Crisis: Cause, Containment and Cure (Repost)
Crisis: Cause, Containment and Cure
Publisher: Palgrave Macmillan | 2010 | ISBN: 0230236189 | English | True PDF | 232 pages | 1.42 Mb
Publisher: Palgrave Macmillan | 2010 | ISBN: 0230236189 | English | True PDF | 232 pages | 1.42 Mb
The current crisis is emerging as the most severe downturn since the Great Depression. This book examines its cause, the efforts to contain the crisis and proposes a cure that will limit the risk that such crises could recur in the future.
During the crisis that started in August 2007 and persisted into 2009, asset values also plummeted. For the first time in a generation, housing prices fell. Stock prices crashed. Bond prices declined sharply. Overall, the fall in household assets in the United States alone amounted to over $12 trillion.1 Savings have been ravaged, and pensions are at risk. Unemployment rose and will continue to rise. By June 2009 over 20 million people had lost their jobs as a result of the crisis. They have not all been bankers. Auto assembly workers, barkeepers, carpenters, delivery boys, editors, farmers …
About the Author
THOMAS F. HUERTAS is Director, Banking Sector for the Financial Services Authority, UK. Previously, he worked for Citigroup for nearly 30 years in various roles, including senior policy and business positions. He has written extensively on the current crisis, credit derivatives, insurance and retail banking.
Thomas F. Huertas is Alternate Chair, European Banking Authority and Member, Executive Committee at the UK Financial Services Authority. He is also a member of the Basel Committee, the international organisation responsible for developing and harmonising banking regulation globally. Prior to joining the FSA in 2004, Tom was a banker. He held a number of senior management positions at Citibank/Citigroup. He holds a Ph.D. in Economics from the Universiy of Chicago.
Crisis: Cause, Containment and Cure (Repost)
