

Hero image 0 of After the Fall : Saving Capitalism from Wall Street--And Washington (Hardcover), 0 of 1
After the Fall : Saving Capitalism from Wall Street--And Washington (Hardcover)
(No ratings yet)
Key item features
• Author: Nicole Gelinas • ISBN:9781594032615 • Format:Hardcover • Publication Date:2009-11-01
Specs
- Book formatHardcover
- Fiction/nonfictionNon-Fiction
- GenreBusiness & Investing
- Pub date2009-11-01
- Pages250
- Number in series1
Current price is USD$15.02
Price when purchased online
Free 90-day returns
How do you want your item?
Try 30 days of Free Shipping with Walmart+! Choose plan at checkout.
Columbus, 43215
Arrives by Sat, Apr 11
Sold and shipped by Walmart.com
Free 90-day returns
This item is gift eligible
Other sellers
$21.29
+Free shippingShipping, arrives by Sat, Apr 11 to Columbus, 43215
Sold and shipped by Endless Reads
Free 30-day returns
Get free delivery, shipping and more*
*Restrictions apply Try Walmart+ now
About this item
Product details
Robust financial markets support capitalism, they don't imperil it. But in 2008, Washington policymakers were compelled to replace private risk-takers in the financial system with government capital so that money and credit flows wouldn't stop, precipitating a depression.
Washington's actions weren't the start of government distortions in the financial industry, Nicole Gelinas writes, but the natural result of 25 years' worth of such distortions.
In the early eighties, modern finance began to escape reasonable regulations, including the most important regulation of all, that of the marketplace. The government gradually adopted a "too big to fail" policy for the largest or most complex financial companies, saving lenders to failing firms from losses. As a result, these companies became impervious to the vital market discipline that the threat of loss provides.
Adding to the problem, Wall Street created financial instruments that escaped other reasonable limits, including gentle constraints on speculative borrowing and requirements for the disclosure of important facts.
The financial industry eventually posed an untenable risk to the economy -- a risk that culminated in the trillions of dollars' worth of government bailouts and guarantees that Washington scrambled starting in late 2008.
Even as banks and markets seem to heal, lenders to financial companies continue to understand that the government would protect them in the future if necessary. This implicit guarantee harms economic growth, because it forces good companies to compete against bad.
History and recent events make clear what Washington must do.
First, policymakers must reintroduce market discipline to the financial world. They can do so by re-creating a credible, consistent way in which big financial companies can fail, with lenders taking their warranted losses. Second, policymakers can reapply prudent financial regulations so that markets, and the economy, can better withstand inevitable excesses of optimism and pessimism. Sensible regulations have worked well in the past and can work well again.
As Gelinas explains in this richly detailed book, adequate regulation of financial firms and markets is a prerequisite for free-market capitalism -- not a barrier to it.
Robust financial markets support capitalism, they don't imperil it. But in 2008, Washington policymakers were compelled to replace private risk-takers in the financial system with government capital so that money and credit flows wouldn't stop, precipitating a depression. Washington's actions weren't the start of government distortions in the financial industry, Nicole Gelinas writes, but the natural result of 25 years' worth of such distortions. In the early eighties, modern finance began to escape reasonable regulations, including the most important regulation of all, that of the marketplace. The government gradually adopted a too big to fail policy for the largest or most complex financial companies, saving lenders to failing firms from losses. As a result, these companies became impervious to the vital market discipline that the threat of loss provides. Adding to the problem, Wall Street created financial instruments that escaped other reasonable limits, including gentle constraints on speculative borrowing and requirements for the disclosure of important facts. The financial industry eventually posed an untenable risk to the economy -- a risk that culminated in the trillions of dollars' worth of government bailouts and guarantees that Washington scrambled starting in late 2008. Even as banks and markets seem to heal, lenders to financial companies continue to understand that the government would protect them in the future if necessary. This implicit guarantee harms economic growth, because it forces good companies to compete against bad. History and recent events make clear what Washington must do. First, policymakers must reintroduce market discipline to the financial world. They can do so by re-creating a credible, consistent way in which big financial companies can fail, with lenders taking their warranted losses. Second, policymakers can reapply prudent financial regulations so that markets, and the economy, can better withstand inevitable excesses of optimism and pessimism. Sensible regulations have worked well in the past and can work well again. As Gelinas explains in this richly detailed book, adequate regulation of financial firms and markets is a prerequisite for free-market capitalism -- not a barrier to it.
