The Bankers' New Clothes : : What's Wrong with Banking and What to Do about It - Updated Edition / / Martin Hellwig, Anat Admati.

• Superior document: Title is part of eBook package: De Gruyter Princeton University Press Complete eBook-Package 2014-2015
• VerfasserIn: Admati, Anat,; Hellwig, Martin,
• TeilnehmendeR: Admati, Anat.; Hellwig, Martin.
• Place / Publishing House: Princeton, NJ : : Princeton University Press, , [2014]; ©2014
• Year of Publication: 2014
• Edition: Updated edition with a New Preface by the authors
• Language: English
• Physical Description: 1 online resource (424 p.) :; 6 line illus. 4 tables.

The past few years have shown that risks in banking can impose significant costs on the economy. Many claim, however, that a safer banking system would require sacrificing lending and economic growth. The Bankers' New Clothes examines this claim and the narratives used by bankers, politicians, and regulators to rationalize the lack of reform, exposing them as invalid. Anat Admati and Martin Hellwig argue that we can have a safer and healthier banking system without sacrificing any of its benefits, and at essentially no cost to society. They seek to engage the broader public in the debate by cutting through the jargon of banking, clearing the fog of confusion, and presenting the issues in simple and accessible terms.

Table of Contents

Frontmatter -- CONTENTS -- Preface to the Paperback Edition -- Preface -- Acknowledgments -- 1. The Emperors of Banking Have No Clothes -- PART I. Borrowing, Banking, and Risk -- 2. How Borrowing Magnifies Risk -- 3. The Dark Side of Borrowing -- 4. Is It Really "A Wonderful Life"? -- 5. Banking Dominos -- PART II. The Case for More Bank Equity -- 6. What Can Be Done? -- 7. Is Equity Expensive? -- 8. Paid to Gamble -- 9. Sweet Subsidies -- 10. Must Banks Borrow So Much? -- PART III. Moving Forward -- 11. If Not Now, When? -- 12. The Politics of Banking -- 13. Other People's Money -- Notes -- References -- Index