LEADER 04531nam 2200781Ia 450 001 9910785781503321 005 20200520144314.0 010 $a0-231-52173-1 024 7 $a10.7312/wrig15054 035 $a(CKB)2670000000241471 035 $a(EBL)908653 035 $a(OCoLC)818856263 035 $a(SSID)ssj0000750230 035 $a(PQKBManifestationID)12317476 035 $a(PQKBTitleCode)TC0000750230 035 $a(PQKBWorkID)10748984 035 $a(PQKB)10977561 035 $a(DE-B1597)459448 035 $a(OCoLC)1013962593 035 $a(OCoLC)979904264 035 $a(DE-B1597)9780231521734 035 $a(Au-PeEL)EBL908653 035 $a(CaPaEBR)ebr10595919 035 $a(CaONFJC)MIL853705 035 $z(PPN)233900004 035 $a(PPN)201884232 035 $a(MiAaPQ)EBC908653 035 $a(EXLCZ)992670000000241471 100 $a20090801d2009 uy 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 00$aBailouts$b[electronic resource] $epublic money, private profit /$fedited by Robert E. Wright 210 $aNew York $cColumbia University Press$dc2009 215 $a1 online resource (161 p.) 225 1 $aA Columbia/SSRC book 225 0$aColumbia University Press and Social Science Research Council series on the privatization of risk 300 $aDescription based upon print version of record. 311 $a0-231-15054-7 311 $a0-231-15055-5 320 $aIncludes bibliographical references. 327 $tFrontmatter -- $tContents -- $tIntroduction. To Bail or Not to Bail? / $rWright, Robert E. -- $t1. Hybrid Failures and Bailouts. Social Costs, Private Profits / $rWright, Robert E. -- $t2. Financial Crises and Government Responses. Lessons Learned / $rGup, Benton E. -- $t3. The Evolution of the Reconstruction Finance Corporation as a Lender of Last Resort in the Great Depression / $rMason, Joseph R. -- $t4. After the Storm. The Long-Run Impact of Bank Bailouts / $rRosas, Guillermo / Jensen, Nathan M. -- $tContributors 330 $aToday's financial crisis is the result of dismal failures on the part of regulators, market analysts, and corporate executives. Yet the response of the American government has been to bail out the very institutions and individuals that have wrought such havoc upon the nation. Are such massive bailouts really called for? Can they succeed?Robert E. Wright and his colleagues provide an unbiased history of government bailouts and a frank assessment of their effectiveness. Their book recounts colonial America's struggle to rectify the first dangerous real estate bubble and the British government's counterproductive response. It explains how Alexander Hamilton allowed central banks and other lenders to bail out distressed but sound businesses without rewarding or encouraging the risky ones. And it shows how, in the second half of the twentieth century, governments began to bail out distressed companies, industries, and even entire economies in ways that subsidized risk takers while failing to reinvigorate the economy. By peering into the historical uses of public money to save private profit, this volume suggests better ways to control risk in the future.Additional Columbia / SSRC books on the privatization of risk and its implications for Americans:Health at Risk: America's Ailing Health System--and How to Heal ItEdited by Jacob S. HackerLaid Off, Laid Low: Political and Economic Consequences of Employment InsecurityEdited by Katherine S. NewmanPensions, Social Security, and the Privatization of RiskEdited by Mitchell A. Orenstein 410 0$aColumbia/SSRC book. 606 $aBank failures$zUnited States 606 $aCorporate reorganizations$zUnited States 606 $aCorporate turnarounds$zUnited States 606 $aFinance$xGovernment policy$zUnited States 606 $aFinancial crises$zUnited States 606 $aIntervention (Federal government)$zUnited States 615 0$aBank failures 615 0$aCorporate reorganizations 615 0$aCorporate turnarounds 615 0$aFinance$xGovernment policy 615 0$aFinancial crises 615 0$aIntervention (Federal government) 676 $a338.973/02 686 $a85.30$2bcl 701 $aWright$b Robert E$g(Robert Eric),$f1969-$0286277 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910785781503321 996 $aBailouts$93794308 997 $aUNINA