Too Big to Fail - The Hazards of Bank Bailouts

Informationen zum Autor By Gary H. Stern and Ron J. Feldman - Foreword by Paul A. Volcker Klappentext "The potential failure of a large bank presents vexing questions for policymakers. It poses significant risks to other financial institutions, to the financial system as a whole, and possibly to the economic and social order. Because of such fears, policymakers in many countries-developed and less developed, democratic and autocratic-respond by protecting bank creditors from all or some of the losses they otherwise would face. Failing banks are labeled ""too big to fail"" (or TBTF). This important new book examines the issues surrounding TBTF, explaining why it is a problem and discussing ways of dealing with it more effectively.Gary Stern and Ron Feldman, officers with the Federal Reserve, warn that not enough has been done to reduce creditors' expectations of TBTF protection. Many of the existing pledges and policies meant to convince creditors that they will bear market losses when large banks fail are not credible, resulting in significant net costs to the economy. The authors recommend that policymakers enact a series of reforms to reduce expectations of bailouts when large banks fail." Zusammenfassung The potential failure of a large bank presents vexing questions for policymakers. It poses significant risks to other financial institutions! to the financial system as a whole! and possibly to the economic and social order.

Product details

• Authors: Ron J. Feldman, Feldman Ron J., Gary H. Stern, Gary/ Feldman Stern, Stern Gary H.
• Assisted by: Volcker Paul A. (Foreword)
• Publisher: Brookings Institution Press
• Languages: English
• Product format: Paperback / Softback
• Released: 27.03.2009
• EAN: 9780815703044
• ISBN: 978-0-8157-0304-4
• No. of pages: 240
• Dimensions: 151 mm x 228 mm x 17 mm
• Subjects: Social sciences, law, business > Business > General, dictionaries; Business & Economics / General, BUSINESS & ECONOMICS / Banks & Banking, Banking, POLITICAL SCIENCE / Public Policy / Economic Policy, Business & management, Political Economy, Central / national / federal government policies, Central government policies