Preventing a Repeat of the Money Market Meltdown of the Early 1930s

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Publisher : DIANE Publishing
ISBN 13 : 1437935591
Total Pages : 51 pages
Book Rating : 4.4/5 (379 download)

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Book Synopsis Preventing a Repeat of the Money Market Meltdown of the Early 1930s by : John V. Duca

Download or read book Preventing a Repeat of the Money Market Meltdown of the Early 1930s written by John V. Duca and published by DIANE Publishing. This book was released on 2010-10 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analyzes the meltdown of the commercial paper market during the Great Depression, and relates those findings to the recent financial crisis. Theoretical models of financial frictions and information problems imply that lenders will make fewer non-collateralized loans or investments and relatively more extensions of collateralized finance in times of high risk premiums. This study investigates the relevance of such theories to the Great Depression by analyzing whether the increased use of a collateralized form of business lending relative to that of non-collateralized commercial paper can be econometrically attributable to measures of corporate credit/financial risk premiums. Charts and tables.

The Financial Crisis Inquiry Report

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Author :
Publisher : Cosimo, Inc.
ISBN 13 : 1616405414
Total Pages : 692 pages
Book Rating : 4.6/5 (164 download)

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Book Synopsis The Financial Crisis Inquiry Report by : Financial Crisis Inquiry Commission

Download or read book The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and published by Cosimo, Inc.. This book was released on 2011-05-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.

The Panic of 1907

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Publisher : John Wiley & Sons
ISBN 13 : 0470452587
Total Pages : 296 pages
Book Rating : 4.4/5 (74 download)

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Book Synopsis The Panic of 1907 by : Robert F. Bruner

Download or read book The Panic of 1907 written by Robert F. Bruner and published by John Wiley & Sons. This book was released on 2009-04-27 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Before reading The Panic of 1907, the year 1907 seemed like a long time ago and a different world. The authors, however, bring this story alive in a fast-moving book, and the reader sees how events of that time are very relevant for today's financial world. In spite of all of our advances, including a stronger monetary system and modern tools for managing risk, Bruner and Carr help us understand that we are not immune to a future crisis." —Dwight B. Crane, Baker Foundation Professor, Harvard Business School "Bruner and Carr provide a thorough, masterly, and highly readable account of the 1907 crisis and its management by the great private banker J. P. Morgan. Congress heeded the lessons of 1907, launching the Federal Reserve System in 1913 to prevent banking panics and foster financial stability. We still have financial problems. But because of 1907 and Morgan, a century later we have a respected central bank as well as greater confidence in our money and our banks than our great-grandparents had in theirs." —Richard Sylla, Henry Kaufman Professor of the History of Financial Institutions and Markets, and Professor of Economics, Stern School of Business, New York University "A fascinating portrayal of the events and personalities of the crisis and panic of 1907. Lessons learned and parallels to the present have great relevance. Crises and panics are as much a part of our future as our past." —John Strangfeld, Vice Chairman, Prudential Financial "Who would have thought that a hundred years after the Panic of 1907 so much remained to be written about it? Bruner and Carr break significant new ground because they are willing to do the heavy lifting of combing through massive archival material to identify and weave together important facts. Their book will be of interest not only to banking theorists and financial historians, but also to business school and economics students, for its rare ability to teach so clearly why and how a panic unfolds." —Charles Calomiris, Henry Kaufman Professor of Financial Institutions, Columbia University, Graduate School of Business

The Federal Reserve System Purposes and Functions

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Author :
Publisher :
ISBN 13 : 9780894991967
Total Pages : 0 pages
Book Rating : 4.9/5 (919 download)

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Book Synopsis The Federal Reserve System Purposes and Functions by : Board of Governors of the Federal Reserve System

Download or read book The Federal Reserve System Purposes and Functions written by Board of Governors of the Federal Reserve System and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.

Financial Crises Explanations, Types, and Implications

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1475561008
Total Pages : 66 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Financial Crises Explanations, Types, and Implications by : Mr.Stijn Claessens

Download or read book Financial Crises Explanations, Types, and Implications written by Mr.Stijn Claessens and published by International Monetary Fund. This book was released on 2013-01-30 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.

Financial Markets and Financial Crises

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Author :
Publisher : University of Chicago Press
ISBN 13 : 9780226355887
Total Pages : 420 pages
Book Rating : 4.3/5 (558 download)

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Book Synopsis Financial Markets and Financial Crises by : R. Glenn Hubbard

Download or read book Financial Markets and Financial Crises written by R. Glenn Hubbard and published by University of Chicago Press. This book was released on 1991-08-13 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: Warnings of the threat of an impending financial crisis are not new, but do we really know what constitutes an actual episode of crisis and how, once begun, it can be prevented from escalating into a full-blown economic collapse? Using both historical and contemporary episodes of breakdowns in financial trade, contributors to this volume draw insights from theory and empirical data, from the experience of closed and open economies worldwide, and from detailed case studies. They explore the susceptibility of American corporations to economic downturns; the origins of banking panics; and the behavior of financial markets during periods of crisis. Sever papers specifically address the current thrift crisis—including a detailed analysis of the over 500 FSLIC-insured thrifts in the southeast—and seriously challenge the value of recent measures aimed at preventing future collapse in that industry. Government economists and policy makers, scholars of industry and banking, and many in the business community will find these timely papers an invaluable reference.

