{"product_id":"regulating-wall-street-9780470768778","title":"Regulating Wall Street","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003e\u003cb\u003eExperts from NYU Stern School of Business analyze new financial regulations and what they mean for the economy\u003c\/b\u003e  \u003cp\u003eThe NYU Stern School of Business is one of the top business schools in the world thanks to the leading academics, researchers, and provocative thinkers who call it home. In \u003ci\u003eRegulating Wall Street: The New Architecture of Global Finance\u003c\/i\u003e, an impressive group of the Stern school's top authorities on finance combine their expertise in capital markets, risk management, banking, and derivatives to assess the strengths and weaknesses of new regulations in response to the recent global financial crisis.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eSummarizes key issues that regulatory reform should address\u003c\/li\u003e \u003cli\u003eEvaluates the key components of regulatory reform\u003c\/li\u003e \u003cli\u003eProvides analysis of how the reforms will affect financial firms and markets, as well as the real economy\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eThe U.S. Congress is on track to complete the most significant changes in financial regulation since the 1930\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTrade Review\u003c\/b\u003e\u003cbr\u003e\"A fascinating, lively, and thoroughly readable guide to the Dodd-Frank Act that pierces the cloud of confusion that hangs over so much of the financial reform debate. It is extremely timely and valuable, and should be required reading for all policymakers, investors, and students of finance. What makes the book so valuable is that it not only analyzes the scope of the Act, in a punchy, lively style, but it also discusses its potential impact. More important, the book analyzes what is not covered in the Act—and where the potential challenges to the financial system still lie.\"\u003cbr\u003e —\u003cb\u003eGillian Tett\u003c\/b\u003e, \u003ci\u003eU.S. Managing Editor, Financial Times\u003c\/i\u003e  \u003c\/p\u003e\u003cp\u003e\"The crisis of 2008 confronted even well-educated Americans with a flood of incomprehensible financial vocabulary, describing novel financial institutions and practices most of us had never heard of before. Now we have the 2,300-page Dodd-Frank Act, designed to provide the needed repair. Will it do so? What else will it do? How can we even start to think about these basic questions? Regulating Wall Street addresses these questions in a clear, direct style, taking us through the many parts of the Act one at a time, and providing informed, cogent economic analysis of each. A valuable standard source for future discussion.\"\u003cbr\u003e —\u003cb\u003eRobert E. Lucas\u003c\/b\u003e, \u003ci\u003eUniversity of Chicago, 1995 Nobel Laureate\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\"Take the faculty of one of the best finance departments in the world. Ask them to analyze the new U.S. legislation on financial regulation, and to think about what the new law gets right, what it gets wrong, and how it is likely to shape the future of the financial system. With a bit of luck, you get this very impressive book. An absolute must-read.\"\u003cbr\u003e —\u003cb\u003eOlivier Blanchard\u003c\/b\u003e, \u003ci\u003eChief Economist, International Monetary Fund\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\"Regulating Wall Street goes a long way toward clarifying the intent of the various provisions of the Dodd-Frank Act and evaluating both its effectiveness and limitations. The need for effective implementation by agencies is appropriately emphasized. Not a quick read, a useful reference work on an enormously complex piece of legislation, dealing with an even more complex financial reality.\"\u003cbr\u003e —\u003cb\u003ePaul Volcker\u003c\/b\u003e, \u003ci\u003eChairman of the Economic Recovery Advisory Board and former Chairman of the Federal Reserve (1979–1987)\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e“There are many villains in the story of the recent crisis and much written to name them, describe them and even curse them. . .  If you want to know how to fix the problem, I highly recommend ‘Regulating Wall Street,’ from New York University’s Stern School of Business. . .  In the excellent book, ‘Regulating Wall Street,’ several of the studies indicate that there are few synergies among financial activities that could lead to economies of scope. The studies also demonstrate that multiple functions in large, complex firms can actually increase systemic risk. Moreover, they suggest that the spun-off activities could thrive without explicit or implied government support.  The conclusion in this book is that separating activities in this manner, together with stronger resolution processes and better capital standards, would do much to strengthen our financial system, making it more accountable and stronger.”\u003cbr\u003e —\u003ci\u003e\u003cb\u003eThomas M. Hoenig,\u003c\/b\u003e President, Federal Reserve Bank of Kansas City\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\"Readers should read \u003ci\u003eRegulating Wall Street\u003c\/i\u003e to understand why, in the face of market failures and copious evidence that Wall Street is unproductive, Congress and regulators labored mightily to resurrect the financial intermediation racket just as it existed on September 12, 2008.\" \u003ci\u003e\u003cb\u003e(Tax Notes)\u003c\/b\u003e\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e“If you want to know how to fix the problem, I highly recommend \u003ci\u003eRegulating Wall Street\u003c\/i\u003e, from New York University’s Stern School of Business.”