The First Credit Market Turmoil of the 21st Century

Download or read book The First Credit Market Turmoil of the 21st Century written by Douglas Darrell Evanoff and published by World Scientific. This book was released on 2009 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: I. Special addresses. Central banks and the financial turmoil / José Manuel González-Páramo. The implications of the credit crisis for public policy / Charles H. Dallara. Where are our leaders? / Kenneth W. Dam. Trust and financial markets / Paola Sapienza -- What happened, where? A view of the U.S. subprime crisis . Robert DiClemente and Kermit Schoenholtz. What has happened in Europe? Monetary policy, lending cycles, banking competition, risk-taking,and regulation / Jesús Saurina. The subprime crisis effects in the rest of the world / Laura E. Kodres -- III. How serious is the damage? Bank failures : the limitations of risk modeling / Patrick Honohan. Comments : how serious is the damage? / Christopher Kent -- IV. Why did it go undetected/underestimated for so long? Cliff risk and the credit crisis / Joseph R. Mason. The credit crunch of 2007 : what went wrong? why? What lessons can be learned? / John C. Hull. Overdependence on credit ratings was a primary cause of the crisis / Frank Partnoy -- V. Experience with crisis management. Liquidity management under market turmoil : experience of the European Central Bank in the first year of the 2007-2008 financial market crisis / Nuno Cassola, Cornelia Holthausen and Flemming Würtz. Crisis management and financial stability : some lessons from the United Kingdom / Nigel Jenkinson -- VI. Implications for Basel II and bank capital regulation. Risk management failures during the financial crisis / Michel Crouchy. A supervisor's view of the current financial turmoil / Cathy Lemieux and Steven VanBever. The subprime crisis : lessons about market discipline / Mark J. Flannery. Comments : implications for bank capital standards/regulation / Robert E. Litan -- VII. Implications for regulation of financial markets and instruments. Implications of the crisis for regulation / Mark Carey. The seven deadly frictions of subprime mortgage credit securitization / Adam B. Ashcraft and Til Schuermann -- VIII. Policy panel : where to from here? Where to from here? : lessons for research, policy and the industry / Philipp Hartmann. Tarp version 1 : a turning point in crisis management / Richard J. Herring. Financial crises : seeing patterns, limiting risks / Henry Kaufman.Addressing the credit market turmoil of 2007-08 / Sam Peltzman. Where to from here? / Lawrence R. Uhlick.