false 1699666 2 The potential failure of a large bank presents vexing questions for policymakers. It poses significant risks to other financial institutions, to the financial system as a whole, and possibly to the economic and social order. Because of such fears, policymakers in many countries&#151;developed and less developed, democratic and autocratic&#151;respond by protecting bank creditors from all or some of the losses they otherwise would face. Failing banks are labeled "too big to fail" (or TBTF). This important new book examines the issues surrounding TBTF, explaining why it is a problem and discussing ways of dealing with it more effectively. <P>Gary H. Stern and Ron J. Feldman, officers with the Federal Reserve, warn that not enough has been done to reduce creditors' expectations of TBTF protection. Many of the existing pledges and policies meant to convince creditors that they will bear market losses when large banks fail are not credible, resulting in significant net costs to the economy. The authors recommend that policymakers enact a series of reforms to reduce expectations of bailouts when large banks fail. 1696682 3 2004 Too Big to Fail: The Hazards of Bank Bailouts total:1|5:1| 1 5 14 1 6610727 081570304X 9780815703044 1 1 5.00 http://www.goodreads.com/book/show/6610727-too-big-to-fail 5 0 false Tue Aug 18 23:33:36 -0700 2009 Tue Aug 18 23:47:40 -0700 2009
In this clearly prophetic book, Gary H. Stern and Ron J. Feldman examine the “too big to fail” doctrine, and show how policymakers made the financial system riskier by implicitly promising to bail out the biggest banking instit...more...]]> 6610727 081570304X 9780815703044 1 1 5.00 http://www.goodreads.com/book/show/6610727-too-big-to-fail 0 0 false Thu Dec 10 05:18:49 -0800 2009 Thu Dec 10 05:18:49 -0800 2009 1699666 0815781520 9780815781523 0 0 5.00 http://photo.goodreads.com/books/1187098773m/1699666.jpg http://www.goodreads.com/book/show/1699666.Too_Big_to_Fail_The_Hazards_of_Bank_Bailouts 0 0 false Mon Nov 09 00:45:41 -0800 2009 Mon Nov 09 00:45:41 -0800 2009 1699666 0815781520 9780815781523 0 0 5.00 http://photo.goodreads.com/books/1187098773m/1699666.jpg http://www.goodreads.com/book/show/1699666.Too_Big_to_Fail_The_Hazards_of_Bank_Bailouts 0 0 false Tue Nov 03 16:37:03 -0800 2009 Tue Nov 03 16:37:08 -0800 2009 1699666 0815781520 9780815781523 0 0 5.00 http://photo.goodreads.com/books/1187098773m/1699666.jpg http://www.goodreads.com/book/show/1699666.Too_Big_to_Fail_The_Hazards_of_Bank_Bailouts 0 0 false Tue Nov 03 15:08:05 -0800 2009 Tue Nov 03 15:08:05 -0800 2009 1699666 0815781520 9780815781523 0 0 5.00 http://photo.goodreads.com/books/1187098773m/1699666.jpg http://www.goodreads.com/book/show/1699666.Too_Big_to_Fail_The_Hazards_of_Bank_Bailouts 0 0 false Sat Oct 31 10:19:34 -0700 2009 Sat Oct 31 10:19:34 -0700 2009 1699666 0815781520 9780815781523 0 0 5.00 http://photo.goodreads.com/books/1187098773m/1699666.jpg http://www.goodreads.com/book/show/1699666.Too_Big_to_Fail_The_Hazards_of_Bank_Bailouts 0 0 false Thu Oct 29 14:16:42 -0700 2009 Thu Oct 29 14:16:42 -0700 2009 1699666 0815781520 9780815781523 0 0 5.00 http://photo.goodreads.com/books/1187098773m/1699666.jpg http://www.goodreads.com/book/show/1699666.Too_Big_to_Fail_The_Hazards_of_Bank_Bailouts 0 0 false Thu Oct 29 13:15:24 -0700 2009 Thu Oct 29 13:15:24 -0700 2009 1699666 0815781520 9780815781523 0 0 5.00 http://photo.goodreads.com/books/1187098773m/1699666.jpg http://www.goodreads.com/book/show/1699666.Too_Big_to_Fail_The_Hazards_of_Bank_Bailouts 0 0 false Sun Oct 25 19:07:35 -0700 2009 Sun Oct 25 19:07:35 -0700 2009 6610727 081570304X 9780815703044 1 1 5.00 http://www.goodreads.com/book/show/6610727-too-big-to-fail 0 0 false Fri Oct 16 15:06:22 -0700 2009 Fri Oct 16 15:06:22 -0700 2009 6610727 081570304X 9780815703044 1 1 5.00 http://www.goodreads.com/book/show/6610727-too-big-to-fail 0 0 false Mon Oct 12 20:05:04 -0700 2009 Mon Oct 12 20:05:04 -0700 2009 1699666 0815781520 9780815781523 0 0 5.00 http://photo.goodreads.com/books/1187098773m/1699666.jpg http://www.goodreads.com/book/show/1699666.Too_Big_to_Fail_The_Hazards_of_Bank_Bailouts 0 0 false Thu Oct 08 03:18:40 -0700 2009 Thu Oct 08 03:19:21 -0700 2009 1699666 0815781520 9780815781523 0 0 5.00 http://photo.goodreads.com/books/1187098773m/1699666.jpg http://www.goodreads.com/book/show/1699666.Too_Big_to_Fail_The_Hazards_of_Bank_Bailouts 0 0 false Thu Jul 23 20:02:17 -0700 2009 Thu Jul 23 20:02:17 -0700 2009 1699666 0815781520 9780815781523 0 0 5.00 http://photo.goodreads.com/books/1187098773m/1699666.jpg http://www.goodreads.com/book/show/1699666.Too_Big_to_Fail_The_Hazards_of_Bank_Bailouts 0 0 false Sun Apr 19 16:15:58 -0700 2009 Sun Apr 19 16:15:58 -0700 2009 http://www.goodreads.com/book_link/follow/8?book_id=6610727