| 000 | 07295cam a2200913Ii 4500 | ||
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| 001 | ocn949930490 | ||
| 003 | OCoLC | ||
| 005 | 20200827115803.0 | ||
| 006 | m o d | ||
| 007 | cr cnu---unuuu | ||
| 008 | 160519t20162016mau ob 001 0 eng d | ||
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_z9780262034371 _q(hardcover ; _qalk. paper) |
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| 020 |
_z0262034379 _q(hardcover ; _qalk. paper) |
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_a(OCoLC)949930490 _z(OCoLC)958096913 _z(OCoLC)958392640 _z(OCoLC)959032351 _z(OCoLC)959280710 _z(OCoLC)961205510 _z(OCoLC)965469993 _z(OCoLC)965730788 |
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_a10516 _bMIT Press |
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| 037 |
_a9780262332156 _bMIT Press |
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_aHB3722 _b.S385 2016eb |
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_aBUS _x039000 _2bisacsh |
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_aBUS027000 _2bisacsh |
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| 082 | 0 | 4 |
_a339.5/3 _223 |
| 049 | _aMAIN | ||
| 100 | 1 |
_aScott, Hal S., _eauthor. _0http://id.loc.gov/authorities/names/n85804292 |
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| 245 | 1 | 0 |
_aConnectedness and contagion : _bprotecting the financial system from panics / _cHal S. Scott. |
| 264 | 1 |
_aCambridge, Massachusetts : _bThe MIT Press, _c[2016] |
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| 264 | 4 | _c�2016 | |
| 300 | _a1 online resource (xxi, 416 pages) | ||
| 336 |
_atext _btxt _2rdacontent |
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| 337 |
_acomputer _bc _2rdamedia |
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| 338 |
_aonline resource _bcr _2rdacarrier |
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| 504 | _aIncludes bibliographical references and index. | ||
| 505 | 0 | _aAcknowledgments -- Introduction -- 1. The concept of connectedness -- 2. The concept and history of contagion -- 3. The concept of correlation -- 4. Asset connectedness : Lehman and AIG -- 5. Liability connectedness : money market funds and tri-party repo market -- 6. The Dodd-Frank Act policies to address connectedness -- 7. Contagion in the 2008 crisis : the run on the non-bank sector, "shadow banks" -- 8. History of lender of last resort in the United States -- 9. Dodd-Frank restrictions on the lender of last resort power -- 10. Comparison of LLR powers of fed with Bank of England, European Central Bank, and Bank of Japan -- 11. Strengthening the LLR powers of the fed -- 12. Liability insurance and guarantees -- 13. Insuring money market funds -- 14. Capital requirements : Basel III framework -- 15. Liquidity requirements -- 16. Bank resolution procedures, contingent capital (CoCos), and bail-ins -- 17. Dodd-Frank orderly liquidation for non-bank SIFIs (including bank holding companies) -- 18. Living wills -- 19. Money market mutual fund reform -- 20. Dependence of the financial system on short-term funding -- 21. Government crowding out of private issuance of short-term debt -- 22. Capital purchase program and other TARP support programs -- 23. Criticisms of bailouts generally -- 24. Specific criticism of TARP -- 25. Standing bailout programs -- 26. Conclusion -- Notes -- Index. | |
| 520 | _a"The Dodd-Frank Act of 2010 was intended to reform financial policies in order to prevent another massive crisis such as the financial meltdown of 2008. Dodd-Frank is largely premised on the diagnosis that connectedness was the major problem in that crisis -- that is, that financial institutions were overexposed to one another, resulting in a possible chain reaction of failures. In this book, Hal Scott argues that it is not connectedness but contagion that is the most significant element of systemic risk facing the financial system. Contagion is an indiscriminate run by short-term creditors of financial institutions that can render otherwise solvent institutions insolvent. It poses a serious risk because, as Scott explains, our financial system still depends on approximately $7.4 to $8.2 trillion of runnable and uninsured short-term liabilities, 60 percent of which are held by nonbanks. Scott argues that efforts by the Federal Reserve, the FDIC, and the Treasury to stop the contagion that exploded after the bankruptcy of Lehman Brothers lessened the economic damage. And yet Congress, spurred by the public's aversion to bailouts, has dramatically weakened the power of the government to respond to contagion, including limitations on the Fed's powers as a lender of last resort. Offering uniquely detailed forensic analyses of the Lehman Brothers and AIG failures, and suggesting alternative regulatory approaches, Scott makes the case that we need to restore and strengthen our weapons for fighting contagion"--Provided by publisher. | ||
| 588 | 0 | _aPrint version record. | |
| 590 |
_aeBooks on EBSCOhost _bEBSCO eBook Subscription Academic Collection - Worldwide |
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| 650 | 0 |
_aFinancial crises _xHistory _y21st century. |
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| 650 | 0 |
_aGlobal Financial Crisis, 2008-2009 _xGovernment policy. |
|
| 650 | 0 |
_aGlobal Financial Crisis, 2008-2009. _0http://id.loc.gov/authorities/subjects/sh2009003683 |
|
| 650 | 7 |
_aBUSINESS & ECONOMICS _xEconomics _xMacroeconomics. _2bisacsh |
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| 650 | 7 |
_aPOLITICAL SCIENCE _xEconomic Conditions. _2bisacsh |
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| 650 | 7 |
_aBUSINESS & ECONOMICS _xFinance. _2bisacsh |
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| 650 | 7 |
_aFinancial crises. _2fast _0(OCoLC)fst00924607 |
|
| 650 | 7 |
_aGovernment policy. _2fast _0(OCoLC)fst01353198 |
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| 650 | 7 |
_81.1 _aFinanzkrise. _0(DE-601)091359945 _0(DE-STW)19664-4 _2stw |
|
| 650 | 7 |
_81.2 _aAnsteckungseffekt. _0(DE-601)526048697 _0(DE-STW)29957-4 _2stw |
|
| 650 | 7 |
_81.3 _aFinanzmarktregulierung. _0(DE-601)091370078 _0(DE-STW)19321-6 _2stw |
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| 650 | 7 |
_81.4 _aBankrisiko. _0(DE-601)091404312 _0(DE-STW)27601-4 _2stw |
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| 650 | 7 |
_81.5 _aBankenliquidit�at. _0(DE-601)091349435 _0(DE-STW)13746-4 _2stw |
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| 650 | 7 |
_81.6 _aSchulden�ubernahme. _0(DE-601)622710060 _0(DE-STW)29637-1 _2stw |
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| 650 | 7 |
_81.7 _aUSA. _0(DE-601)091396867 _0(DE-STW)17829-1 _2stw |
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| 650 | 7 |
_81.8 _aWelt. _0(DE-601)09140004x _0(DE-STW)16809-5 _2stw |
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| 647 | 7 |
_aGlobal Financial Crisis _d(2008-2009) _2fast _0(OCoLC)fst01755654 |
|
| 648 | 7 |
_a2000-2099 _2fast |
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| 653 | _aECONOMICS/Finance | ||
| 655 | 4 | _aElectronic books. | |
| 655 | 7 |
_aHistory. _2fast _0(OCoLC)fst01411628 |
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| 776 | 0 | 8 |
_iPrint version: _aScott, Hal S. _tConnectedness and contagion. _dCambridge, Massachusetts : The MIT Press, [2016] _z9780262034371 _w(DLC) 2015039900 _w(OCoLC)934100087 |
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