„In conclusion, this book should be read by every serious observerof the crisis. It is an outstanding contribution.“ (LombardStreet)
„... ably tackles complex issues and covers a wide spectrumof the current debate, including the multiplicity of regulators, the need for international regulatory coordination, transparency, fair value accounting, compensation reform, and the extent to whichmonetary policy should address systemic asset bubbles.“ (TheInvestment Professional)
„... the book that best combines history, analysis andprescription is “Restoring Financial Stability", aseries of essays by academics at New York University's SternSchool of Business. The 60-page prologue is packed with tellingfacts and sophisticated analysis, and alone is worth the steepcover price. The individual chapters deal methodically with themyriad issues raised by the crunch, and the policy changes thatwill be needed, covering everything from the American mortgagemarket to the need for international cooperation in regulatingfinance.„ (The Economist)
“We are always better analysts with a 20/20 hindsight. Indeed, an ex post reading about events leading up to a crisis appearslogical, and often leaves one with the question about why theevolution of the crisis could not be seen and corrected in time. Still, policy-makers know that such a review and understanding areimportant to learning from mistakes. Restoring FinancialStability (Wiley) acts as a catalyst to that understanding byoffering a comprehensive sequencing of the causes and progressionof the build-up of the financial strains that . . evolved into afull-blown global financial crisis. . . highly recommendedeven though bankers will remain bankers and will probably figureout ways to beat the new system.„ (Business Standard)“This an excellent book. It is the first academic book to considerthe crisis in depth and to propose policy responses and solutions.. . broad and deep overview of the crisis [that makes] suggestionsfor how to minimize the chances of a recurrence going forward. . . essential institutional detail and makes sensible and oftenoriginal suggestions for reform. One of the remarkable aspects ofthe book is the speed with which it was produced. . . This bookshould be read by every serious observer of the crisis. It is anoutstanding contribution.„
--Franklin Allen., Nippon Life Professor of Finance, Wharton School of the University of Pennsylvania in FinReg21. com
“The best available on this extraordinary and fascinatingsubject. . . brilliant idea, superbly executed, and has first-classcontent. Buy it."
--VoxEu. org
Restoring Financial Stability
How to Repair a Failed System
herausgegeben von Viral Acharya und Matthew P. RichardsonThe financial crisis that unfolded in September 2008 transformedthe United States and world economies. As each day's headlinesbrought stories of bank failures and rescues, government policiesdrawn and redrawn against the backdrop of an historic Presidentialelection, and solutions that seemed to be discarded almost as soonas they were proposed, a group of thirty-three academics at NewYork University Stern School of Business began tackling the hardquestions behind the headlines. Representing fields of finance, economics, and accounting, these professors-led by Dean ThomasCooley and Vice Dean Ingo Walter-shaped eighteen independent policypapers that proposed market-focused solutions to the problemswithin a common framework. In December, with great urgency, theysent hand-bound copies to Washington. Restoring FinancialStability is the culmination of their work.
* Proposes bold, yet principled approaches-including financialpolicy alternatives and specific courses of action-to deal withthis unprecedented, systemic financial crisis
* Created by the contributions of various academics from New YorkUniversity's Stern School of Business
* Provides important perspectives on both the causes of theglobal financial crisis as well as proposed solutions to ensure itdoesn't happen again
* Contains detailed evaluations and analyses covering manyspectrums of the marketplace
Edited by Matthew Richardson and Viral Acharya, this reliableresource brings together the best thinking of finance and economicsfrom the faculty of one of the top universities in world.