Washington's actions weren't the start of government distortions in the financial industry, Nicole Gelinas writes, but the natural result of 25 years' worth of such distortions.
In the early eighties, modern finance began to escape reasonable regulations, including the most important regulation of all, that of the marketplace. The government gradually adopted a "too big to fail" policy for the largest or most complex financial companies, saving lenders to failing firms from losses. As a result, these companies became impervious to the vital market discipline that the threat of loss provides.
Adding to the problem, Wall Street created financial instruments that escaped other reasonable limits, including gentle constraints on speculative borrowing and requirements for the disclosure of important facts.
The financial industry eventually posed an untenable risk to the economy -- a risk that culminated in the trillions of dollars' worth of government bailouts and guarantees that Washington scrambled starting in late 2008.
Even as banks and markets seem to heal, lenders to financial companies continue to understand that the government would protect them in the future if necessary. This implicit guarantee harms economic growth, because it forces good companies to compete against bad.
History and recent events make clear what Washington must do.
First, policymakers must reintroduce market discipline to the financial world. They can do so by re-creating a credible, consistent way in which big financial companies can fail, with lenders taking their warranted losses. Second, policymakers can reapply prudent financial regulations so that markets, and the economy, can better withstand inevitable excesses of optimism and pessimism. Sensible regulations have worked well in the past and can work well again.
As Gelinas explains in this richly detailed book, adequate regulation of financial firms and markets is a prerequisite for free-market capitalism -- not a barrier to it.
Robust financial markets support capitalism, they don't imperil it. But in 2008, Washington policymakers were compelled to replace private risk-takers in the financial system with government capital so that money and credit flows wouldn't stop, precipitating a depression. Washington's actions weren't the start of government distortions in the financial industry, Nicole Gelinas writes, but the natural result of 25 years' worth of such distortions. In the early eighties, modern finance began to escape reasonable regulations, including the most important regulation of all, that of the marketplace. The government gradually adopted a too big to fail policy for the largest or most complex financial companies, saving lenders to failing firms from losses. As a result, these companies became impervious to the vital market discipline that the threat of loss provides. Adding to the problem, Wall Street created financial instruments that escaped other reasonable limits, including gentle constraints on speculative borrowing and requirements for the disclosure of important facts. The financial industry eventually posed an untenable risk to the economy -- a risk that culminated in the trillions of dollars' worth of government bailouts and guarantees that Washington scrambled starting in late 2008. Even as banks and markets seem to heal, lenders to financial companies continue to understand that the government would protect them in the future if necessary. This implicit guarantee harms economic growth, because it forces good companies to compete against bad. History and recent events make clear what Washington must do. First, policymakers must reintroduce market discipline to the financial world. They can do so by re-creating a credible, consistent way in which big financial companies can fail, with lenders taking their warranted losses. Second, policymakers can reapply prudent financial regulations so that markets, and the economy, can better withstand inevitable excesses of optimism and pessimism. Sensible regulations have worked well in the past and can work well again. As Gelinas explains in this richly detailed book, adequate regulation of financial firms and markets is a prerequisite for free-market capitalism -- not a barrier to it.
• Author: Nicole Gelinas • ISBN:9781594032615 • Format:Hardcover • Publication Date:2009-11-01
info:
We aim to show you accurate product information. Manufacturers, suppliers and others provide what you see here, and we have not verified it. Â
Specifications
Book format
Hardcover
Fiction/nonfiction
Non-Fiction
Genre
Business & Investing
Pub date
2009-11-01
Warranty
Warranty information
Please be aware that the warranty terms on items offered for sale by third party Marketplace sellers may differ from those displayed in this section (if any). To confirm warranty terms on an item offered for sale by a third party Marketplace seller, please use the 'Contact seller' feature on the third party Marketplace seller's information page and request the item's warranty terms prior to purchase.
