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Should Increased Regulation of Bank Risk-Taking Come from Regulators Or from the Market?
Robert L. Hetzel
其他書名
A Reprint from the "Economic Quarterly"
出版DIANE Publishing, 2010
主題Business & Economics / General
ISBN14379195299781437919523
URLhttp://books.google.com.hk/books?id=YUYLtqCgikwC&hl=&source=gbs_api
EBookSAMPLE
註釋The heavy losses in bank asset portfolios do not reflect an inherent failure of markets to monitor risk adequately but rather the perverse incentives of the financial safety net to excessive risk-taking. The unsustainable rise in house prices and their subsequent sharp decline derived from the combination of a public policy to expand home ownership to unrealistic levels and from a financial safety net that encouraged excessive risk-taking by banks. Charts and tables.