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The Bankers’ New Clothes: What’s Wrong with Banking and What to Do about It (New and Expanded Edition)

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New bank failures have been a rude awakening for everyone who believed that the banking industry was reformed after the Global Financial Crisis—and that we’d never again have to choose between massive bailouts and financial havoc. The Bankers’ New Clothes uncovers just how little things have changed—and why banks are still so dangerous. Writing in clear language that anyone can understand, Anat Admati and Martin Hellwig debunk the false and misleading claims of bankers, regulators, politicians, academics, and others who oppose effective reform, and they explain how the banking system can be made safer and healthier. Thoroughly updated for a world where bank failures have made a dramatic return, this acclaimed and important book now features a new preface and four new chapters that expose the shortcomings of current policies and reveal how the dominance of banking even presents dangers to the rule of law and democracy itself.

Συγγραφείς: Admati Anat, Hellwig Martin
Εκδότης: PRINCETON UNIVERSITY PRESS
Σελίδες: 624
ISBN: 9780691251707
Εξώφυλλο: Μαλακό Εξώφυλλο
Αριθμός Έκδοσης: 1
Έτος έκδοσης: 2024
  • 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

Anat Admati is a professor at the Stanford Graduate School of Business. She has written for the New York Times and the Financial Times and has been included in Time’s 100 Most Influential People and Foreign Policy’s 100 Leading Global Thinkers. 

Martin Hellwig is director emeritus at the Max Planck Institute for Research on Collective Goods in Bonn and former chair of the German Monopolies Commission and the Advisory Scientific Committee of the European Systemic Risk Board.

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