Barth, James R., Caprio, Gerard, Levine, Ross

Guardians of Finance: Making Regulators Work for Us

Business & Money

Barth, James R.

Levine, Ross

Caprio, Gerard, Jr.

Finance

Mit Pr

How the unaccountable, unmonitorable, and unchecked actions of regulators precipitated the global financial crisis; and how to reform the system. 
The recent financial crisis was an accident, a “perfect storm” fueled by an unforeseeable confluence of events that unfortunately combined to bring down the global financial systems. Or at least this is the story told and retold by a chorus of luminaries that includes Timothy Geithner, Henry Paulson, Robert Rubin, Ben Bernanke, and Alan Greenspan. 
In Guardians of Finance, economists James Barth, Gerard Caprio, and Ross Levine argue that the financial meltdown of 2007 to 2009 was no accident; it was negligent homicide. They show that senior regulatory officials around the world knew or should have known that their policies were destabilizing the global financial system and yet chose not to act until the crisis had fully emerged.
Barth, Caprio, and Levine propose a reform to counter this systemic failure: the establishment of a “Sentinel” to provide an informed, expert, and independent assessment of financial regulation. Its sole power would be to demand information and to evaluate it from the perspective of the public―rather than that of the financial industry, the regulators, or politicians.

Caprio, Gerard

MIT Press]

This volume assembles and presents a new database on bank regulation in over 150 countries. It offers the first comprehensive cross-country assessment of the impact of bank regulation on the operation of banks, and assesses the validity of the Basel Committee's influential approach to bank regulation. The treatment also provides an empirical evaluation of the historic debate about the proper role of government in the economy by studying bank regulation and analyzes the role of politics in determining regulatory approaches to banking. The data also indicate that restrictions on the entry of new banks, government ownership of banks, and restrictions on bank activities hurt banking system performance. The authors find that domestic political factors shape both regulations and their effectiveness.

Rethinking Bank Regulation: Till Angels Govern

Economics

Cambridge University Press

This volume assembles and presents a database on bank regulation in over 150 countries (included also on CD). It offered the first comprehensive cross-country assessment of the impact of bank regulation on the operation of banks, and assesses the validity of the Basel Committee's influential approach to bank regulation. The treatment also provides an empirical evaluation of the historic debate about the proper role of government in the economy by studying bank regulation and analyzes the role of politics in determining regulatory approaches to banking. The data also indicate that restrictions on the entry of banks, government ownership of banks, and restrictions on bank activities hurt banking system performance. The authors find that domestic political factors shape both regulations and their effectiveness.

Caprio Jr., Gerard

The Great Savings and Loan Debacle (Special Analysis, 91-1)

Reference

AEI Press

The Reform of Federal Deposit Insurance: Disciplining the Government and Protecting Taxpayers

Politics & Social Sciences

Politics & Government

Harpercollins

Financial markets are among the most highly-regulated markets in the world. Nevertheless, financial crises still occur -- witness the U.S. savings-and-loan fiasco of the late 1980s and early 1990s, and the Mexican and East Asian financial implosions of 1994 and 1997. What role does regulation play in stabilizing -- or destabilizing -- financial markets? "Restructuring Regulation and Financial Institutions" answers this question with incisive analyses of financial market regulation in the United States. 
The ramifications of financial regulation in the United States extend far beyond the nation's borders. World financial markets are undergoing dramatic change, driven by the rapid development and deployment of new technology that enables information -- and money -- to travel farther, faster. However, a Byzantine array of regulatory structures in the international arena hinder the development of efficient global financial markets. Policy makers around the world are attempting to address the issues by emulating the financial markets of the United States. 
This book presents 10 papers that examine in-depth the primary aspects of U.S. financial market regulation, including: 
* Banks * Securities markets * Pension policies and mutual funds * Derivatives * Life insurance company investments * Government sponsored enterprises * Systemic risk 
Each paper considers how regulation enhances or impedes the efficiency of a particular financial sector, and is followed by comments by two or three noted experts. The result of this approach is a wealth of useful information that may be applied by policy makers contemplating the restructuring of regulations and financial institutions. 
The contributors to this volume are distinguished economists, many of whom have careers not just in business, government, or academia, but have held influential positions in all three. Such varied backgrounds enable the contributors to offer remarkable insights based on the best of theory and practice. 
Never before has understanding the workings of U.S. financial market regulation been so important to the development of world financial markets. Policy makers around the globe will find that "Restructuring Regulation and Financial Institutions" offers a cogent assessment of the contemporary regulatory environment in U.S. financial markets, and a blueprint for action in evolving global financial markets.

Restructuring Regulation and Financial Institutions

Yago, Glenn

Brumbaugh Jr., R. Dan

Milken Inst Pr

Part of a series which focuses on research into international business and finance, this volume discusses such topics as: Europe 1992 and the integration of the financial services sector; the evolution of Japanese banking; and the separation of banking and commerce; among other topics.

Research in International Business and Finance: Emerging Challenges for the International Financial Services Industry : 1992

Jai Pr

The future of American banking is in doubt and the industry and the federal insurance fund that helps support it are in turmoil. The ingredients of the turmoil have been simmering in public view since at least the early 1980s when commercial bank loans to lesser developed countries (LDCs) began to default. The difficulties began to boil at the end of the decade when the prospect first arose that the banks' deposit insurer, the Bank Insurance Fund (BIF) that is administered by the Federal Deposit Insurance Corporation (FDIC), might require dollars to resolve bank failure as occurred in the savings and loan debacle. This book frames the major economic and policy issues raised by the banking crisis whose resolution largely determines the future of American banking. It focuses on the current reported condition of the banking industry, concentrating on large banks in particular. A longer-run economic prognosis for the banking industry is presented and the implications of future bank failures for the financial services sector and federal regulatory policy are discussed. Most importantly the book contains suggestions for changes in the nation's deposit-insurance system and accompanying banking laws. These changes would reduce the federal government's deposit insurance liability and would provide banks with potentially profitable opportunities. The study includes a wealth of data on the financial condition of American banks and the system as a whole, some of it not easily obtainable from any other source. The authors are internationally recognized as knowledgeable experts on the state of the American banking system and the options and prospects for US banking reform.

The Future of American Banking (Columbia University Seminars)

Litan, Robert E.

Brumbaugh, R.Dan

Routledge

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