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Casino Capitalism: How the Financial Crisis Came about and What Needs to Be Done Now
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. Sinn argues that the crisis came about because limited liability induced both Wall Street and Main Street to gamble with real estate properties. He meticulously describes the p...more
Paperback, 374 pages
Published October 12th 2012 by Oxford University Press, USA
(first published May 15th 2009)
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A book taking a look at some of the under appreciated risks in the financial sector in recent years as one can surmise from the title. There was a time not so long ago when people thought the old boom bust cycle with recessions, bubbles, and panics were a thing of the past because the risks were being spread across such a fast market. I am just starting this book but I would suspect this sort of over confidence is exactly what led to the risks that nearly collapsed the world financial system.
Hans-Werner Sinn is a German economist and President of the Ifo Institute for Economic Research.More about Hans-Werner Sinn...