The Banking Dead
Zombie Banks: How Broken Banks And Debtor Nations Are Crippling the Global Economy. Yalman Onaran. Bloomberg Press, 2012, pp. 184, $34.95 Over the past several years, both the Tea Party and Occupy Wall Street (OWS) have been at the forefront of criticizing the federal government’s bailout of large financial institutions. While their criticism is generally [...]
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, [...]
The Perils of Short-Term Thinking
Saving Capitalism From Short-Termism: How To Build Long-Term Value and Take Back Our Financial Future. Alfred Rappaport. McGraw-Hill 2011, pp.235, $30.00 Capitalism and the viability of the free market system are in crisis, perhaps to a degree not seen since the Great Depression. Protesters in New York City and other major American cities are rallying [...]
The American Mortgage System: Crisis and Reform. Edited by Susan M. Wachter and Marvin M. Smith. University of Pennsylvania Press 2011, pp.392, $49.95 There is a direct correlation between the housing bubble and the freezing up of the credit markets in 2008. Indeed, many commentators have held the largely unregulated derivatives market – much of [...]