Description

What caused the Financial Crisis of 2008? While government mandates and private sector mistakes did contribute to the crisis and can be blamed at least in part for what happened, this book takes a different approach. Russ Roberts argues that the true underlying cause of the mess was the past bailouts of large financial institutions that allowed these institutions to gamble carelessly because they were effectively using other people's money.

The author warns that despite the passage of Dodd-Frank, it is widely believed that we have done nothing to eliminate 'Too Big to Fail.' That perception allows the largest financial institutions to continue to gamble with taxpayer money.

Gambling with Other People’s Money: How Perverse Incentives Caused the Financial Crisis

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Paperback / softback by Russ Roberts

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What caused the Financial Crisis of 2008? While government mandates and private sector mistakes did contribute to the crisis and... Read more

    Publisher: Hoover Institution Press,U.S.
    Publication Date: 30/01/2019
    ISBN13: 9780817921859, 978-0817921859
    ISBN10: 0817921850

    Number of Pages: 112

    Non Fiction , Business, Finance & Law

    Description

    What caused the Financial Crisis of 2008? While government mandates and private sector mistakes did contribute to the crisis and can be blamed at least in part for what happened, this book takes a different approach. Russ Roberts argues that the true underlying cause of the mess was the past bailouts of large financial institutions that allowed these institutions to gamble carelessly because they were effectively using other people's money.

    The author warns that despite the passage of Dodd-Frank, it is widely believed that we have done nothing to eliminate 'Too Big to Fail.' That perception allows the largest financial institutions to continue to gamble with taxpayer money.

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