13 Bankers

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Publisher : Vintage
ISBN 13 : 030747660X
Total Pages : 338 pages
Book Rating : 4.3/5 (74 download)

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Book Synopsis 13 Bankers by : Simon Johnson

Download or read book 13 Bankers written by Simon Johnson and published by Vintage. This book was released on 2011-01-11 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt: In spite of its key role in creating the ruinous financial crisis of 2008, the American banking industry has grown bigger, more profitable, and more resistant to regulation than ever. Anchored by six megabanks whose assets amount to more than 60 percent of the country’s gross domestic product, this oligarchy proved it could first hold the global economy hostage and then use its political muscle to fight off meaningful reform. 13 Bankers brilliantly charts the rise to power of the financial sector and forcefully argues that we must break up the big banks if we want to avoid future financial catastrophes. Updated, with additional analysis of the government’s recent attempt to reform the banking industry, this is a timely and expert account of our troubled political economy.

History of the Eighties

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Publisher :
ISBN 13 :
Total Pages : 594 pages
Book Rating : 4.:/5 (327 download)

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Book Synopsis History of the Eighties by :

Download or read book History of the Eighties written by and published by . This book was released on 1997 with total page 594 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Great Crash 1929

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Publisher : Houghton Mifflin Harcourt
ISBN 13 : 9780547248165
Total Pages : 228 pages
Book Rating : 4.2/5 (481 download)

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Book Synopsis The Great Crash 1929 by : John Kenneth Galbraith

Download or read book The Great Crash 1929 written by John Kenneth Galbraith and published by Houghton Mifflin Harcourt. This book was released on 2009 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: The classic examination of the 1929 financial collapse, with an introduction by economist James K. Galbraith Of John Kenneth Galbraith's The Great Crash 1929, the Atlantic Monthly said: "Economic writings are seldom notable for their entertainment value, but this book is. Galbraith's prose has grace and wit, and he distills a good deal of sardonic fun from the whopping errors of the nation's oracles and the wondrous antics of the financial community." Originally published in 1955, Galbraith's book became an instant bestseller, and in the years since its release it has become the unparalleled point of reference for readers looking to understand American financial history."

The Banking Panics of the Great Depression

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Publisher : Cambridge University Press
ISBN 13 : 9780521663465
Total Pages : 196 pages
Book Rating : 4.6/5 (634 download)

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Book Synopsis The Banking Panics of the Great Depression by : Elmus Wicker

Download or read book The Banking Panics of the Great Depression written by Elmus Wicker and published by Cambridge University Press. This book was released on 2000-12-04 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first study of five US banking panics of the Great Depression. Wicker's findings challenge many of the commonly held assumptions about the events of 1930 and 1931, and will be of use to monetary and financial historians and macroeconomists.

Balancing the Banks

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Publisher : Princeton University Press
ISBN 13 : 0691168199
Total Pages : 148 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis Balancing the Banks by : Mathias Dewatripont

Download or read book Balancing the Banks written by Mathias Dewatripont and published by Princeton University Press. This book was released on 2015-09-22 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial crisis that began in 2007 in the US swept the world, producing substantial bank failures and forcing unprecedented state aid for the crippled global financial system. This book draws critical lessons from the causes of the crisis and proposes important regulatory reforms.

Panic of 1819: Reactions and Policies, The

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Author :
Publisher : Ludwig von Mises Institute
ISBN 13 : 1610163702
Total Pages : 286 pages
Book Rating : 4.6/5 (11 download)

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Book Synopsis Panic of 1819: Reactions and Policies, The by : Murray Newton Rothbard

Download or read book Panic of 1819: Reactions and Policies, The written by Murray Newton Rothbard and published by Ludwig von Mises Institute. This book was released on 2007 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Great Inflation

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Publisher : University of Chicago Press
ISBN 13 : 0226066959
Total Pages : 545 pages
Book Rating : 4.2/5 (26 download)

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Book Synopsis The Great Inflation by : Michael D. Bordo

Download or read book The Great Inflation written by Michael D. Bordo and published by University of Chicago Press. This book was released on 2013-06-28 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today’s global and increasingly complex economic environment.

