The Bankers' New Clothes by Anat Admati
What's Wrong with Banking and What to Do about It

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The plain-spoken homily of Kate demystifies an important concept at the heart of banking...it adopts a shrill tone and then gallops past important and nuanced arguments that, if addressed, would have strengthened the authors’ contention that the banking system needs to hold a lot more capital than it does at the moment.
-The Economist

Synopsis

The past few years have shown that risks in banking can impose significant costs on the economy. Many claim, however, that a safer banking system would require sacrificing lending and economic growth. The Bankers' New Clothes examines this claim and the narratives used by bankers, politicians, and regulators to rationalize the lack of reform, exposing them as invalid. Anat Admati and Martin Hellwig argue that we can have a safer and healthier banking system without sacrificing any of its benefits, and at essentially no cost to society. They seek to engage the broader public in the debate by cutting through the jargon of banking, clearing the fog of confusion, and presenting the issues in simple and accessible terms.

 

About Anat Admati

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Anat Admati is the George G. C. Parker Professor of Finance and Economics at Stanford's Graduate School of Business. She serves on the FDIC Systemic Resolution Advisory Committee and has contributed to the "Financial Times", "Bloomberg News", and the "New York Times". Martin Hellwig is director at the Max Planck Institute for Research on Collective Goods. He was the first chair of the Advisory Scientific Committee of the European Systemic Risk Board and the cowinner of the 2012 Max Planck Research Award for his work on financial regulation.
 
Published March 23, 2014 by Princeton University Press. 412 pages
Genres: Business & Economics, Political & Social Sciences. Non-fiction
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Critic reviews for The Bankers' New Clothes
All: 2 | Positive: 1 | Negative: 1

WSJ online

Above average
Reviewed by John H Cochrane on Mar 01 2013

...omission, too, is a strength. A long, detailed regulatory proposal would simply distract us from the clear, central argument of "The Bankers' New Clothes"...

Read Full Review of The Bankers' New Clothes: Wha... | See more reviews from WSJ online

The Economist

Above average
on Apr 11 2013

The plain-spoken homily of Kate demystifies an important concept at the heart of banking...it adopts a shrill tone and then gallops past important and nuanced arguments that, if addressed, would have strengthened the authors’ contention that the banking system needs to hold a lot more capital than it does at the moment.

Read Full Review of The Bankers' New Clothes: Wha... | See more reviews from The Economist

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