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Ending Government Bailouts as We Know Them (Hardcover, New)
Loot Price: R527
Discovery Miles 5 270
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Ending Government Bailouts as We Know Them (Hardcover, New)
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Loot Price R527
Discovery Miles 5 270
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This book examines the dangers of continuing government bailouts
and offers alternative strategies designed to produce growth based
on the vigor of the private sector with inflation under control.
The expert authors show that it is indeed possible to explain the
causes of the crisis in understandable terms and clarify why
resolving the bailout problem is esseHow Do We Make Failure
Tolerable?The American people are clearly upset about the massive
government bailouts of faltering organizations and the consequent
commitment of taxpayer dollars-as well as the heavy involvement of
the federal government in private sector activities. How do we
approach a problem of this magnitude? The key question, which
George Shultz presents at the outset, is: How do we make failure
tolerable? In other words, if clear and credible measures can be
put into place that convince everybody that failure will be
allowed, then the expectations of bailouts will recede and perhaps
even disappear. Perhaps more important, we would also get rid of
the risk-inducing behavior that even implicit government guarantees
bring about. In Ending Government Bailouts as We Know Them, a team
of expert contributors examine the dangers of continuing government
bailouts and offer constructive alternatives designed to both
resolve the current bailout problem and prevent future crises. The
other contributors follow up on Shultz's premise with discussions
on a range of key topics. They begin with the nature of systemic
risk-particularly in the experience of the Lehman Brothers
bankruptcy-and the reforms that financial firms can implement,
whether or not required by government regulatory agencies. They
also explore in detail the two main alternatives to government
bailouts in the case of a failing financial firm: bankruptcy versus
resolution authority. The book concludes with a summary of the
commentary on the chapters by formal discussants and the audience
at the conference, ranging from constructive critiques to strong
endorsements to ideas for future research.ntial to preventing
future crises.
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