Uk Banks And The Lessons Of The Great Financial Crisis
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| Author | : Financial Crisis Inquiry Commission |
| Publisher | : Cosimo, Inc. |
| Total Pages | : 692 |
| Release | : 2011-05-01 |
| Genre | : Political Science |
| ISBN | : 1616405414 |
The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.
| Author | : Federal Deposit Insurance Corporation |
| Publisher | : |
| Total Pages | : |
| Release | : 2018-03-06 |
| Genre | : |
| ISBN | : 9780966180817 |
Crisis and Response: An FDIC History, 2008¿2013 reviews the experience of the FDIC during a period in which the agency was confronted with two interconnected and overlapping crises¿first, the financial crisis in 2008 and 2009, and second, a banking crisis that began in 2008 and continued until 2013. The history examines the FDIC¿s response, contributes to an understanding of what occurred, and shares lessons from the agency¿s experience.
| Author | : Adam Barber |
| Publisher | : Springer Nature |
| Total Pages | : 350 |
| Release | : 2021-05-10 |
| Genre | : Political Science |
| ISBN | : 3030702545 |
This book demonstrates the variation in the reaction of the UK’s ‘big four’ banks – RBS, Lloyds, Barclays and HSBC – to the Great Financial Crisis 2008. Over a decade on from the financial crisis, this book asks: have banks in the UK learned lessons from the crisis? Bank learning in the UK after the Great Financial Crisis is something we need to know more about. Whether banks are now safer and more likely to aid rather than disrupt the economy are important questions of social relevance. Through a documentary analysis of Britain’s ‘big four’ banks in the post-crisis decade (2008–2018), this book demonstrates that while some institutions have become more risk averse and display positive signs of learning, others have shown little evidence of change. The book uses notions of agency, path dependency and structural competitive pressures to explain these inter-bank variations of behaviour. This book contributes to wider post-crash structural debates about growth, markets, and regulatory reform, showing how the agency of banks has played a vital role in driving the reform process.
| Author | : Mr.Stijn Claessens |
| Publisher | : International Monetary Fund |
| Total Pages | : 66 |
| Release | : 2013-01-30 |
| Genre | : Business & Economics |
| ISBN | : 1475561008 |
This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.
| Author | : Christopher Cowton |
| Publisher | : Routledge |
| Total Pages | : 286 |
| Release | : 2019-01-31 |
| Genre | : Business & Economics |
| ISBN | : 0429825889 |
The global financial crisis (GFC) that began in 2007 concentrated attention on the morality of banking and financial activities. Just as mainstream businesses became increasingly defined by their financial performance, banks, it seemed, got themselves – and everyone else – into trouble through an over-emphasis on themselves as commercial enterprises that need pay little attention to traditional banking virtues or ethics. While the GFC had many causes, criticism was legitimately levelled at banks over the ethics of mortgage creation, excessive securitisation, executive remuneration, and high-pressure customer sales tactics, amongst other things. These criticisms mirror those that have been levelled at the business more generally, particular in the last decade, although the backdrop provided by the GFC is more dramatic, and the outcomes of supposed wrongdoing more severe. This book focuses on business ethics after the GFC; not on the crisis itself, but how we should respond to it. The GFC has focused minds on the proper role of ethics in the understanding and conduct of business activity, but it is essential to look beyond the crisis to address the deeper challenges that it highlights. The aim of this volume is to present examples of the latest philosophically-informed thinking across a range of ethical issues that relate to business activity, using the banks and the GFC – the consequences of which continue to reverberate – as a point of departure. The book will be of great value to researchers, academics, practitioners, and students interested in business, ethics in general, and business ethics in particular.
| Author | : Richard Roberts |
| Publisher | : Oxford University Press, USA |
| Total Pages | : 320 |
| Release | : 2013-11 |
| Genre | : Business & Economics |
| ISBN | : 0199646546 |
A week before the outbreak of the First World War, an acute financial crisis surged over London: the Stock Exchange closed; money markets worldwide were paralysed. Drawing on diaries, letters, memoirs, press reports, and official archives, this book tells the extraordinary, and largely unknown, story of the first true global financial crisis.
