Notice bibliographique
- Notice
Type(s) de contenu et mode(s) de consultation : Texte noté : électronique
Auteur(s) : Barth, James R.
Caprio, Gerard
Levine, Ross
Titre(s) : Guardians of finance [Texte électronique] : making regulators work for us / James R. Barth, Gerard Caprio, Jr., and Ross Levine
Publication : Cambridge, Mass. : MIT Press, cop. 2012
Description matérielle : 1 online resource (xiii, 280 pages)
Note(s) : "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. And policy makers? They did everything they could, given their limited authority.
It was all a terrible, unavoidable accident. 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, had years to process the evidence that risks were rising,
had the authority to change their policies--and yet chose not to act until the crisis
had fully emerged. The current system, the authors write, is simply not designed to
make policy choices on behalf of the public. It is virtually impossible for the public
and its elected officials to obtain informed and impartial assessment of financial
regulation and to hold regulators accountable. 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"--Provided
by publisher.
Sujet(s) : Crises financières -- États-Unis
Finances -- Politique publique -- États-Unis
Institutions financières -- États-Unis
Banques -- États-Unis
Identifiants, prix et caractéristiques : ISBN 9780262301527
Identifiant de la notice : ark:/12148/cb42762217z
Notice n° :
FRBNF42762217
(notice reprise d'un réservoir extérieur)
Table des matières : Introduction -- Regulating finance is hard to do -- Incentives run amok -- How U.S.
regulators encouraged the financial crisis -- American crisis? Ain't necessarily so
-- Been down this road many times before -- More of the same: post 2007-2009 financial
crisis regulation -- Making the guardians of finance work for us.