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, author.

Hellwig, Martin, author.

Language:

English

Subjects (All):

Banks and banking.

Financial institutions--Government policy.

Financial institutions.

Financial crises--Prevention.

Financial crises.

Physical Description:

1 online resource (xx, 604 pages) : illustrations.

Edition:

New and expanded edition.

Place of Publication:

Princeton, New Jersey : Princeton University Press, [2024]

Summary:

As memories of the Global Financial Crisis have faded, it has been tempting to believe that the banking system is now safe and that we will never again have to choose between havoc and massive bailouts. But The Bankers' New Clothes shows that reforms have changed little-and that the banks still present serious dangers to the world economy. Writing in clear language that anyone can understand, Anat Admati and Martin Hellwig explain how we can have a healthier banking system without sacrificing any benefits. They also debunk the false and misleading narratives of bankers, regulators, politicians, academics, and others who oppose real reform.

Contents:

Frontmatter

Contents

Preface to the 2024 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

PART IV: Undermining Democracy and the Rule of Law

14. Too Fragile Still

15. Bailouts and Central Banks

16. Bailouts Forever

17. Above the Law?

Notes

References

Index

Notes:

"First published by Princeton University Press in 2013. New paperback edition, with new and expanded material by the authors, 2024."--Title page verso.

Includes bibliographical references and index.

Description based on publisher supplied metadata and other sources.

ISBN:

9780691251714

0691251711

OCLC:

1414454895