archive

What if the regulators are as bad as the banks?

Carolyn Sissoko (USC): The Plight of Modern Markets: How Universal Banking Undermines Capital Markets. Joshua S. Hanan (Denver), Indradeep Ghosh (Haverford), and Kaleb W. Brooks (Indiana): Banking on the Present: The Ontological Rhetoric of Neo-Classical Economics and Its Relation to the 2008 Financial Crisis. Hugh Rockoff reviews Fragile by Design: The Political Origins of Banking Crises and Scarce Credit by Charles W. Calomiris and Stephen H. Haber. Steven Davidoff Solomon (UC-Berkeley) and David T. Zaring (Penn): After the Deal: Fannie, Freddie and the Financial Crisis Aftermath. James Stewart and Peter Eavis on revisiting the Lehman Brothers bailout that never was. Joel Dodge on why a hedge fund manager will tell you big government is great for capitalism — it's the insurance, stupid. Are regulators about to let another bank get too big to fail? From the forthcoming Oxford Handbook of Law and Economics, here is the entry on Banking and Financial Regulation by Steven L. Schwarcz. Thomas S. Umlauft on regulators' irrational rationality and bankers' rational irrationality: Too Big to Fail, self-regulation, moral hazard and the global financial crisis, 2007-2009. Jake Bernstein goes inside the New York Fed: A confidential report and a fired examiner’s hidden recorder penetrate the cloistered world of Wall Street’s top regulator — and its history of deference to banks. Secret Goldman Sachs tapes show regulators still respect bankers too much. Nolan McCarty on five things the Goldman tapes teach us about financial regulation. What if the regulators are as bad as the banks? Annie Lowrey wonders. Felix Salmon on why regulatory capture is here to stay. Remember this moment when the next financial crisis strikes: The SEC could have fixed our broken rating agencies — it whiffed.