Engineering the Financial Crisis: Systemic Risk and the Failure of Regulation. Jeffrey Friedman and Wladimir Kraus. University of Pennsylvania Press, 2011, pp.212, $45.00 The majority of individuals involved in the Occupy Wall Street (OWS) movement tend to blame Wall Street bankers for the financial crisis and the ensuing recession and high unemployment rates. By contrast, [...]
Too Much or Too Little Regulation?
New Directions in Financial Services Regulation. Edited by Roger B. Porter, Robert R. Glauber, and Thomas J. Healey. The MIT Press 2011, pp. 227, $35.00 What caused the financial crisis of 2008? Three years after the American financial system teetered on the brink of collapse, analysts and pundits have proffered differing theories as to how [...]
EU Insurance Regulation
Executive’s Guide to Solvency II. David Buckham, Jason Wahl, and Stuart Rose. John Wiley & Sons 2011, pp.194, $95.00 In the United States, the states, rather than the federal government, are primarily responsible for regulating the insurance industry and the business of insurance. This is due to both longstanding custom and, most significantly, to Congress’ [...]