Admati / Hellwig The Bankers' New Clothes

What's Wrong with Banking and What to Do about It - Updated Edition
Updated Auflage
ISBN: 978-1-4008-5119-5
Verlag: De Gruyter
Format: EPUB
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 424 Seiten

Why our banking system is broken—and what we must do to fix it

As memories of the Global Financial Crisis have faded, it has been tempting to believe that the banking system is now safe and that we will never again have to choose between havoc and massive bailouts. But The Bankers’ New Clothes shows that reforms have changed little—and that the banks still present serious dangers to the world economy. Writing in clear language anyone can understand, Anat Admati and Martin Hellwig explain how we can have a healthier banking system without sacrificing any benefits. They also debunk the false and misleading narratives of bankers, regulators, politicians, academics, and others who oppose real reform.

Autoren/Hrsg.

Admati, Anat

Hellwig, Martin

Weitere Mitwirkende

Admati, Anat

Hellwig, Martin

Fachgebiete

• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein Wirtschaftstheorie, Wirtschaftsphilosophie
• Sozialwissenschaften Politikwissenschaft Politikwissenschaft Allgemein
• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Bankwirtschaft

Inhaltsverzeichnis

Preface to the Paperback Edition ix
Preface xiii
Acknowledgments xvii
1The Emperors of Banking Have No Clothes 1
PART I Borrowing, Banking, and Risk 15
2How Borrowing Magnifies Risk 17
3The Dark Side of Borrowing 32
4Is It Really "A Wonderful Life"? 46
5Banking Dominos 60
PART II The Case for More Bank Equity 79
6What Can Be Done? 81
7Is Equity Expensive? 100
8Paid to Gamble 115
9Sweet Subsidies 129
10Must Banks Borrow So Much? 148
PART III Moving Forward 167
11If Not Now, When? 169
12The Politics of Banking 192
13Other People’s Money 208
Notes 229
References 337
Index 363

Über Autor(innen)

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.