Ending government bailouts as we know them / / edited by Kenneth E. Scott, George P. Shultz, John B. Taylor ; authors, Nicholas F. Brady ... [et al.]

• Record Nr.: UNINA9910814935903321
• Pubbl/distr/stampa: Stanford, Calif., : Hoover Institution Press, c2009
• ISBN: 0-8179-1123-5; 0-8179-1128-6
• Edizione: [1st ed.]
• Descrizione fisica: 1 online resource (353 p.)
• Collana: Hoover Institution Press publication ; ; 588
• Altri autori (Persone): ScottKenneth E; ShultzGeorge Pratt <1920->; TaylorJohn B; BradyNicholas F
• Disciplina: 338.4/8
• Soggetti: Financial crises - United States; Bank failures - United States; Intervention (Federal government) - United States; Bailouts (Government policy)
• 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: Front Cover; Book Title; Copyright; Contents; Preface; Acknowledgments; Part I -The Danger of Bailouts and Key Principles of Reform; 1. Make Failure Tolerable -George P. Shultz; 2. Financial Reforms to End GovernmentBailouts as We Know Them -Paul Volcker; 3. Fifty Years in the Business: From Wall Streetto the Treasury and Beyond -Nicholas F. Brady; Part II - Systemic Risk in Theory and in Practice; 4. Defining Systemic Risk Operationally -John B. Taylor; 5. Lessons Learned from the Lehman Bankruptcy -Kimberly Anne Summe; Part III - What Financial Firms Can Do; 6. A Contractual Approach to RestructuringFinancial Institutions -Darrell Duffie7. Wind-down Plans as an Alternativeto Bailouts: The Cross-Border Challenges -Richard J. Herring; 8. Wind-down Plans, Incomplete Contracting,and Renegotiation Risk:Lessons From Tiger Woods -Joseph A. Grundfest; Part IV - Bankruptcy versus Resolution Authority; 9. Expanding FDIC-Style Resolution Authority -William F. ; Kroener III; 10. The Kansas City Plan - Thomas M. Hoenig, Charles S. Morris, and Kenneth Spong; 11. Chapter 11F: A Proposal for the Use ofBankruptcy to Resolve Financial Institutions -Thomas H. Jackson12. Evaluating Failure Resolution Plans -Kenneth E. Scott; A Summary of the Commentary -Johannes Stroebel; A Conversation about Key Conclusions -George P. Shultz and John B. Taylor; Appendix - The Financial Crisis:Causes and Lessons -Kenneth E. Scott; About the Authors; Index
• Sommario/riassunto: This book examines the dangers of continuing government bailouts and offers alternative strategies designed to produce growth based on the vigor of the private sector with inflation under control. The expert authors show that it is indeed possible to explain the causes of the crisis in understandable terms and clarify why resolving the bailout problem is essential to preventing future crises.