The Forgotten Depression

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Publisher : Simon and Schuster
ISBN 13 : 1451686463
Total Pages : 272 pages
Book Rating : 4.4/5 (516 download)

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Book Synopsis The Forgotten Depression by : James Grant

Download or read book The Forgotten Depression written by James Grant and published by Simon and Schuster. This book was released on 2014 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: "By the publisher of the prestigious Grant's Interest Rate Observer, an account of the deep economic slump of 1920-21 that proposes, with respect to federal intervention, "less is more." This is a free-market rejoinder to the Keynesian stimulus applied by Bush and Obama to the 2007-09 recession, in whose aftereffects, Grant asserts, the nation still toils. James Grant tells the story of America's last governmentally-untreated depression; relatively brief and self-correcting, it gave way to the Roaring Twenties. His book appears in the fifth year of a lackluster recovery from the overmedicated downturn of 2007-2009. In 1920-21, Woodrow Wilson and Warren G. Harding met a deep economic slump by seeming to ignore it, implementing policies that most twenty-first century economists would call backward. Confronted with plunging prices, wages, and employment, the government balanced the budget and, through the Federal Reserve, raised interest rates. No "stimulus" was administered, and a powerful, job-filled recovery was under way by late in 1921. In 1929, the economy once again slumped--and kept right on slumping as the Hoover administration adopted the very policies that Wilson and Harding had declined to put in place. Grant argues that well-intended federal intervention, notably the White House-led campaign to prop up industrial wages, helped to turn a bad recession into America's worst depression. He offers the experience of the earlier depression for lessons for today and the future. This is a powerful response to the prevailing notion of how to fight recession. The enterprise system is more resilient than even its friends give it credit for being, Grant demonstrates"--

Monetary Policy and the Housing Bubble

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Publisher : DIANE Publishing
ISBN 13 : 1437985297
Total Pages : 64 pages
Book Rating : 4.4/5 (379 download)

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Book Synopsis Monetary Policy and the Housing Bubble by :

Download or read book Monetary Policy and the Housing Bubble written by and published by DIANE Publishing. This book was released on with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:

All the Devils Are Here

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Author :
Publisher : Penguin
ISBN 13 : 1101551054
Total Pages : 503 pages
Book Rating : 4.1/5 (15 download)

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Book Synopsis All the Devils Are Here by : Bethany McLean

Download or read book All the Devils Are Here written by Bethany McLean and published by Penguin. This book was released on 2011-08-30 with total page 503 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hailed as "the best business book of 2010" (Huffington Post), this New York Times bestseller about the 2008 financial crisis brings the devastation of the Great Recession to life. As soon as the financial crisis erupted, the finger-pointing began. Should the blame fall on Wall Street, Main Street, or Pennsylvania Avenue? On greedy traders, misguided regulators, sleazy subprime companies, cowardly legislators, or clueless home buyers? According to Bethany McLean and Joe Nocera, two of America's most acclaimed business journalists, many devils helped bring hell to the economy. All the Devils Are Here goes back several decades to weave the hidden history of the financial crisis in a way no previous book has done. It explores the motivations of everyone from famous CEOs, cabinet secretaries, and politicians to anonymous lenders, borrowers, analysts, and Wall Street traders. It delves into the powerful American mythology of homeownership. And it proves that the crisis ultimately wasn't about finance at all; it was about human nature. Just as McLean's The Smartest Guys in the Room was hailed as the best Enron book on a crowded shelf, so will All the Devils Are Here be remembered for finally making sense of the financial meltdown and its consequences.

Taming the Megabanks

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Publisher : Oxford University Press
ISBN 13 : 0190260718
Total Pages : 256 pages
Book Rating : 4.1/5 (92 download)

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Book Synopsis Taming the Megabanks by : Arthur E. Wilmarth Jr

Download or read book Taming the Megabanks written by Arthur E. Wilmarth Jr and published by Oxford University Press. This book was released on 2020-09-15 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Banks were allowed to enter securities markets and become universal banks during two periods in the past century - the 1920s and the late 1990s. Both times, universal banks made high-risk loans and packaged them into securities that were sold as safe investments to poorly-informed investors. Both times, universal banks promoted unsustainable booms that led to destructive busts - the Great Depression of the early 1930s and the Global Financial Crisis of 2007-09. Both times, governments were forced to arrange costly bailouts of universal banks. Congress passed the Glass-Steagall Act of 1933 in response to the Great Depression. The Act broke up universal banks and established a decentralized financial system composed of three separate and independent sectors: banking, securities, and insurance. That system was stable and successful for over four decades until the big-bank lobby persuaded regulators to open loopholes in Glass-Steagall during the 1980s and convinced Congress to repeal it in 1999. Congress did not adopt a new Glass-Steagall Act after the Global Financial Crisis. Instead, Congress passed the Dodd-Frank Act. Dodd-Frank's highly technical reforms tried to make banks safer but left in place a dangerous financial system dominated by universal banks. Universal banks continue to pose unacceptable risks to financial stability and economic and social welfare. They exert far too much influence over our political and regulatory systems because of their immense size and their undeniable "too-big-to-fail" status. In Taming the Megabanks, Arthur Wilmarth argues that we must again separate banks from securities markets to avoid another devastating financial crisis and ensure that our financial system serves Main Street business firms and consumers instead of Wall Street bankers and speculators. Wilmarth's comprehensive and detailed analysis demonstrates that a new Glass-Steagall Act would make our financial system much more stable and less likely to produce boom-and-bust cycles. Giant universal banks would no longer dominate our financial system or receive enormous subsidies. A more decentralized and competitive financial system would encourage banks and securities firms to fulfill their proper roles as servants - not masters - of Main Street businesses and consumers.