From the Inside Flap
With so much information saturating the market, it has been difficult for both financial professionals and those in the academic community to gain a firm understanding of why the recent economic crisis occurred and what needs to be done to fix it. There is a real need, and demand, from both finance professionals and scholars to obtain answers as to what really happened and why.
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
LESSONS from the FINANCIAL CRISIS
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.