Similar items you might like
Based on what customers bought
Look Again: Recognize Your Worth. Renew Your Hope. Run with Confidence (Hardcover) $12.68 Was $14.99
$1268current price $12.68, Was $14.99$14.99Look Again: Recognize Your Worth. Renew Your Hope. Run with Confidence (Hardcover)
25 out of 5 Stars. 2 reviewsWhy Me?: Why Not You?, (Paperback) $13.99
$1399current price $13.99Why Me?: Why Not You?, (Paperback)
What Is Wrong with the World?: The Surprising, Hopeful Answer to the Question We Cannot Avoid, (Hardcover) $15.28
$1528current price $15.28What Is Wrong with the World?: The Surprising, Hopeful Answer to the Question We Cannot Avoid, (Hardcover)
The New China Playbook: Beyond Socialism and Capitalism, (Hardcover) $14.78
$1478current price $14.78The New China Playbook: Beyond Socialism and Capitalism, (Hardcover)
15 out of 5 Stars. 1 reviewsBest seller Black AF History: The un-Whitewashed Story of America (Hardcover) $20.99
Best seller
$2099current price $20.99Black AF History: The un-Whitewashed Story of America (Hardcover)
1364.7 out of 5 Stars. 136 reviewsTwilight's Last Gleaming: Can America Be Saved?, (Hardcover) $14.75
$1475current price $14.75Twilight's Last Gleaming: Can America Be Saved?, (Hardcover)
34.7 out of 5 Stars. 3 reviewsThe Great Equalizer : How Main Street Capitalism Can Create an Economy for Everyone (Hardcover) $10.99 Was $15.47
$1099current price $10.99, Was $15.47$15.47The Great Equalizer : How Main Street Capitalism Can Create an Economy for Everyone (Hardcover)
Best seller The Official Stardew Valley Cookbook (Hardcover) $18.38
Best seller
2 optionsAvailable in additional 2 options$1838current price $18.38The Official Stardew Valley Cookbook (Hardcover)
684.8 out of 5 Stars. 68 reviewsThe Sisterhood: The 99ers and the Rise of U.S. Women's Soccer, (Hardcover) $29.53
$2953current price $29.53The Sisterhood: The 99ers and the Rise of U.S. Women's Soccer, (Hardcover)
Best seller 1929: Inside the Greatest Crash in Wall Street History--And How It Shattered a Nation (Hardcover) $20.59
Best seller
$2059current price $20.591929: Inside the Greatest Crash in Wall Street History--And How It Shattered a Nation (Hardcover)
434.8 out of 5 Stars. 43 reviewsEarly American Studies Capitalism by Gaslight: Illuminating the Economy of Nineteenth-Century America, (Hardcover) $28.42
$2842current price $28.42Early American Studies Capitalism by Gaslight: Illuminating the Economy of Nineteenth-Century America, (Hardcover)
Human Capitalism: How Economic Growth Has Made Us Smarter--And More Unequal, (Hardcover) $11.80
$1180current price $11.80Human Capitalism: How Economic Growth Has Made Us Smarter--And More Unequal, (Hardcover)
Ellen Browning Scripps: New Money and American Philanthropy, (Hardcover) $13.67
$1367current price $13.67Ellen Browning Scripps: New Money and American Philanthropy, (Hardcover)
World Socialist Revolution, (Hardcover) $16.99
$1699current price $16.99World Socialist Revolution, (Hardcover)
The Crisis of Democratic Capitalism, (Hardcover) $15.05
$1505current price $15.05The Crisis of Democratic Capitalism, (Hardcover)
Pre-Owned Weight Watchers Light & Easy Cookbook (Hardcover) 0848716264 9780848716264 $9.12
$912current price $9.12Pre-Owned Weight Watchers Light & Easy Cookbook (Hardcover) 0848716264 9780848716264
Pre-Owned Not Free America: What Your Government Doesn't Want You to Know (Hardcover) 1948677660 9781948677660 $4.45
2 optionsAvailable in additional 2 options$445current price $4.45Pre-Owned Not Free America: What Your Government Doesn't Want You to Know (Hardcover) 1948677660 9781948677660
Pre-Owned The Bone House (Bright Empires, 2) (Hardcover) 159554805X 9781595548054 $5.98
$598current price $5.98Pre-Owned The Bone House (Bright Empires, 2) (Hardcover) 159554805X 9781595548054
133.9 out of 5 Stars. 13 reviewsA Nation of Millionaires: Unleashing America's Economic Potential, (Hardcover) $17.70
$1770current price $17.70A Nation of Millionaires: Unleashing America's Economic Potential, (Hardcover)
Customer ratings & reviews
0 ratings|0 reviews
This item does not have any reviews yet

