Financial Institutions and Markets: The Financial Crisis: An Early Retrospective

Coverpage......Page 1
Title......Page 4
Copyright......Page 5
Contents......Page 6
List of Figures......Page 8
List of Tables......Page 10
About the Contributors......Page 12
Part I Financial Crises across Countries......Page 18
1 Banking from Riches to Rags: Ignoring the Supervisory Red Flags and Thwarting Prompt Corrective Action......Page 20
2 Too Much Right Can Make a Wrong: Setting the Stage for the US Financial Crisis......Page 54
3 The U.K. Banking Crisis......Page 88
4 The Sub-Prime Crisis, the Credit Crunch, and Bank “Failure”: An Assessment of the U.K. Authorities’ Response......Page 110
5 Financial Crisis and Regulation: The Case of Spain......Page 144
6 Basel II Has Been a Costly Distraction on the Road to Minimizing the Societal Cost of Bank Failures and Financial Crises......Page 164
7 Fannie Mae and Freddie Mac: Creatures of Regulatory Privilege......Page 174
Part II Other Issues in Financial Regulation......Page 202
8 Uncertainty and Transparency of Monetary Policy......Page 204
9 Privatization and Governance Regulation in Frontier Emerging Markets: The Case of Romania......Page 222
10 Universal Access, Cost Recovery, and Payment Services......Page 242
11 Estimating the Volume of Counterfeit U.S. Currency in Circulation Worldwide: Data and Extrapolation......Page 258