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The financial crisis : = who is to b...

Davies, H. (1951-)

The financial crisis : = who is to blame? /

Record Type:	Language materials, printed : Monograph/item
Title/Author:	The financial crisis :/ Howard Davies.
Reminder of title:	who is to blame? /
Author:	Davies, H.
Published:	Cambridge, UK ;Polity Press, : c2010.,
Description:	vi, 229 p. ;24 cm.;
Subject:	Global Financial Crisis, 2008-2009. -
Online resource:	http://www.polity.co.uk/book.asp?ref=9780745651637
ISBN:	9780745651637 (cloth) :

The financial crisis : = who is to blame? /
Davies, H.1951-

The financial crisis :who is to blame? /Howard Davies. - Cambridge, UK ;Polity Press,c2010. - vi, 229 p. ;24 cm.

Includes bibliographical references and index.

The big picture. Frankenstein's monster: the end of laissez-faire capitalism ; The rich get richer, the poor borrow ; The savings glut: global imbalances ; Too loose for too long: U.S. monetary policy -- The trigger. Minsky's moment ; The subprime collapse: a failure of government? -- The failures of regulation. A capital shortage ; Procyclicality ; The canary in the coal mine: off-balance sheet vehicles ; The taxi at the station: liquidity ; The blind man and the elephant: U.S. regulation ; SEC, RIP? ; Financial weapons of mass destruction: derivatives ; Federal mortgage regulation ; Casino banking: the end of Glass-Steagall ; Too big to fail ; Lighting the touchpaper: light touch regulation ; There were three people in the marriage: UK regulation ; A failure of coordination ; Paradise lost: offshore centres -- Accountants, auditors and rating agencies. Shoot the messenger: fair value accounting ; Tunnel vision: the auditors ; Conflicts of interest: credit rating agencies -- Financial firms and markets. Breaking the chain: originate to distribute ; Too complex to trade: derivatives ; Disaster myopia: risk management ; The roach motel: corporate governance ; Blankfein's bonus: pay and incentives ; The vampire squid: fraud ; A plague of locusts: hedge funds ; Short-selling -- Economics and finance theory: irrational expectations. The death of economics ; Inefficient markets ; An ethics-free zone: business schools -- Wild cards. The watchdog that didn't bark: the media ; Greed is bad ; Lara Croft: video games ; Hormones -- And finally. A combustible mixture.

"There is still no consensus on who or what caused the financial crisis which engulfed the world, beginning in the summer of 2007. A huge number of suspects have been identified, from greedy investment bankers, through feckless borrowers, dilatory regulators and myopic central bankers to violent video games and high levels of testosterone among the denizens of trading floors. There is not even agreement on whether the crisis shows a need for more government intervention in markets, or less: some maintain that government encouragement of home ownership lay at the heart of the problem in the US, in particular. In The Financial Crisis Howard Davies charts a course through these arguments, and the evidence advanced for each of them. The reader can thereby assess the weight to be attached to each, and the likely effectiveness of the remedies under development."- -Description viewed from website on 21 Sept. 2010.

ISBN: 9780745651637 (cloth) :NT2094

LCCN: 2011280543Subjects--Topical Terms:

775108
Global Financial Crisis, 2008-2009.

LC Class. No.: HB3717 2008 / .D384 2010

The financial crisis : = who is to blame? /
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245 1 4 $a The financial crisis : $b who is to blame? / $c Howard Davies.
260 $a Cambridge, UK ; $a Malden, MA : $c c2010. $b Polity Press,
300 $a vi, 229 p. ; $c 24 cm.
504 $a Includes bibliographical references and index.
505 0 $a The big picture. Frankenstein's monster: the end of laissez-faire capitalism ; The rich get richer, the poor borrow ; The savings glut: global imbalances ; Too loose for too long: U.S. monetary policy -- The trigger. Minsky's moment ; The subprime collapse: a failure of government? -- The failures of regulation. A capital shortage ; Procyclicality ; The canary in the coal mine: off-balance sheet vehicles ; The taxi at the station: liquidity ; The blind man and the elephant: U.S. regulation ; SEC, RIP? ; Financial weapons of mass destruction: derivatives ; Federal mortgage regulation ; Casino banking: the end of Glass-Steagall ; Too big to fail ; Lighting the touchpaper: light touch regulation ; There were three people in the marriage: UK regulation ; A failure of coordination ; Paradise lost: offshore centres -- Accountants, auditors and rating agencies. Shoot the messenger: fair value accounting ; Tunnel vision: the auditors ; Conflicts of interest: credit rating agencies -- Financial firms and markets. Breaking the chain: originate to distribute ; Too complex to trade: derivatives ; Disaster myopia: risk management ; The roach motel: corporate governance ; Blankfein's bonus: pay and incentives ; The vampire squid: fraud ; A plague of locusts: hedge funds ; Short-selling -- Economics and finance theory: irrational expectations. The death of economics ; Inefficient markets ; An ethics-free zone: business schools -- Wild cards. The watchdog that didn't bark: the media ; Greed is bad ; Lara Croft: video games ; Hormones -- And finally. A combustible mixture.
520 0 $a "There is still no consensus on who or what caused the financial crisis which engulfed the world, beginning in the summer of 2007. A huge number of suspects have been identified, from greedy investment bankers, through feckless borrowers, dilatory regulators and myopic central bankers to violent video games and high levels of testosterone among the denizens of trading floors. There is not even agreement on whether the crisis shows a need for more government intervention in markets, or less: some maintain that government encouragement of home ownership lay at the heart of the problem in the US, in particular. In The Financial Crisis Howard Davies charts a course through these arguments, and the evidence advanced for each of them. The reader can thereby assess the weight to be attached to each, and the likely effectiveness of the remedies under development."- -Description viewed from website on 21 Sept. 2010.
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650 0 $a Bank failures $z United States. $3 814968
650 0 $a Banking law $z United States. $3 715744
650 0 $a Off balance sheet financing $z United States. $3 839267
650 0 $a Intervention (Federal government) $z United States. $3 839268
650 0 $a Credit ratings $z United States. $3 839269
856 4 0 $a Description and Table of Contents : $u http://www.polity.co.uk/book.asp?ref=9780745651637