Coverart for item
The Resource Casino capitalism : how the financial crisis came about and what needs to be done now, Hans-Werner Sinn

Casino capitalism : how the financial crisis came about and what needs to be done now, Hans-Werner Sinn

Label
Casino capitalism : how the financial crisis came about and what needs to be done now
Title
Casino capitalism
Title remainder
how the financial crisis came about and what needs to be done now
Statement of responsibility
Hans-Werner Sinn
Creator
Subject
Language
  • eng
  • ger
  • eng
Summary
  • In Casino Capitalism Hans-Werner Sinn examines the causes of the banking crisis, points out the flaws in the economic rescue packages, and presents a master plan for the reform of financial markets. He argues that the crisis occurred because limited liability induced both Wall Street and Main Street to gamble with real estate properties. The process of lending to American homeowners is meticulously described, and Sinn provides a critique of the securitization process, the selling of mortgages, and the poor job rating agencies did in providing transparency. Ultimately, the American Dream ended once it became clear that it was built on improbable loans. --
  • Sinn also asserts that the banking crisis has not yet been resolved. The discrepancy between actual write-offs of toxic debts and those estimated by the IMF suggests that substantial parts of the world debt have yet to be revealed. The banking systems of many countries remain on the brink of insolvency. --
  • In view of this, he directs sharp criticism at the various rescue packages, arguing that the plans assume banks have a liquidity problem while, in fact, they suffer from a solvency crisis. Sinn identifies the inevitable conflict between the goals of rescuing banks in the short term, and inducing more prudent behaviour in the longer term, and supports governments helping banks (but not their shareholders) by becoming temporary co-owners. In addition, he calls for higher equity requirements, a worldwide return to more cautious accounting methods, and a ban on extremely speculative short selling, as well as strict regulations on conduits, hedge funds, and credit default swaps. This authoritative, accessible account will make fascinating reading for academics and the general reader alike; indeed, for anyone interested in understanding the unprecedented 2008 financial crisis. --Book Jacket
Cataloging source
UKM
http://library.link/vocab/creatorName
Sinn, Hans-Werner
Dewey number
330.90511
Illustrations
illustrations
Index
index present
LC call number
HB3722
LC item number
.S566 2010
Literary form
non fiction
Nature of contents
bibliography
http://library.link/vocab/subjectName
  • Global Financial Crisis, 2008-2009
  • Banks and banking
Label
Casino capitalism : how the financial crisis came about and what needs to be done now, Hans-Werner Sinn
Instantiates
Publication
Bibliography note
Includes bibliographical references and indexes
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
1. The world in crisis -- 2. Life on credit -- 3. Bank failures -- 4. Why Wall Street became a gambling casino -- 5. Main Street also gambled -- 6. Hot potatoes -- 7. Policy failure -- 8. The extent of the damage -- 9. Rescue attempts -- 10. Will the West retain its stability? -- 11. Ways to a better banking system
Control code
610867236
Dimensions
25 cm
Extent
xxv, 374 pages
Isbn
9780199588275
Isbn Type
(hbk.)
Lccn
2010283128
Media category
unmediated
Media MARC source
rdamedia
Media type code
  • n
Other physical details
illustrations
System control number
(OCoLC)610867236
Label
Casino capitalism : how the financial crisis came about and what needs to be done now, Hans-Werner Sinn
Publication
Bibliography note
Includes bibliographical references and indexes
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
1. The world in crisis -- 2. Life on credit -- 3. Bank failures -- 4. Why Wall Street became a gambling casino -- 5. Main Street also gambled -- 6. Hot potatoes -- 7. Policy failure -- 8. The extent of the damage -- 9. Rescue attempts -- 10. Will the West retain its stability? -- 11. Ways to a better banking system
Control code
610867236
Dimensions
25 cm
Extent
xxv, 374 pages
Isbn
9780199588275
Isbn Type
(hbk.)
Lccn
2010283128
Media category
unmediated
Media MARC source
rdamedia
Media type code
  • n
Other physical details
illustrations
System control number
(OCoLC)610867236

Library Locations

    • Ellis LibraryBorrow it
      1020 Lowry Street, Columbia, MO, 65201, US
      38.944491 -92.326012
Processing Feedback ...