Engineering the Financial Crisis: Systemic Risk and the Failure of Regulation

by Jeffrey Friedman and Wladimir Kraus

The financial crisis has been blamed on reckless bankers, irrational exuberance, government support of mortgages for the poor, financial deregulation, and expansionary monetary policy. Specialists in banking, however, tell a story with less emotional resonance but a better correspondence to the evidence: the crisis was sparked by the international regulatory accords on bank capital levels, the Basel Accords.

In one of the first studies critically...

• Format: Hardcover
• Language: English
• ISBN: 0812243579
• ISBN13: 9780812243574
• Release Date: October 2011
• Publisher: University of Pennsylvania Press
• Length: 224 Pages
• Weight: 0.55 lbs.
• Dimensions: 0.9" x 6.1" x 9.1"