Guardians of Finance - Making Regulators Work for Us (Paperback)

How the unaccountable, unmonitorable, and unchecked actions of regulators precipitated the global financial crisis; and how to reform the system. The recent financial crisis was an accident, a "perfect storm" fueled by an unforeseeable confluence of events that unfortunately combined to bring down the global financial systems. Or at least this is the story told and retold by a chorus of luminaries that includes Timothy Geithner, Henry Paulson, Robert Rubin, Ben Bernanke, and Alan Greenspan. In Guardians of Finance, economists James Barth, Gerard Caprio, and Ross Levine argue that the financial meltdown of 2007 to 2009 was no accident; it was negligent homicide. They show that senior regulatory officials around the world knew or should have known that their policies were destabilizing the global financial system and yet chose not to act until the crisis had fully emerged. Barth, Caprio, and Levine propose a reform to counter this systemic failure: the establishment of a "Sentinel" to provide an informed, expert, and independent assessment of financial regulation. Its sole power would be to demand information and to evaluate it from the perspective of the public-rather than that of the financial industry, the regulators, or politicians.

General

Imprint:	MIT Press
Country of origin:	United States
Series:	Guardians of Finance
Release date:	September 2014
First published:	2012
Authors:	James R Barth (Lowder Eminent Scholar in Finance) • Gerard Caprio (Professor) • Ross Levine (William H. Booth Chair in Banking and Finance)
Dimensions:	220 x 148 x 19mm (L x W x T)
Format:	Paperback - Trade
Pages:	280
ISBN-13:	978-0-262-52684-5
Categories:	Books > Business & Economics > Economics > Financial crises & disasters Books > Social sciences > Politics & government > Central government > Central government policies Books > Business & Economics > Finance & accounting > Finance > General Books > Money & Finance > General
LSN:	0-262-52684-0
Barcode:	9780262526845

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