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Connectedness and Contagion: Protecting the Financial System from Panics by Hal S. Scott (Hardcover, 2016)

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An argument that contagion is the most significant risk facing the financial system and that Dodd-Frank has reduced the government's ability to respond effectively.The Dodd-Frank Act of 2010 was intended to reform financial policies in order to prevent another massive crisis such as the financial meltdown of 2008. Dodd-Frank is largely premised on the diagnosis that connectedness was the major problem in that crisis-that is, that financial institutions were overexposed to one another, resulting in a possible chain reaction of failures. In this book, Hal Scott argues that it is not connectedness but contagion that is the most significant element of systemic risk facing the financial system. Contagion is an indiscriminate run by short-term creditors of financial institutions that can render otherwise solvent institutions insolvent. It poses a serious risk because, as Scott explains, our financial system still depends on approximately $7.4 to $8.2 trillion of runnable and uninsured short-term liabilities, 60 percent of which are held by nonbanks. Scott argues that efforts by the Federal Reserve, the FDIC, and the Treasury to stop the contagion that exploded after the bankruptcy of Lehman Brothers lessened the economic damage. And yet Congress, spurred by the public's aversion to bailouts, has dramatically weakened the power of the government to respond to contagion, including limitations on the Fed's powers as a lender of last resort. Offering uniquely detailed forensic analyses of the Lehman Brothers and AIG failures, and suggesting alternative regulatory approaches, Scott makes the case that we need to restore and strengthen our weapons for fighting contagion.

Product Identifiers

Publisher
MIT Press LTD
ISBN-13
9780262034371
eBay Product ID (ePID)
221367538

Product Key Features

Author
Hal S. Scott
Publication Name
Connectedness and Contagion: Protecting the Financial System from Panics
Format
Hardcover
Language
English
Subject
Finance
Publication Year
2016
Type
Textbook
Number of Pages
440 Pages

Dimensions

Item Height
229mm
Item Width
152mm

Additional Product Features

Title_Author
Hal S. Scott
Series Title
The Mit Press
Country/Region of Manufacture
United States

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Connectedness and Contagion: Protecting the Financial System from Panics by Hal S. Scott (Hardcover, 2016)

Best-selling in Adult Learning & University

Secrets Of Mental Math: The Mathemagician's Guide to Lightening Calculation and Amazing Maths Tricks by Arthur Benjamin, Michael Shermer (Paperback, 2006)

Never Split the Difference: Negotiating as if Your Life Depended on It by Chris Voss, Tahl Raz (Paperback, 2017)

Die with Zero: Getting All You Can from Your Money and Your Life by Bill Perkins (Paperback, 2021)

Adult Children of Emotionally Immature Parents: How to Heal from Distant, Rejecting, or Self-Involved Parents by Lindsay C Gibson (Paperback, 2015)

Code of Practice for In-service Inspection and Testing of Electrical Equipment by The Institution of Engineering and Technology (Paperback, 2020)

Clean & Green: 101 Hints and Tips for a More Eco-Friendly Home by Nancy Birtwhistle (Hardcover, 2021)

11+: Bond 11+ Assessment Papers Book 2 9-10 years bundle by Various (Paperback, 2021)

Save on Adult Learning & University

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The Concise Laws of Human Nature by Robert Greene Paperback, English

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