This book will become a classic for those who want to learn what was behind the global financial crisis -- not just what went wrong, but why current reforms won't work. Most important, it offers guidelines to prevent the next crisis by forcing regulators, the Guardians of Finance, to work for the public interest rather than for narrow elites.(Nouriel Roubini, Co-Founder and Chairman, Roubini Global Economics)
This book involves a strongly, even passionately, argued attack on financial regulators for having made a mess of financial regulation, prior to 2007. It is beautifully written, and very well designed to achieve a wide audience of readers who are interested in the crisis, but are not necessarily themselves expert. It is based on great academic expertise, but wears its deep scholarship lightly, with no maths and no equations.(Charles Goodhart, London School of Economics)
There have been plenty of books on the financial crisis. But this one is different. While acknowledging that private financiers did plenty of damage, the authors shine the spotlight on regulators across the world. They argue that the crisis did not just happen to policymakers, it happened because of them, and offer careful and well-reasoned arguments to support their case. Guardians of Finance should be read by everyone interested in the future of free enterprise.(Raghuram G. Rajan, The University of Chicago Booth School of Business)
Financial crises are not in the interests of bankers, regulators, or politicians. Yet all three groups did nothing as the U.S. financial system headed over a cliff. Why didn't they act? Why did their counterparts in other countries, such as Ireland and Iceland, also stick their heads in the sand? Is there a way to prevent the next crisis, or do we have to rely on the same groups that brought us the ongoing disaster of 2007? Read this meticulously researched and clearly argued book, and learn the answers.(Stephen Haber, Stanford University)
This is a timely, well-written, and nontechnical book by established experts in the field.(R.Grossman, Choice)
For those involved in policy formulation and regulation, whether at national or international level, in government or financial institutions, this is compulsory reading.(Richard Parlour, Central Banking Journal)
The authors' writing are strikingly clear and explained the issue crystal clear.
The book makes a strong case of how officials are abusing their power and not working for the public at large and it suggests a way to fix the fundamental problems.
The book makes learning about financial regulation exciting and highly enjoyable.
This book reads as a train, contains very interesting analysis, based on an excellent knowledge of the financial crisis. Read morePublished 19 months ago by Hendrik Bright
This book does a good job of tracing many of the regulatory breakdowns in the buildup to the most recent crisis and is one of many recent books that questions the response of... Read morePublished on October 28, 2012 by Vern McKinley
The idea contained in this book would be a good start on the kinds of reform the Democratic Congress of Obama's first term should have enacted instead of the obsence 2,000 page... Read morePublished on May 26, 2012 by Terry Jennrich
James Barth, Gerard Caprio, and Ross Levine methodically debunk the myth that the ongoing financial crisis is an accident. Read morePublished on March 26, 2012 by Serge J. Van Steenkiste
The central focus of the GUARDIANS OF FINANCE is the collapse of the banking system in 2008 and the failure of the regulatory agencies to prevent this demise. Read morePublished on March 21, 2012 by Prof. Norman Levine