook for another crisis, and when? This is a must read for those who are trying to find answers to these questions. Contents:The Great Financial Crisis of 2007–2010: The Sinners and Their Sins (G G Kaufman)The Costs of the 2007–2009 Financial Crisis (H Rosenblum)The US Financial Crisis and the Great Recession: Counting the Costs (Gillian G H Garcia)US Housing Policy and the Financial Crisis (Peter J Wallison)Playing for Time: The Fed's Attempt to Manage the Crisis as a Liquidity Problem (R A Eisenbeis and R J Herring)Japan's Financial Regulatory Responses to the Global Financial Crisis (K Harada, T Hoshi, M Imai, S Koibuchi and A Yasuda)Regulatory Response to the Financial Crisis in Europe: Recent Developments (2010–2013) (S Carbó-Valverde, H A Benink, T Berglund and C Wihlborg)Regulatory Change in Australia and New Zealand Following the Global Financial Crisis (C A Brown, K T Davis and D G Mayes)The Dodd-Frank Act: Systemic Risk, Enhanced Prudential Regulation, and Orderly Liquidation (G G Kaufman and R W Nelson)The Trade Execution and Central Clearing Requirements of Dodd-Frank Title VII — Transparency, Risk Management, and Financial Stability (R S Steigerwald)A Primer on Dodd-Frank's Title VIII (C Baker)Macroliquidity: Selected Topics Related to Title XI of the Dodd-Frank Act of 2010 (W F Todd)The Dodd-Frank Act: Key Features, Implementation Progress, and, Financial System Impact (J R Barth, A (Penny) Prabha and C Wihlborg)Hair of the Dog That Bit Us: The Insufficiency of New and Improved Capital Requirements (E J Kane)Misdiagnosis: Incomplete Cures of Financial Regulatory Failures (J R Barth, G Caprio Jr and R Levine)Path-Dependent Monetary Policy in the Post-Financial Crisis Era of Dodd-Frank (H Rosenblum)Bank Crisis Resolution and the Insufficiency of Fiscal Backstops: The Case of Spain (S Carbó-Valverde and M J Nieto) Readership: Graduate students, academics, economists, finance professionals, monetary, banking authorities and financial regulatory bodies, and those who are interested to find out the impacts of the Great Financial Crisis and the adequecy of the reforms and policy responses in its aftermath. Key Features:Analyzes theoretically and empirically the Great Financial Crisis of 2007–2010 not only in the micro- and macro-perspectives, but also with case studies on different countriesPresents a much more thorough assessment on the causes and consequences of and the regulatory responses to the Great Financial Crisis with the most up-to-date informationEmphasizes in particular the Dodd–Frank Act: its implementation and its impacts on financial regulation, monetary policy and the future of global financeKeywords:Financial Economics;Banks;Depository Institutions;Micro Finance Institutions;Mortgages;Macroeconomics;Monetary Economics;Dodd-Frank;Financial Crisis;Financial Regulations;Regulatory Framework;Bankers;Systemic Risk;Recession

The Global Financial Crisis And Its Aftermath

Author : Hersh Shefrin
ISBN : 9780199386222
Genre : Economic policy
File Size : 48. 18 MB
Format : PDF, ePub
Download : 613
Read : 913

Download Now


Introduction -- The global financial crisis of 2007-09 : an overview of neglected ideas from economics, psychology, and values / A.G. Malliaris, Leslie Shaw, and Hersh Shefrin -- The global financial crisis of 2007-09 and economics -- From asset price bubbles to liquidity traps / A.G. Malliaris -- A minsky meltdown: lessons for central bankers / Janet Yellen -- Modeling financial instability / Steve Keen -- Assessing the contribution of hyman minsky's perspective to our understanding of economic instability / Hersh Shefrin -- The Great Recession of 2008-09 and its impact on unemployment / John Silvia -- Mathematical definition, mapping, and detection of (anti)fragility / Nassim Taleb and Rafael Douady -- The global financial crisis of 2007-09 and psychology -- The varieties of incentive experience / Robert Kolb -- Goals and the organization of choice under risk in both the long run and the short run / Lola Lopes -- Topology of greed and fear / Graciela Chichilnisky -- A sustainable understanding of instability in minds and in markets / Leslie Shaw -- Existence of monopoly in the stock market : a model of information-based manipulation / Viktoria Dalko, Lawrence R. Klein, S. Prakash Sethi, and Michael Wang -- Crisis of authority / Werner DeBondt -- Social structure, power, and financial fraud / Brooke Harrington -- The global financial crisis of 2007-09 and values -- Economics, self psychology, and ethics : why modern economic persons cheat and how self psychology can provide the basis for a trustworthy economic world / John Riker -- Finance professionals in the market for status / Meir Statman -- Why risk management failed: ethical and behavioral explanations / John Boatright -- The global financial crisis and social justice : the crisis seen through the lens of Catholic social doctrine / Paul Fitzgerald, S.J -- The moral benefits of financial crises: a virtue ethics perspective / John Dobson -- Three ethical dimensions of the financial crisis / Antonio Argandonan -- Epilogue -- Lessons for future financial stability / A.G. Malliaris, Leslie Shaw, and Hersh Shefrin

Judicial Fortitude

Author : Peter J. Wallison
ISBN : 1641770082
Genre : Law
File Size : 58. 94 MB
Format : PDF, ePub, Mobi
Download : 444
Read : 1303

Download Now


Introduction -- The administrative state and the rule of law -- The separation of powers and checks and balances -- Congress and the administrative state -- Progressivism and the rise of the administrative state -- Was the progressive faith in economic regulation justified? -- The nondelegation doctrine -- The Chevron doctrine -- Conclusion

Vanity Fair

Author :
ISBN : MINN:31951002801962E
Genre : Caricatures and cartoons
File Size : 50. 79 MB
Format : PDF, ePub
Download : 125
Read : 1112

Download Now



House Of Commons Debates

Author :
ISBN : NWU:35556038708889
Genre : Canada
File Size : 79. 42 MB
Format : PDF, ePub, Mobi
Download : 201
Read : 343

Download Now



House Of Commons Debates Official Report Hansard

Author :
ISBN : OSU:32435079618641
Genre : Canada
File Size : 71. 37 MB
Format : PDF, ePub, Docs
Download : 943
Read : 612

Download Now



Harper S Weekly

Author :
ISBN : STANFORD:36105020051913
Genre : United States
File Size : 80. 46 MB
Format : PDF, Docs
Download : 353
Read : 529

Download Now



American Economist

Author :
ISBN : WISC:89073017055
Genre : Economics
File Size : 79. 68 MB
Format : PDF, Mobi
Download : 610
Read : 1098

Download Now



Top Download:

Best Books