| Document Type
|
:
|
BL
|
| Record Number
|
:
|
701334
|
| Doc. No
|
:
|
b523523
|
| Main Entry
|
:
|
Friedman, Jeffrey,1959-
|
| Title & Author
|
:
|
Engineering the financial crisis : : systemic risk and the failure of regulation /\ Jeffrey Friedman and Wladimir Kraus.
|
| Edition Statement
|
:
|
1st ed.
|
| Publication Statement
|
:
|
Philadelphia :: University of Pennsylvania Press,, c2011.
|
| Page. NO
|
:
|
x, 212 p. :: ill. ;; 24 cm.
|
| ISBN
|
:
|
0812243579 (hardcover : alk. paper)
|
|
|
:
|
: 9780812243574 (hardcover : alk. paper)
|
| Bibliographies/Indexes
|
:
|
Includes bibliographical references (p. [175]-200) and index.
|
| Contents
|
:
|
Bonuses, irrationality, and too bigness : the conventional wisdom about the financial crisis and its theoretical implications -- Capital adequacy regulations and the financial crisis : bankers' and regulators' errors -- The interaction of regulations and the great recession : fetishizing market prices -- Capitalism and regulation : ignorance, heterogeneity, and systemic risk.
|
| Abstract
|
:
|
"In one of the first studies critically to examine the Basel Accords, this book reveals the crucial role that bank capital requirements and other government regulations played in the recent financial crisis. Jeffery Friedman and Wladmir Kraus argue that by encouraging banks to invest in highly rated mortgage-backed bonds, the Basel Accords created an overconcentration of risk in the banking industry. In addition, accounting regulations required banks to reduce lending if the temporary market value of these bonds declined, as they did in 2007 and 2008 during the panic over subprime mortgage defaults."--Jacket.
|
| Subject
|
:
|
Bank capital-- Law and legislation.
|
| Subject
|
:
|
Banks and banking-- Risk management.
|
| Subject
|
:
|
Economics-- Political aspects.
|
| Subject
|
:
|
Financial crises-- United States-- History-- 21st century.
|
| Subject
|
:
|
Global Financial Crisis, 2008-2009.
|
| Subject
|
:
|
Basel II, (2004)
|
|
|
:
|
Basle Accord, (1988)
|
| LC Classification
|
:
|
HB 3717 2008.F75 2011
|
| Added Entry
|
:
|
Kraus, Wladimir.
|
| Spine Title
|
:
|
Financial crisis
|