Jimmy Stewart is dead: ending the world's ongoing financial plague with limited purpose banking

Discover how the global financial plague is poised to return, and what can bedone to stop it. This is not your father's financial system. Jimmy Stewart, the trustworthy, honest banker in the movie, It's a Wonderful Life, is dead. And so is his small-town bank, Bailey Savings & Loan. Instead, we're watching It's a Horrible Mess with Wall Street (aka the Vegas Strip) playing ever larger craps with our economy and our tax dollars. This book, written by one of the world's most respected economist, describes in lively, humorous, simple, but also deadly serious terms the big con underlying the big game-the web of interconnected financial, political, and regulatory malfeasance that culminated in financial meltdown and brought us to our economic knees. But is also proposes a solution-Limited Purpose Banking, a straightforward and easily implemented plan to make Wall Street safe for Main Street. Outlines the first and only proposal to fundamentally fix our financial disaster for good. Written by a leading economist whose insights on this topic are unparalleled. Explains the tenets of the plan, such as the regained government control of the money supply and the new role of insurance companies “Jimmy Stewart Is Dead” will fundamentally change the way you think about the economy, financial markets, and the government-sand even if you don't agree with Kotlikoff's conclusion, you'll find his analysis of the crisis and his simple solution a true economic eye-opener. LAURENCE J. KOTLIKOFF is a William Fairfield Warren Professor of Economicsat Boston University, Fellow of the American Academy of Arts and Sciences, Research Associate of the National Bureau of Economic Research, Fellow of the Econometric Society, and former Senior Economist, President's Council of Economic Advisers. Coauthor of The Coming Generational Storm and Spend 'Til the End and author of The Healthcare Fix, Kotlikoff has been published extensively in the nation's leading newspapers, magazines, and financial web sites on financial reform, taxes, saving, growth, deficits, Social Security, healthcare, pensions, and personal finance. INDICE: Acknowledgments. Preface. Chapter 1 It's a Horrible Mess. It's NotBailey's Savings & Loan. Economics Diary - Spring 2009: The D Word. EconomicsDiary - , August 22, 2009: The Treasury's No-Stress Stress Test. Economics Diary - August 26, 2009: The State of the States. It's the Psychology, Duh! WhenLexington, MA Turns Into Camden, NJ. Economics Diary - August 25, 2009: The Great D or the Great R? Systemic Risk Insurance. Who's Backstopping the Backstop? Trust Doesn't Come Cheap. Full Non-Disclosure. A System With No Firewalls. Chapter 2 The Big Con. Financial Malfeasance American Style. Richard Fuld or Elmer Fudd? Playing Bridge As Bear Burned. Macho Macho Men. Stan the Man. Economic Diary - August 11, 2009: Uncle Sam Sues Uncle Sam. Economics Diary - September 14, 2009: Judge Rakoff Says No Way Jose. The Prince of Redness. CDOs to the Races. CDO Liquidity Puts. AIG's Three Hundred Million Dollar Man. FranklinDelano Raines. Speculation with Other Peoples' Money. It's the Leveraging, Not the Leverage. Stealing Other People's Money. Madoff's Ponzi Scheme. The Essense of Ponzi Schemes. Economics' Take on Ponzi Schemes. Don't Show Me the Money. The Real Crime in a Ponzi Scheme. Is the U. S. Banking System a Ponzi Scheme? From Ponzi Schemes to Full Disclosure. Disclosure Is Essential. Disclosure Is Not Enough. Uncle Sam's Ponzi Scheme. Fiscal Gap Accounting. Why Is the U. S. Fiscal Gap So Large? Social Security's Unfunded Liability. Is the U. S. Bankrupt? Chapter 3 Uncle Sam's Dangerous Medicine. Sam's Got Your Back. MaturityTransformation in Theory and Practice. Backing the Buck. Opening Pandora's Box. Economics Diary - September 14, 2009: Trade/Financial War With China? Our Once and Future Horrible Mess. Big Brother, Can You Spare Me One Hundred Billion? Bailing Out Corporate Pensions. Recapitalizing the Banks. Buying Up Toxic Assets. GASP -- The Geithner and Summers Plan. Putting More of Someone Else's Skin in the Game. Leverage Upon Leverage. Weapons of Mass Financial Destruction. Proposed “Control of Derivatives”. The Dangers of Putting Wall Street on a Leash. Chapter 4 “This Sucker Could Go Down”. Taking Stock. We Are Not All Keynesians Now. Reviewing the Case for Radical Surgery. Chapter 5 Limited Purpose Banking. Full Disclosure - No Plan Is Perfect. Banks = Mutual Funds. The Federal Financial Authority. Ending Insider Rating. Bye Bye Bernie, Bye Bye Allen. Initiation, Not Securitization, Is the Problem. Securitizing Death. Cash Mutual Funds. Obviating FDIC Insurance and Capital Requirements. Cash Mutual Funds and Narrow Banking. Regaining Control of the Money Supply. Insurance Mutual Funds. Illustrating a Life Insurance Mutual Fund. Insuring the Uninsurable - a Life Insurance Example. The Financial Risk of Swine Flu. LPB Life Insurance Mutual Funds and Tontines. Illustrating Other Types of LPB Insurance Mutual Funds. LPB Lets Us Leverage Ourselves, But Not Our Fellow Countrymen. Using Insurance Mutual Funds to Buy and Sell Credit Default Swaps. Sharing Aggregate Risk. Parimutuel Betting and Insurance Mutual Funds. Betting on More Than One Horse/Mortality Rate. Illustrating a Homeowners Insurance Mutual Fund. Helping Solvethe Corporate Governance Problem. Relationship of Limited Purpose Banking to Glass-Steagall. Isn't LPB Simply Imposing 100% Capital Requirements? Chapter 6Getting From Here to There. Implementing Limited Purpose Banking. Zombies andGazelles. De-Leveraging Investment Banking and Trading. An End to Rogue Trading. The Politics of Limited Purpose Banking. Chapter 7 What About?. Can We Just Agree to Agree?. Will LPB Reduce Liquidity?. Will LPB Reduce Credit?. Who Will Lend to Business?. Will LPB Reduce Leverage?. Will LPB Shrink the FinancialSector?. Doesn't LPB Force Us To Become Our Own Bankers?. Isn't LPB Reducing the Amount of Safe Assets?. Isn't LPB Making People Build Their Own Insurance Policies?. Insuring Against Changes in Insurability. With LPB You Don't Know the Odds Until It's Too Late. Why Not Simply Correctly Price the Government's Guarantees?. How Will Monetary Policy Operate?. What about Foreign Assets?. Won't Americans Just Bank Abroad?. Doesn't LPB Dramatically Shrink the Money Supply?. What's the Role of the FFA in Investment Banking?. What About Hedge Funds, Venture Capital, And Private Equity Firms?. Is GE a Bank Under LPB?. Can't Non-Financial Corporations Play Conventional Bank?. Why Let Partnerships and Prioritorships Run Regular Banks?. Chapter 8 Conclusion. Afterward Fixing the Rest of Our Economic Mess. Fixing Taxes -- The PurpleTax. Fixing Healthcare - Medicare Part C For All!. Fixing Social Security and Retirement Accounts -- The Personal Security System. Removing The Fiscal and Economic Swords of Damocles.About the Author. Index.

• ISBN: 978-0-470-58155-1
• Editorial: John Wiley & Sons
• Encuadernacion: Cartoné
• Páginas: 256
• Fecha Publicación: 17/03/2010
• Nº Volúmenes: 1
• Idioma: Inglés