From the Inside Flap
With so much information saturating the market, it has beendifficult for both financial professionals and those in theacademic community to gain a firm understanding of why the recenteconomic crisis occurred and what needs to be done to fix it. Thereis a real need, and demand, from both finance professionals andscholars to obtain answers as to what really happened and why.
That's why Robert Kolb—one of today's most respectedacademics and Editor of the Robert W. Kolb Series inFinance—has created Lessons from the Financial Crisis.Consisting of contributed chapters from leading minds in the worldsof finance, government, and academia, Lessons from the FinancialCrisis dissects this devastating crisis and offers a valuablelook at what we must do to avoid future missteps.
Page by page, this timely guide puts the events that havetranspired in perspective and skillfully details why it began andhow it developed as well as its effect on people, implication forour economy, and the broader ramifications for our society. Witheach contributor bringing his or her own unique insights into thisdilemma, you'll gain a firm understanding of the issues that lie atthe heart of the recent financial crisis.
Topics touched upon along the way include:
Particular institutional problems that were revealed in thecrisis
The role of borrowers, especially subprime borrowers, infomenting the crisis
The failures of modern risk analysis and management, and howthese essential disciplines can be improved
The securitization process and how a new way of originatingmortgages affected the mortgage market and the broader financialcrisis
Regulatory, systemic, and other solutions that can beimplemented to avert future problems
And much more
We currently face a serious economic situation, but inunderstanding it, we can overcome the challenges it presents. Thiswell-rounded resource offers the best chance to get through thesetough times and learn from our mistakes.
From the Back Cover
LESSONS from the FINANCIAL CRISIS
The Robert W. Kolb Series in Finance is an unparalleled sourceof information dedicated to the most important issues in modernfinance. Each book focuses on a specific topic in the field offinance and contains contributed chapters from both respectedacademics and experienced financial professionals. As part of theRobert W. Kolb Series in Finance, Lessons from the FinancialCrisis provides a comprehensive understanding of the conceptualunderpinnings of the issues that lie at the heart of thiscrisis.
Lessons from the Financial Crisis puts the events thathave transpired in perspective and explores what can be done toavoid future missteps. Throughout the book, you'll be introduced todifferent points of view on the crisis, with chapters discussingeverything from subprime mortgages and securitization to riskmodeling and regulation, as well as related research that will helpyou develop a deeper understanding of the economic obstacles wehave all faced.
Topics touched upon include:
The possible causes of this crisis and its emerging consequencesfor our economy and lives
The decisions of the Federal Reserve and how the very actions ithas taken to avert disaster may be laying the foundation for morefinancial problems in the future
The international dimensions of the financial crisis
The role of regulation, its absence, and the failure ofregulators to enforce existing rules
And much more
The recent financial crisis has been an economic event thatranks second only to the Great Depression. With this book as yourguide, you'll gain a firm understanding of what occurred and why,and discover how we might be able to move forward in light ofeverything that has happened.