Restoring Financial Stability: How to Repair a Failed System

An insightful look at how to reform our broken financial system

The financial crisis that unfolded in September 2008 transformed the United States and world economies. As each day's headlines brought stories of bank failures and rescues, government policies drawn and redrawn against the backdrop of an historic Presidential election, and solutions that seemed to be discarded almost as soon as they were proposed, a group of thirty-three academics at New York University Stern School of Business began tackling the hard questions behind the headlines. Representing fields of finance, economics, and accounting, these professors-led by Dean Thomas Cooley and Vice Dean Ingo Walter-shaped eighteen independent policy papers that proposed market-focused solutions to the problems within a common framework. In December, with great urgency, they sent hand-bound copies to Washington. Restoring Financial Stability is the culmination of their work.

* Proposes bold, yet principled approaches-including financial policy alternatives and specific courses of action-to deal with this unprecedented, systemic financial crisis
* Created by the contributions of various academics from New York University's Stern School of Business
* Provides important perspectives on both the causes of the global financial crisis as well as proposed solutions to ensure it doesn't happen again
* Contains detailed evaluations and analyses covering many spectrums of the marketplace

Edited by Matthew Richardson and Viral Acharya, this reliable resource brings together the best thinking of finance and economics from the faculty of one of the top universities in world. |||This book is sold in the US by Sony Electronics Inc. |||This book is sold in Canada by Sony Electronics Inc.

"In conclusion, this book should be read by every serious observer of the crisis. It is an outstanding contribution." (Lombard Street)"...ably tackles complex issues and covers a wide spectrum of the current debate, including the multiplicity of regulators, the need for international regulatory coordination, transparency, fair value accounting, compensation reform, and the extent to which monetary policy should address systemic asset bubbles." (The Investment Professional)"...the book that best combines history, analysis and prescription is "Restoring Financial Stability", a series of essays by academics at New York University's Stern School of Business. The 60-page prologue is packed with telling facts and sophisticated analysis, and alone is worth the steep cover price. The individual chapters deal methodically with the myriad issues raised by the crunch, and the policy changes that will be needed, covering everything from the American mortgage market to the need for international cooperation in regulating finance." (The Economist)

• Published by

  Wiley

• Publish Date

  March 22, 2009 

• Print ISBN

  0470499346

• eBook ISBN

  9780470501085

• Imprint

  Wiley

• Filesize

  3.26 MB

• Number of Print Pages*

  416

* Number of eBook pages may differ. Click here for more information.