Overview

The recent subprime mortgage and credit crisis has impacted nearly all Americans. It is too late to prevent this crisis, but it is not too early to look at what caused it and what can be done to avert similar situations in the future. Financial Regulation after the Subprime and Credit Crisis presents an insightful analysis of the crisis' catalysts, and most importantly advances a practical plan to overcome the deficiencies of the existing regulatory regime.What lessons have we learned about regulatory reform, models of securitization, and liquidity requirements? This book addresses issues central to the debate for strengthening regulatory design through a reduction of home foreclosures, an imperative to improve the performance of credit-rating agencies, and an agreement on executive compensation. By identifying strategies for modification within the market, Goldstein proposes workable reforms that respond appropriately to current financial vulnerabilities and minimize the likelihood of a future crisis.

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9780881324211

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Morris Goldstein, Dennis Weatherstone Senior Fellow since 1994, has held several senior staff positions at the International Monetary Fund (1970-94), including Deputy Director of its Research Department (1987-94). He has written extensively on international economic policy and on international capital markets. He is the author of Managed Floating Plus (2002), The Asian Financial Crisis: Causes, Cures, and Systemic Implications (1998), The Case for an International Banking Standard (1997), The Exchange Rate System and the IMF: A Modest Agenda (1995), coeditor of Debating Chinese Exchange Rates (2008), Private Capital Flows to Emerging Markets after the Mexican Crisis (1996), and coauthor of Controlling Currency Mismatches in Emerging Markets (2004) with Philip Turner, and Assessing Financial Vulnerability: An Early Warning System for Emerging Markets with Graciela Kaminsky and Carmen Reinhart (2000).

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