基本説明
The book evaluates the crisis in historical context, explores its various legal, economic, and financial dimensions, and considers various possibilities for reform.
Full Description
The Panic of 2008 brings together scholars from a variety of disciplines to examine the causes and consequences of the global credit crisis, the subsequent collapse of the financial markets, and the following recession. The book evaluates the crisis in historical context, explores its various legal, economic, and financial dimensions, and considers various possibilities for reform. The Panic of 2008 is one of the first in-depth efforts to study the crisis as it was in the very earliest stage of resolution, and establishes a foundation for thinking about and evaluating current reform efforts and the likelihood of recurrence.
This is a thorough and detailed examination by leading scholars from law, history, finance and economics and as such will be of great interest to the scholarly communities of legal academicians, financial historians, financial economists, and economists. General readers engaged with the ramifications of the financial crisis, including practising lawyers, policymakers, and financial and business professionals, will also find the book invaluable.
Contents
Contents:
Introduction
Chronology of the Panic of 2008
PART I: HISTORICAL ANTECEDENTS
1. The Panic of 2008: Something Old and Something New
Maury Klein
2. The Anatomy of a Residential Mortgage Crisis: A Look Back to the 1930s
Kenneth A. Snowden, Jr.
PART II: CAUSES, CONSEQUENCES, AND IMPLICATIONS FOR REFORM
3. Stress Testing and Scenario Analysis in Risk Management: Preparing for the Worst
James Fanto
4. Too Big to Fail? Recasting the Financial Safety Net
Steven L. Schwarcz
5. Overdependence on Credit Ratings Was a Primary Cause of the Crisis
Frank Partnoy
6. Federal Preemption, Regulatory Failure and the Race to the Bottom in US Mortgage Lending Standards
Patricia A. McCoy
7. Lessons from 2008 US Bank Failures
William C. Handorf
8. Defaults and Returns in the High-Yield Bond Market: The Year 2008 in Review and Outlook
Edward I. Altman and Brenda J. Karlin
9. Regulating the Financial Markets by Examinations
Tamar Frankel
10. The Sewers of Jefferson County: Disclosure, Trust and Truth in Modern Finance
Theresa A. Gabaldon
11. It's Time to Resuscitate the Shareholder Derivative Action
Edward Labaton and Michael W. Stocker
12. Cuomo v. Clearing House: The Supreme Court Responds to the Subprime Financial Crisis and Delivers a Major Victory for the Dual Banking System and Consumer Protection
Arthur E. Wilmarth, Jr.
Index
