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Much has been written and spoken about  the lessons learned from the financial crisis of 2009. In this book, we list the lessons not learned before the financial crisis. The purpose of this book is to demonstrate that the theoretical and intellectual frameworks for regulating financial systems that had been available since at least 2001 could have prevented the systemic failure in the United States that led to the collapse of global credit markets in 2008.

Capital market. --- Financial institutions. --- Financial intermediaries --- Lending institutions --- Associations, institutions, etc. --- Capital markets --- Market, Capital --- Finance --- Financial institutions --- Loans --- Money market --- Securities --- Crowding out (Economics) --- Efficient market theory --- Capital market --- Monetary policy --- Global Financial Crisis, 2008-2009 --- Global Economic Crisis, 2008-2009 --- Subprime Mortgage Crisis, 2008-2009 --- Financial crises --- Monetary management --- Economic policy --- Currency boards --- Money supply --- Global Financial Crisis (2008-2009) --- E-books --- 2008 - 2009

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Rigged financial markets and hopeless under-regulation on Wall Street are not new problems. In this book, Susanne Trimbath gives a sobering account of naked short selling, the failure to settle, and her efforts over decades, trying to get this fixed.

Securities industry. --- Short selling (Securities).

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Robert L. Bartley Editor Emeritus, The Wall Street Journal As this collection of essays is published, markets, regulators and society generally are sorting through the wreckage of the collapse in tech stocks at the turn of the millennium. All the more reason for an exhaustive look at our last “bubble,” if that is what we choose to call them. We haven’t had time to digest the lesson of the tech stocks and the recession that started in March 2001. After a decade, though, we’re ready to understand the savings and loan “bubble” that popped in 1989, preceding the recession that started in July 1990. For more than a half-century, we can now see clearly enough, the savings and loans were an accident waiting to happen. The best insurance for financial institutions is diversification, but the savings and loans were concentrated solely in residential financing. What’s more, they were in the business of borrowing short and lending long, accepting deposits that could be withdrawn quickly and making 20-year loans. They were further protected by Regulation Q, allowing them to pay a bit more for savings deposits than commercial banks were allowed to. In normal times, they could ride the yield curve, booking profits because long-term interest rates are generally higher than short-term ones. This world was recorded in Jimmy Stewart’s 1946 film, It’s a Wonderful Life.

Savings and loan associations --- Savings and loan association failures --- Bank failures --- Deregulation --- Finance. --- Finance, general. --- Funding --- Funds --- Economics --- Currency question --- Building and loan associations --- Building societies --- Cooperative building associations --- Depository institutions --- Loan associations --- Provident loan associations --- S and L's --- Thrift institutions