Book contents
- Frontmatter
- Contents
- List of figures
- List of tables
- Preface
- Acknowledgments
- Abbreviations
- 1 Introduction
- 2 Financial crises in the USA and Europe, but not in Asia
- 3 Could today’s financial crisis have been foreseen?
- 4 The US housing market and the subprime crisis
- 5 Securitization and derivatives spread the crisis around the world
- 6 Liquidity risk aspects of the crisis and a comparison with 1907 and 1929
- 7 Credit risk aspects of the crisis, rating and solvency
- 8 Financial crises in modern history
- 9 Worldwide changes in regulation and supervision as a result of the crisis
- 10 Outstanding issues
- Bibliography
- Index
10 - Outstanding issues
Published online by Cambridge University Press: 05 June 2012
- Frontmatter
- Contents
- List of figures
- List of tables
- Preface
- Acknowledgments
- Abbreviations
- 1 Introduction
- 2 Financial crises in the USA and Europe, but not in Asia
- 3 Could today’s financial crisis have been foreseen?
- 4 The US housing market and the subprime crisis
- 5 Securitization and derivatives spread the crisis around the world
- 6 Liquidity risk aspects of the crisis and a comparison with 1907 and 1929
- 7 Credit risk aspects of the crisis, rating and solvency
- 8 Financial crises in modern history
- 9 Worldwide changes in regulation and supervision as a result of the crisis
- 10 Outstanding issues
- Bibliography
- Index
Summary
Trying to conclude or even summarize a book of the present format and size, with its wealth of information in the form of institutional facts, statistical data, discussions and analyses, is beyond human capacity – at least beyond mine! Let me focus instead on what issues remain to be fixed in order to mitigate the next financial crisis, for there will surely be one. During my 45 years as a professional economist in academia, banking and consulting, I have witnessed and participated in (and written about) a number of these crises. I expect to cover at least a couple more before I am done, though hopefully they will not be of Richter magnitude 8.0 or so, such as the one we have just been through.
Could we perhaps also speculate on which financial products and/or which institutions might trigger the next crisis? Has anything been done in the solving of the present crisis that might make things even more difficult the next time round? I leave these questions until the end.
- Type
- Chapter
- Information
- A Global History of the Financial Crash of 2007–10 , pp. 361 - 371Publisher: Cambridge University PressPrint publication year: 2011