Slapped by the Invisible Hand: The Panic of 2007 - Couverture rigide

Gorton, Gary B.

Couverture rigide

ISBN 10 : 0199734151 ISBN 13 : 9780199734153

Editeur : Oxford University Press Inc, 2010

Synopsis

Originally written for a conference of the Federal Reserve, Gary Gorton's "The Panic of 2007" garnered enormous attention and is considered by many to be the most convincing take on the recent economic meltdown. Now, in Slapped by the Invisible Hand, Gorton builds upon this seminal work, explaining how the securitized banking system, the nexus of financial markets and instruments unknown to most people, stands at the heart of the financial crisis. The securitized banking system is, in fact, a real banking system, allowing institutional investors and firms to make large, short-term deposits. But, as any banking system, it was vulnerable to a panic. Indeed the events starting in August 2007 can best be understood as a panic-a wholesale panic, rather than a retail panic-involving financial firms "running" on other financial firms, resulting in the system becoming insolvent. As the financial crisis unfolded, Gorton was working inside an institution that played a central role in the collapse; thus this book presents the unparalleled perspective of a top scholar who was also a central insider.

A propos du livre

À propos de l?auteur

Gary B. Gorton is Professor of Finance for the Yale School of Management, previously taught at Wharton for 24 years, and worked in the Federal Reserve System. He is also a former consultant to AIG Financial Products.

Détails de l'édition

• Éditeur: Oxford University Press Inc
• Date d'édition: 2010
• Langue: anglais
• ISBN 10: 0199734151
• ISBN 13: 9780199734153
• Reliure: Relié
• Nombre de pages: 232
• Coordonnées du fabricant: non disponible
• Personne responsable: Ufficio Anagrafiche Messaggerie; ufficio.anagrafiche@meli.it; ; Via Verdi, 8; Assago Milano; 20090; Italie