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Lessons from the Financial Crisis: Causes, Consequences, and Our Economic Future Hardcover – June 8, 2010
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From the Inside Flap
That's why Robert Kolb—one of today's most respected academics and Editor of the Robert W. Kolb Series in Finance—has created Lessons from the Financial Crisis. Consisting of contributed chapters from leading minds in the worlds of finance, government, and academia, Lessons from the Financial Crisis dissects this devastating crisis and offers a valuable look at what we must do to avoid future missteps.
Page by page, this timely guide puts the events that have transpired in perspective and skillfully details why it began and how it developed as well as its effect on people, implication for our economy, and the broader ramifications for our society. With each contributor bringing his or her own unique insights into this dilemma, you'll gain a firm understanding of the issues that lie at the heart of the recent financial crisis.
Topics touched upon along the way include:
Particular institutional problems that were revealed in the crisis
The role of borrowers, especially subprime borrowers, in fomenting the crisis
The failures of modern risk analysis and management, and how these essential disciplines can be improved
The securitization process and how a new way of originating mortgages affected the mortgage market and the broader financial crisis
Regulatory, systemic, and other solutions that can be implemented to avert future problems
And much more
We currently face a serious economic situation, but in understanding it, we can overcome the challenges it presents. This well-rounded resource offers the best chance to get through these tough times and learn from our mistakes.
From the Back Cover
The Robert W. Kolb Series in Finance is an unparalleled source of information dedicated to the most important issues in modern finance. Each book focuses on a specific topic in the field of finance and contains contributed chapters from both respected academics and experienced financial professionals. As part of the Robert W. Kolb Series in Finance, Lessons from the Financial Crisis provides a comprehensive understanding of the conceptual underpinnings of the issues that lie at the heart of this crisis.
Lessons from the Financial Crisis puts the events that have transpired in perspective and explores what can be done to avoid future missteps. Throughout the book, you'll be introduced to different points of view on the crisis, with chapters discussing everything from subprime mortgages and securitization to risk modeling and regulation, as well as related research that will help you develop a deeper understanding of the economic obstacles we have all faced.
Topics touched upon include:
The possible causes of this crisis and its emerging consequences for our economy and lives
The decisions of the Federal Reserve and how the very actions it has taken to avert disaster may be laying the foundation for more financial problems in the future
The international dimensions of the financial crisis
The role of regulation, its absence, and the failure of regulators to enforce existing rules
And much more
The recent financial crisis has been an economic event that ranks second only to the Great Depression. With this book as your guide, you'll gain a firm understanding of what occurred and why, and discover how we might be able to move forward in light of everything that has happened.
More About the Author
Kolb holds two Ph.D.s from the University of North Carolina at Chapel Hill (philosophy 1974, finance 1978) and has been a finance professor at the University of Florida, Emory University, the University of Miami, the University of Colorado, and currently at Loyola University Chicago, where he holds the Considine Chair of Applied Ethics.
Kolb's recent writings include Understanding Futures Markets 6e, and Futures, Options, and Swaps 5e, co-authored with James A. Overdahl. Edited volumes include The Ethics of Executive Compensation, The Ethics of Genetic Commerce, Corporate Retirement Security: Social and Ethical Issues, Corporate Boards: Managers of Risk, Sources of Risk, and the Encyclopedia of Business Ethics and Society, a five-volume 1.5 million word work. Bob recently published Lessons from the Financial Crisis: Causes, Consequences, and Our Economic Future. Current projects include: Employee Stock Options: Financial, Social, and Ethical Issues and The Financial Crisis of Our Time, forthcoming from John Wiley & Sons, Inc. and Oxford University Press, respectively.
Bob also is the sponsoring editor for the Robert W. Kolb Series in Finance:
Also, visit Bob's web pages:
Academic and professional: http://www.RobertWKolb.com
Top Customer Reviews
I particularly enjoyed the contribution by David Bieri, who addresses the unspoken "elephant in the room" - Why did so few people see this coming?; and also J.V. Rizzi's piece on the human behavioural aspect of the whole saga.
This book is the definitive tour of the Financial Crisis - and as such is an important contribution to the debate about how we improve the way finance and markets works in the future for everyone's benefit.