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Taming the megabanks : why we we need a new Glass-Steagall Act to break up financial giants and prevent another systemic crisis / [electronic resource]
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| 자료유형 | E-Book |
|---|---|
| 개인저자 | Wilmarth, Arthur E., 1951-, author. |
| 서명/저자사항 | Taming the megabanks :why we we need a new Glass-Steagall Act to break up financial giants and prevent another systemic crisis /Arthur E. Wilmarth, Jr.[electronic resource] |
| 발행사항 | New York : Oxford University Press, 2020. |
| 발행예정일자 | 2009 |
| 형태사항 | 1 online resource |
| 소장본 주기 | Added to collection customer.56279.3 |
| ISBN | 0190260726 9780190260729 |
| 서지주기 | Includes bibliographical references and index. |
| 요약 | "This book uses a chronological and narrative approach and draws on a wide range of sources. It demonstrates that universal banks - which accept deposits, make loans, and engage in securities activities - played central roles in precipitating the Great Depression of the early 1930s and the Great Recession of 2007-09. Universal banks promoted a dangerous credit boom and speculative stock market bubble in the U.S. during the 1920s, which led to the Great Depression. Congress responded by passing the Glass-Steagall Act of 1933, which separated banks from the securities markets and prohibited nonbanks from accepting deposits. Glass-Steagall's structural barriers prevented financial panics from spreading across the banking, securities, and insurance sectors for more than four decades. Regulators could address problems arising in one financial sector without needing to bail out the entire financial system. Large U.S. banks pursued a twenty-year campaign to remove Glass-Steagall's barriers. Regulators opened loopholes in Glass-Steagall during the 1980s and 1990s, and Congress repealed Glass-Steagall in 1999. The United Kingdom and the European Union adopted similar deregulatory measures. Large U.S. securities firms became "shadow banks" as regulators allowed them to issue short-term deposit substitutes to finance long-term loans and investments. Universal banks and shadow banks fueled a toxic subprime credit boom on both sides of the Atlantic during the 2000s, which led to the Great Recession. The limited reforms that followed the Great Recession did not break up universal banks and shadow banks. Those reforms left in place a financial system that is prone to excessive risk-taking and vulnerable to contagious panics. A new Glass-Steagall Act is urgently needed to prevent another systemic crisis and restore a more stable and resilient financial system"-- |
| 일반주제명 | Universal banks. Banks and banking, International. Banking law. Securities. Organizational change. Banking law. Banks and banking, International. Organizational change. Securities. Universal banks. |
| 언어 | 영어 |
| 기타형태 저록 | Print version:Wilmarth, Arthur E., 1951-Taming the megabanksNew York : Oxford University Press, 2020.9780190260705 |
| 대출바로가기 | https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=2601234 |
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| No. | 등록번호 | 청구기호 | 소장처 | 도서상태 | 반납예정일 | 예약 | 서비스 | 매체정보 |
|---|---|---|---|---|---|---|---|---|
| 1 | WE00019324 | 332.1 | 가야대학교/전자책서버(컴퓨터서버)/ | 대출가능 |
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