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In the fall of 2008, fifteen leading economists gathered at Squam Lake, New Hampshire, to devise a long-term plan for financial regulation reform. The resulting insights form a unified, nonpartisan strategy aimed at addressing the issues plaguing global financial markets. Unlike the ideologically driven proposals that have dominated discussions, this report presents a clear action plan designed to transform financial regulation for future generations. The authors highlight the ongoing conflict between financial institutions and society, offering transparent solutions to bridge this divide. They identify critical gaps in the current regulatory framework concerning complex financial entities, retirement savings, and credit default swaps. Innovative ideas for new financial instruments are proposed to recapitalize banks without imposing costs on taxpayers. To mitigate the risk of large bank failures, the report advocates for higher capital requirements and the establishment of a systemic regulator within the central bank. By analyzing the failures of the financial system and recommending necessary reforms, this report combines extensive academic, private sector, and public policy expertise. Its urgent recommendations aim to enhance the financial well-being of all, making it essential reading for anyone concerned about the health of the global economy.
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The Squam Lake Report, Kenneth R. French, Martin N. Baily, John Y. Campbell, John H. Cochrane, Douglas W. Diamond, Darrell Duffie, Anil K. Kashyap, Frederic Mishkin, Raghuram Govind Rajan, David S. Scharfstein, Robert J. Shiller, Hyun Song Shin, Matthew J. Slaughter, Jeremy C. Stein, René M. Stulz
- Sprache
- Erscheinungsdatum
- 2010
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- Titel
- The Squam Lake Report
- Untertitel
- Fixing the Financial System
- Sprache
- Englisch
- Autor*innen
- Kenneth R. French, Martin N. Baily, John Y. Campbell, John H. Cochrane, Douglas W. Diamond, Darrell Duffie, Anil K. Kashyap, Frederic Mishkin, Raghuram Govind Rajan, David S. Scharfstein, Robert J. Shiller, Hyun Song Shin, Matthew J. Slaughter, Jeremy C. Stein, René M. Stulz
- Erscheinungsdatum
- 2010
- Einband
- Hardcover
- Seitenzahl
- 168
- ISBN10
- 0691148848
- ISBN13
- 9780691148847
- Reihe
- Schlagwörter
- Sachbücher, Handel, Wirtschaft & Management, Ökonomie, Finanzen
- Beschreibung
- In the fall of 2008, fifteen leading economists gathered at Squam Lake, New Hampshire, to devise a long-term plan for financial regulation reform. The resulting insights form a unified, nonpartisan strategy aimed at addressing the issues plaguing global financial markets. Unlike the ideologically driven proposals that have dominated discussions, this report presents a clear action plan designed to transform financial regulation for future generations. The authors highlight the ongoing conflict between financial institutions and society, offering transparent solutions to bridge this divide. They identify critical gaps in the current regulatory framework concerning complex financial entities, retirement savings, and credit default swaps. Innovative ideas for new financial instruments are proposed to recapitalize banks without imposing costs on taxpayers. To mitigate the risk of large bank failures, the report advocates for higher capital requirements and the establishment of a systemic regulator within the central bank. By analyzing the failures of the financial system and recommending necessary reforms, this report combines extensive academic, private sector, and public policy expertise. Its urgent recommendations aim to enhance the financial well-being of all, making it essential reading for anyone concerned about the health of the global economy.