All Fall Down – Debt, Deregulation and Financial Crises

Front Matter
Copyright
Contents
Tables
Foreword
Acknowledgments
Abbreviations
1. Introduction and summary
PART I The unraveling of the 1930s-era framework
2. The euro market erodes US financial structure
3. Commercial paper guarantees and the emergence of a parallel banking system
4. ERISA moves savings into securities markets
PART IIDeregulation and financial innovation create the context for crisis
5. An overview of financiar estructuring and its consequences
6. Securitization
7. Weaving the web of interconnectedness
8. Opaque markets and opaque balance sheets
9. Growing concentration leads to “too big to fail”
10. Regulating the post-crisis system
11. Mending the financial safety net for savers
PART III The advent of globalization
12. Dollar hegemony
13. Foreign exchange reserves
14. An overview of developments in global financial markets in the 1990s
PART IV Building toward crisis in the global economy
15. Concerns and warnings
16. Crises in the periphery of the global system
17. Liquidity expansion in the period before the crisis
PART V Debt and the collapse of monetary control
18. The failure to halt the emergence and growth of the debt bubble
19. Rising imbalances in credit flows
20. Mounting risks of the continuing debt bubble in the new millennium
21. How eroding monetary tools facilitated debt creation
22. Monetary tools: what they are and how they function
23. The inability of capital requirements to prevent or moderate financial crises
24. How crisis reshaped the monetary toolkit
PART VI An agenda for monetary reform
25. Introducing a systemic approach
26. Creating a system-wide asset-based reserve system
27. Implementing policy under the current and proposed systems
28. Implications of the proposed system for the conduct of policy
PART VII Reforming the privatized international monetary system
29. Can special drawing rights replace the dollar and other national currencies as a reserve asset?
30. Restructuring flows of private international investment into emerging and developing economies
31. Reforming the international payments system
PART VIII Conclusion
32. Building toward crisis in the global economy—again
Bibliography
Index