The bankers' new clothes : what's wrong with banking and what to do about it / Anat Admati and Martin Hellwig.

Format:

Book

Author/Creator:

Admati, Anat R., author.

Hellwig, Martin F., author.

Language:

English

Subjects (All):

Banks and banking.

Financial institutions--Government policy.

Financial institutions.

Financial crises--Prevention.

Financial crises.

Physical Description:

1 online resource (417 p.)

Edition:

Updated edition with a New Preface by the authors

Place of Publication:

Princeton, New Jersey ; Woodstock, England : Princeton University Press, 2013.

Language Note:

English

Summary:

The past few years have shown that risks in banking can impose significant costs on the economy. Many claim, however, that a safer banking system would require sacrificing lending and economic growth. The Bankers' New Clothes examines this claim and the narratives used by bankers, politicians, and regulators to rationalize the lack of reform, exposing them as invalid. Anat Admati and Martin Hellwig argue that we can have a safer and healthier banking system without sacrificing any of its benefits, and at essentially no cost to society. They seek to engage the broader public in the debate by cutting through the jargon of banking, clearing the fog of confusion, and presenting the issues in simple and accessible terms.

Contents:

Front matter

CONTENTS

Preface to the Paperback Edition

Preface

Acknowledgments

1. The Emperors of Banking Have No Clothes

PART I. Borrowing, Banking, and Risk

2. How Borrowing Magnifies Risk

3. The Dark Side of Borrowing

4. Is It Really "A Wonderful Life"?

5. Banking Dominos

PART II. The Case for More Bank Equity

6. What Can Be Done?

7. Is Equity Expensive?

8. Paid to Gamble

9. Sweet Subsidies

10. Must Banks Borrow So Much?

PART III. Moving Forward

11. If Not Now, When?

12. The Politics of Banking

13. Other People's Money

Notes

References

Index

Notes:

Description based upon print version of record.

Includes bibliographical references and index.

Description based on print version record.

ISBN:

9781400851195

140085119X

9781299051294

1299051294

9781400846566

1400846560

OCLC:

922639070