| Author | : Laura Chiaramonte |
| Publisher | : Palgrave Macmillan |
| Total Pages | : 0 |
| Release | : 2018-07-19 |
| Genre | : Business & Economics |
| ISBN | : 9783319943992 |
One of the lessons learned from the Global Financial Crisis of 2007–9 is that minimum capital requirements are a necessary but inadequate safeguard for the stability of an intermediary. Despite the high levels of capitalization of many banks before the crisis, they too experienced serious difficulties due to insufficient liquidity buffers. Thus, for the first time, after the GFC regulators realized that liquidity risk can jeopardize the orderly functioning of a bank and, in some cases, its survival. Previously, the risk did not receive the same attention by regulators at the international level as other types of risk including credit, market, and operational risks. The GFC promoted liquidity risk to a significant place in regulatory reform, introducing uniform international rules and best practices. The literature has studied the potential effects of the new liquidity rules on the behaviour of banks, the financial system, and the economy as a whole. This book provides a comprehensive understanding of the bank liquidity crisis that occurred during the GFC, of the liquidity regulatory reform introduced by the Basel Committee with the Basel III Accord, and its implications both at the micro and macroeconomic levels. Università Cattolica del Sacro Cuore contributed to the funding of this research project and its publication.
| Author | : Christopher Kobrak |
| Publisher | : Routledge |
| Total Pages | : 152 |
| Release | : 2014-06-11 |
| Genre | : Business & Economics |
| ISBN | : 1317981650 |
One striking weaknesses of our financial architecture, which helped bring on and perhaps deepen the Panic of 2008, is an inadequate appreciation of the past. Information about how the system functioned and the reliability of organizations and institutional controls were drawn from a relatively narrow group of recent examples. History and Financial Crisis: Lessons from the 20th Century is an attempt to broaden the range of historical sources used by policy makers to understand and treat financial crises. Many recent discussions of the 2008 panic and the economic turmoil have found the situation to either be unprecedented or greatly similar to that of 1931. However, the book's wide range of contributors suggest that the economic crisis of 2008 cannot be categorised in this way. This book was originally published as a special issue of Business History.
| Author | : Mr.Stijn Claessens |
| Publisher | : International Monetary Fund |
| Total Pages | : 754 |
| Release | : 2014-02-19 |
| Genre | : Business & Economics |
| ISBN | : 1484355261 |
The lingering effects of the economic crisis are still visible—this shows a clear need to improve our understanding of financial crises. This book surveys a wide range of crises, including banking, balance of payments, and sovereign debt crises. It begins with an overview of the various types of crises and introduces a comprehensive database of crises. Broad lessons on crisis prevention and management, as well as the short-term economic effects of crises, recessions, and recoveries, are discussed.
| Author | : Bethany McLean |
| Publisher | : Penguin |
| Total Pages | : 503 |
| Release | : 2011-08-30 |
| Genre | : Business & Economics |
| ISBN | : 1101551054 |
Hailed as "the best business book of 2010" (Huffington Post), this New York Times bestseller about the 2008 financial crisis brings the devastation of the Great Recession to life. As soon as the financial crisis erupted, the finger-pointing began. Should the blame fall on Wall Street, Main Street, or Pennsylvania Avenue? On greedy traders, misguided regulators, sleazy subprime companies, cowardly legislators, or clueless home buyers? According to Bethany McLean and Joe Nocera, two of America's most acclaimed business journalists, many devils helped bring hell to the economy. All the Devils Are Here goes back several decades to weave the hidden history of the financial crisis in a way no previous book has done. It explores the motivations of everyone from famous CEOs, cabinet secretaries, and politicians to anonymous lenders, borrowers, analysts, and Wall Street traders. It delves into the powerful American mythology of homeownership. And it proves that the crisis ultimately wasn't about finance at all; it was about human nature. Just as McLean's The Smartest Guys in the Room was hailed as the best Enron book on a crowded shelf, so will All the Devils Are Here be remembered for finally making sense of the financial meltdown and its consequences.
