Description
Book SynopsisThe book deals with contemporary issues in financial regulation, given the post-crisis regulatory landscape. The major idea put forward is that rampant corruption and fraud in the financial sector provide the main justification for financial regulation. Specific issues that are dealt with include the proposition that the Efficient Market Hypothesis was both a cause and a casualty of the global financial crisis. The book also examines the regulation of remuneration in the financial sector, credit rating agencies and shadow banking. Also considered is financial reform in Iceland and the proposal to move away from fractional reserve banking to a system of sovereign money. A macroeconomic/regulatory issue that is also considered is quantitative easing and the resulting environment of ultra-low interest rates.
Table of ContentsThe Post-Crisis Regulatory Landscape: An Overview; Regulatory Issues in the Aftermath of the Crisis; Financial Regulation as a Response to Corruption and Fraud; The War on Regulation: REH, WC, GM and All That; The Efficient Market Hypothesis as a Weapon of Mass Destruction; The Regulation of Remuneration in the Financial Sector; The Regulation of Shadow Banking; The Regulation of Credit Rating Agencies; The Regulatory Implications of Quantitative Easing; Financial Reform in Iceland; The Way Forward;
