At the heart of the current panic is the 'shadow banking system,' the nexus of financial markets and instruments unknown to most people. It is a real banking system, providing a way for institutional investors and firms to deposit money. But it was vulnerable to a banking panic. This system, which insider GaryGorton attempts to unfurl in Slapped by the Invisible Hand, lies at the heartof today's financial crisis. Building upon his highly-acclaimed paper for thethe Federal Reserve Bank of Kansas City's August 2008 Jackson Hole Conference, Gorton presents new research and the information relevant to understanding the complexity of exactly what went wrong in the financial sphere. INDICE: 1.: Introduction; 2.: Slapped in the Face by the Invisible Hand: Banking and the Panic of 2007 (the Jekyll Island paper); 3.: The Panic of 2007: Part 1 (Part 1 of the Jackson Hole paper); 4.: The Panic of 2007: Part 2 (Part 2 of the Jackson Hole paper); Appendix A: A Brief Chronology of the Events of the Panic of 2007; Appendix B: Main Structured Investment Vehicle Outcomes; 5.: Bank Regulation When 'Banks' and 'Banking' are Not the Same; 6.: A Noteto Those Reading this in 2107; 7.: Bibliography; 8.: Notes; 9.: Index
- ISBN: 978-0-19-973415-3
- Editorial: Oxford University
- Encuadernacion: Cartoné
- Páginas: 232
- Fecha Publicación: 29/04/2010
- Nº Volúmenes: 1
- Idioma: Inglés