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.
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...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 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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