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Author: Charles W. Calomiris Publisher: ISBN: Category : Bank failures Languages : en Pages : 46
Book Description
Bank failures during banking crises, in theory, can result either from unwarranted depositor withdrawals during events characterized by contagion or panic, or as the result of fundamental bank insolvency. Various views of contagion are described and compared to historical evidence from banking crises, with special emphasis on the U.S. experience during and prior to the Great Depression. Panics or "contagion" played a small role in bank failure, during or before the Great Depression-era distress. Ironically, the government safety net, which was designed to forestall the (overestimated) risks of contagion, seems to have become the primary source of systemic instability in banking in the current era.
Author: Charles W. Calomiris Publisher: ISBN: Category : Bank failures Languages : en Pages : 46
Book Description
Bank failures during banking crises, in theory, can result either from unwarranted depositor withdrawals during events characterized by contagion or panic, or as the result of fundamental bank insolvency. Various views of contagion are described and compared to historical evidence from banking crises, with special emphasis on the U.S. experience during and prior to the Great Depression. Panics or "contagion" played a small role in bank failure, during or before the Great Depression-era distress. Ironically, the government safety net, which was designed to forestall the (overestimated) risks of contagion, seems to have become the primary source of systemic instability in banking in the current era.
Author: Sangkyun Park Publisher: Routledge ISBN: 1136300767 Category : Business & Economics Languages : en Pages : 218
Book Description
This volume examines the vulnerability of sound banks during financial crises helps understand the nature of financial crises and other banking issues traces the history of banking reform in the United States from 1933 until 1992 discusses deregulation in the US banking system
Author: Sten Jonsson Publisher: Routledge ISBN: 0429577737 Category : Business & Economics Languages : en Pages : 196
Book Description
Starting with Medici and Fugger and ending with Barings and Royal Bank of Scotland under neo-liberal de-regulation, the author gives an account of how a number of banks failed over a 500 year-period. The author offers an explanation of the leading ideas about the world and good society at the time, and summarizes this narrative using Streeck & Schmitter’s three bases for regulation of society: Community (spontaneous solidarity), State (hierarchical control), and Market (dispersed competition). The bank failures are presented in the context of social philosophies of the day (scholasticism, mercantilism, neo-liberalism, and libertarianism), and the changing business practices (Bills of Exchange, rents and financial instruments of various kinds). The dominating explanation of financial crises has been market-related. Here, the author argues that managerial failures are an important contributor. He demonstrates the failure of management to act on early signals such as existential risk, strategic stress syndrome, and lack of proper oversight by top management. The author encourages a return to ethical principles for banks, suggesting that his ethical aspect should be at the core of the credit process of banks in the future. With its interdisciplinary approach, this book will be an important contribution to the discussion surrounding bank failures. It will interest any scholar looking at the origins of financial crises and will be particularly useful for post-graduate students of economic and financial history, banking, finance and accounting.
Author: Darrell Duffie Publisher: Princeton University Press ISBN: 1400836999 Category : Business & Economics Languages : en Pages : 108
Book Description
A leading finance expert explains how and why big banks fail—and what can be done to prevent it Dealer banks—that is, large banks that deal in securities and derivatives, such as J. P. Morgan and Goldman Sachs—are of a size and complexity that sharply distinguish them from typical commercial banks. When they fail, as we saw in the global financial crisis, they pose significant risks to our financial system and the world economy. How Big Banks Fail and What to Do about It examines how these banks collapse and how we can prevent the need to bail them out. In sharp, clinical detail, Darrell Duffie walks readers step-by-step through the mechanics of large-bank failures. He identifies where the cracks first appear when a dealer bank is weakened by severe trading losses, and demonstrates how the bank's relationships with its customers and business partners abruptly change when its solvency is threatened. As others seek to reduce their exposure to the dealer bank, the bank is forced to signal its strength by using up its slim stock of remaining liquid capital. Duffie shows how the key mechanisms in a dealer bank's collapse—such as Lehman Brothers' failure in 2008—derive from special institutional frameworks and regulations that influence the flight of short-term secured creditors, hedge-fund clients, derivatives counterparties, and most devastatingly, the loss of clearing and settlement services. How Big Banks Fail and What to Do about It reveals why today's regulatory and institutional frameworks for mitigating large-bank failures don't address the special risks to our financial system that are posed by dealer banks, and outlines the improvements in regulations and market institutions that are needed to address these systemic risks.
Author: Kirsten Grind Publisher: Simon and Schuster ISBN: 1451617933 Category : Business & Economics Languages : en Pages : 401
Book Description
Based on reporting for which the author was named a finalist for the Pulitzer Prize and the Gerald Loeb Award, this book traces the rise and spectacular fall of Washington Mutual.
Author: Charles W. Calomiris Publisher: Princeton University Press ISBN: 0691168350 Category : Business & Economics Languages : en Pages : 584
Book Description
Why stable banking systems are so rare Why are banking systems unstable in so many countries—but not in others? The United States has had twelve systemic banking crises since 1840, while Canada has had none. The banking systems of Mexico and Brazil have not only been crisis prone but have provided miniscule amounts of credit to business enterprises and households. Analyzing the political and banking history of the United Kingdom, the United States, Canada, Mexico, and Brazil through several centuries, Fragile by Design demonstrates that chronic banking crises and scarce credit are not accidents. Calomiris and Haber combine political history and economics to examine how coalitions of politicians, bankers, and other interest groups form, why they endure, and how they generate policies that determine who gets to be a banker, who has access to credit, and who pays for bank bailouts and rescues. Fragile by Design is a revealing exploration of the ways that politics inevitably intrudes into bank regulation.
Author: Gary Gorton Publisher: Oxford University Press, USA ISBN: 0190204834 Category : Business & Economics Languages : en Pages : 690
Book Description
Financial crises must be studied in the context of history. The Maze of Banking is a collection of academic papers by Gary Gorton---an expert on the financial crisis of 2007-2008---on the history and analysis of banks, banking, and financial crises spanning the past 175 years. These papers provide the framework for understanding how the financial crisis of 2007-2008 developed and what can be done to promote a stabile banking industry and prevent future economic crises.
Author: Charles W. Calomiris
Author: Charles W. Calomiris
Author: Sangkyun Park
Author: Sten Jonsson
Author: Charles Franklin Dunbar
Author: Dunbar
Author: Darrell Duffie
Author: George A. Selgin
Author: Kirsten Grind
Author: Charles W. Calomiris
Author: Gary Gorton