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The Squam Lake Report: Fixing the Financial System Hardcover – June 14, 2010
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Raghuram Rajan, Winner of the Deutsche Bank Prize in Financial Economics 2013, The Center for Financial Studies
"If you asked me to recommend one thing to read on reforming financial regulation, [The Squam Lake Report] would be it."--Clive Crook, The Atlantic
"The Squam Lake Report [is] a slim volume that contains the best prescriptions of the brightest minds of economics about how to save the financial system."--Heidi N. Moore, CNNMoney.com
"The Squam Lake Report is a slight volume of ten chapters and just 157 pages--practically anorexic by the standards of many tomes about the credit crunch--but it makes heavyweight claims. It is the product of 15 of the leading financial economists in the United States, who first met on a weekend retreat to New Hampshire's remote and scenic Squam Lake, and offers their prescriptions for regulatory reform to stave off future collapses."--New Statesman
"Fifteen prominent academic US economists developed this concise set of recommendations for financial regulation reform in Fall 2008 in a desire to prevent a recurrence of the financial crisis that developed in 2007 and whose effects continue to the present. The introductory chapter provides an excellent summary of the cascade of financial catastrophes precipitated initially by losses on mortgage-backed securities. . . . [A] useful volume for its historical overview and coverage of key issues."--Choice
"The Squam Lake Report is an important book in a growing library of commentary on the worst financial crisis since the Depression. It delivers good and clearly written recommendations and reviews most of the key issues surrounding the crisis."--Mark S. Rzepczynski, Financial Analysts Journal
From the Back Cover
"The Squam Lake Report is an excellent primer on the workings and failures of today's sophisticated financial system. Few can fail to be impressed with the scholarship the Report brings to the subject of reform."--Alan Greenspan
"The Squam Lake Report makes an important contribution to the debate on financial regulation, highlighting many interesting and innovative ideas that should be considered by all those studying how a future crisis can be avoided."--Mervyn King, Governor of the Bank of England
"Insightful and highly relevant."--Markus K. Brunnermeier, Princeton University
Top Customer Reviews
The book is notable in another respect, this is the only book on the financial crisis that discusses the "prime brokerage runs" that brought down Bear and Lehman and nearly brought down Morgan Stanley and Goldman. Once again, they provide a straight forward explanation of an arcane topic. Few people seem to understand how prime brokerage runs work. In today's (10/6/2011) Wall Street Journal, there is an article on Morgan Stanley's prime brokerage business where the reporter would have greatly benefited from reading this book.
Most Recent Customer Reviews
The problem with this book is that it was written completely by a group of economists who accept the standard underlying Benthamite Utilitarian philosophy of Maximizing... Read morePublished on March 6, 2011 by Michael Emmett Brady
I do not reccommend this book for a layman. I am not sure what the authors were trying to say.Published on August 15, 2010 by David Caldwell