1.

Record Nr.

UNINA9910809190003321

Titolo

Restoring financial stability [[electronic resource] ] : how to repair a failed system / / Viral Acharya, Matthew Richardson, editors

Pubbl/distr/stampa

Hoboken, N.J., : John Wiley & Sons, c2009

ISBN

0-470-50108-1

1-282-55084-5

9786612550843

1-118-25816-9

0-470-50106-5

Descrizione fisica

1 online resource (418 p.)

Collana

Wiley finance series

Altri autori (Persone)

AcharyaViral V

RichardsonMatthew <1964->

Disciplina

339.50973

Soggetti

Finance - United States

Financial crises - Government policy - United States

Banks and banking - United States

Financial services industry - United States

United States Economic conditions 2001-2009

Lingua di pubblicazione

Inglese

Formato

Materiale a stampa

Livello bibliografico

Monografia

Note generali

Description based upon print version of record.

Nota di bibliografia

Includes bibliographical references and index.

Nota di contenuto

Restoring Financial Stability: How to Repair a Failed System; Contents; Foreword; Acknowledgments; Prologue: A Bird's-Eye View; P.1 THE FINANCIAL CRISIS OF 2007-2009; P.2 REQUIEM FOR THE SHADOW BANKING SECTOR; P.3 CAUSES; P.4 EFFICIENT REGULATION: PRINCIPLES AND PROPOSALS; P.5 DESCRIPTION OF PUBLIC INTERVENTIONS TO STABILIZE THE FINANCIAL SYSTEM AND ASSESSMENT OF THEIR EFFICACY; P.6 THE NEED FOR INTERNATIONAL COORDINATION; APPENDIX: TIME LINE OF CRISIS; NOTES; Part One: Causes of the Financial Crisis of 2007-2009; Chapter 1: Mortgage Origination and Securitization in the Financial Crisis

Chapter 2: How Banks Played the Leverage GameChapter 3: The Rating Agencies: Is Regulation the Answer?; Part Two: Financial Institutions; Chapter 4: What to Do about the Government-Sponsored Enterprises?; Chapter 5: Enhanced Regulation of Large, Complex Financial



Institutions; Chapter 6: Hedge Funds in the Aftermath of the Financial Crisis; Part Three: Governance, Incentives, and Fair Value Accounting Overview; Chapter 7: Corporate Governance in the Modern Financial Sector; Chapter 8: Rethinking Compensation in Financial Firms

Chapter 9: Fair Value Accounting: Policy Issues Raised by the Credit CrunchPart Four: Derivatives, Short Selling, and Transparency; Chapter 10: Derivatives: The Ultimate Financial Innovation; Chapter 11: Centralized Clearing for Credit Derivatives; Chapter 12: Short Selling; Part Five: The Role of the Federal Reserve; Chapter 13: Regulating Systemic Risk; Chapter 14: Private Lessons for Public Banking: The Case for Conditionality in LOLR Facilities; Part Six: The Bailout; Chapter 15: The Financial Sector Bailout: Sowing the Seeds of the Next Crisis?; Chapter 16: Mortgages and Households

Chapter 17: Where Should the Bailout Stop?Part Seven: International Coordination; Chapter 18: International Alignment of Financial Sector Regulation; About the Authors; Index

Sommario/riassunto

An insightful look at how to reform our broken financial system  The financial crisis that unfolded in September 2008 transformed the United States and world economies. As each day's headlines brought stories of bank failures and rescues, government policies drawn and redrawn against the backdrop of an historic Presidential election, and solutions that seemed to be discarded almost as soon as they were proposed, a group of thirty-three academics at New York University Stern School of Business began tackling the hard questions behind the headlines. Representing fields of finance, economics