The Bankers' New Clothes
What's Wrong with Banking and What to Do about It - Updated Edition
in:
Economics
Summary:
The book critically examines the banking industry, highlighting the systemic risks and lack of accountability that pervade the sector. It proposes reforms to increase equity financing, reduce excessive borrowing, and enforce stronger regulations to ensure financial stability and protect the economy.
Key points:
1. High Leverage Issue: Admati and Hellwig claim banks use too much borrowed money, making them prone to failure. They recommend higher equity to stabilize banks and prevent crises.
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