\u003cbr\u003e —\u003ci\u003e\u003cb\u003eKarl Denninger,\u003c\/b\u003e Seeking Alpha\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e“One refreshing sign of hope for constructive change is that economists, some of whose theories had much to do with a light regulatory approach toward derivatives and the housing bubble, are increasingly producing research calling for stricter guidelines then Dodd-Frank or the Obama administration. \u003ci\u003eRegulating Wall Street\u003c\/i\u003e presents a wide range of new research supporting stronger regulations than Dodd-Frank recommends, such as . . . tax proposals. . . In the prologue of \u003ci\u003eRegulating Wall\u003c\/i\u003e \u003ci\u003eStreet\u003c\/i\u003e, the editors, hardly known as progressives, remind financiers how useful strong regulations were in the past. . . We would be better off if the powers on Wall Street would remember. . . “\u003cbr\u003e \u003ci\u003e\u003cb\u003e(New York Review)\u003c\/b\u003e\u003c\/i\u003e\u003c\/p\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003e\u003cp\u003eForeword xi\u003c\/p\u003e \u003cp\u003ePreface xvii\u003c\/p\u003e \u003cp\u003ePrologue: A Bird’s-Eye View\u003c\/p\u003e \u003cp\u003eThe Dodd-Frank Wall Street Reform and Consumer Protection Act 1 \u003cbr\u003e\u003ci\u003eViral V. Acharya, Thomas Cooley, Matthew Richardson, Richard Sylla, and Ingo Walter\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART ONE Financial Architecture 33\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 1 The Architecture of Financial Regulation 35 \u003ci\u003eThomas Cooley and Ingo Walter\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 2 The Power of Central Banks and the Futureof the Federal Reserve System 51\u003cbr\u003e\u003ci\u003eThomas Cooley, Kermit Schoenholtz, George David Smith, Richard Sylla, and Paul Wachtel\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 3 Consumer Finance Protection 73\u003cbr\u003e \u003ci\u003eThomas Cooley, Xavier Gabaix, Samuel Lee, Thomas Mertens, Vicki Morwitz, Shelle Santana, Anjolein Schmeits, Stijn Van Nieuwerburgh, and Robert Whitelaw\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART TWO Systemic Risk 85\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 4 Measuring Systemic Risk 87\u003cbr\u003e \u003ci\u003eViral V. Acharya, Christian Brownlees, Robert Engle,Farhang Farazmand, and Matthew Richardson\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 5 Taxing Systemic Risk 121 \u003cbr\u003e\u003ci\u003eViral V. Acharya, Lasse Pedersen, Thomas Philippon,and Matthew Richardson\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 6 Capital, Contingent Capital, and Liquidity Requirements 143\u003cbr\u003e \u003ci\u003eViral V. Acharya, Nirupama Kulkarni, and Matthew Richardson\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 7 Large Banks and the Volcker Rule 181 \u003cbr\u003e\u003ci\u003eMatthew Richardson, Roy C. Smith, and Ingo Walter\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 8 Resolution Authority 213\u003cbr\u003e \u003ci\u003eViral V. Acharya, Barry Adler, Matthew Richardson,and Nouriel Roubini\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 9 Systemic Risk and the Regulation of Insurance Companies 241\u003cbr\u003e \u003ci\u003eViral V. Acharya, John Biggs, Hanh Le, Matthew Richardson, and Stephen Ryan\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART THREE Shadow Banking 303\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 10 Money Market Funds: How to Avoid Breaking the Buck 305 \u003cbr\u003e\u003ci\u003eMarcin Kacperczyk and Philipp Schnabl\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 11 The Repurchase Agreement (Repo) Market 319\u003cbr\u003e \u003ci\u003eViral V. Acharya and T. Sabri O¨ ncu¨\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 12 Hedge Funds, Mutual Funds, and ETFs 351\u003cbr\u003e \u003ci\u003eStephen Brown, Anthony Lynch, and Antti Petajisto\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 13 Regulating OTC Derivatives 367\u003cbr\u003e \u003ci\u003eViral V. Acharya, Or Shachar, and Marti Subrahmanyam\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART FOUR Credit Markets 427\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 14 The Government-Sponsored Enterprises 429\u003cbr\u003e \u003ci\u003eViral V. Acharya, T. Sabri O¨ ncu¨ , Matthew Richardson, Stijn Van Nieuwerburgh, and Lawrence J. White\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 15 Regulation of Rating Agencies 443\u003cbr\u003e \u003ci\u003eEdward I. Altman, T. Sabri O¨ ncu¨ , Matthew Richardson, Anjolein Schmeits, and Lawrence J. White\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 16 Securitization Reform 469\u003cbr\u003e \u003ci\u003eMatthew Richardson, Joshua Ronen, and Marti Subrahmanyam\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART FIVE Corporate Control 491\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 17 Reforming Compensation and Corporate Governance 493\u003cbr\u003e \u003ci\u003eJennifer Carpenter, Thomas Cooley, and Ingo Walter\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 18 Accounting and Financial Reform 511 \u003cbr\u003e\u003ci\u003eJoshua Ronen and Stephen Ryan\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eEpilogue 527\u003c\/p\u003e \u003cp\u003eAbout the Authors 531\u003c\/p\u003e \u003cp\u003eAbout the Blog 535\u003c\/p\u003e \u003cp\u003eIndex 537\u003c\/p\u003e \u003cp\u003e \u003c\/p\u003e","brand":"John Wiley \u0026 Sons Inc","offers":[{"title":"Default Title","offer_id":48864639484247,"sku":"9780470768778","price":34.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0817\/1739\/5799\/files\/9780470768778.jpg?v=1722272845","url":"https:\/\/bookcurl.com\/products\/regulating-wall-street-9780470768778","provider":"Book Curl","version":"1.0","type":"link"}