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Bank capital --- Banks and banking --- Economics --- Global Financial Crisis, 2008-2009 --- Law and legislation --- Risk management --- Political aspects --- Basel II --- Basle Accord --- Financial crises --- History

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The financial crisis has been blamed on reckless bankers, irrational exuberance, government support of mortgages for the poor, financial deregulation, and expansionary monetary policy. Specialists in banking, however, tell a story with less emotional resonance but a better correspondence to the evidence: the crisis was sparked by the international regulatory accords on bank capital levels, the Basel Accords.In one of the first studies critically to examine the Basel Accords, Engineering the Financial Crisis reveals the crucial role that bank capital requirements and other government regulations played in the recent financial crisis. Jeffrey Friedman and Wladimir Kraus argue that by encouraging banks to invest in highly rated mortgage-backed bonds, the Basel Accords created an overconcentration of risk in the banking industry. In addition, accounting regulations required banks to reduce lending if the temporary market value of these bonds declined, as they did in 2007 and 2008 during the panic over subprime mortgage defaults.The book begins by assessing leading theories about the crisis-deregulation, bank compensation practices, excessive leverage, "too big to fail," and Fannie Mae and Freddie Mac-and, through careful evidentiary scrutiny, debunks much of the conventional wisdom about what went wrong. It then discusses the Basel Accords and how they contributed to systemic risk. Finally, it presents an analysis of social-science expertise and the fallibility of economists and regulators. Engagingly written, theoretically inventive, yet empirically grounded, Engineering the Financial Crisis is a timely examination of the unintended-and sometimes disastrous-effects of regulation on complex economies.

Global Financial Crisis, 2008-2009. --- Financial crises --- Bank capital --- Banks and banking --- Economics --- History --- Law and legislation. --- Risk management. --- Political aspects. --- Basle Accord --- Basel II --- Business. --- Economics. --- Political Science. --- Public Policy.

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International finance --- AA / International- internationaal --- 333.162 --- 333.139.2 --- 333.137 --- 333.139.0 --- 333.17 --- 333.139.1 --- Bank voor Internationale Betalingen. --- Bankcontrole en -reglementering. Reglementering van het bankberoep. --- Buitenlandse en koloniale banken.Bancaire internationalisering. --- Controle en nationalisatie van de banken: algemeen. --- Crises, saneringen en hervormingen van het bankwezen. --- Instellingen voor kredietcontrole. Commissie voor het Bank-en financiewezen. CBFA. --- Banks and banking, International --- International monetary system --- International money --- International banking --- Offshore banking (Finance) --- Transnational banking --- Buitenlandse en koloniale banken.Bancaire internationalisering --- Controle en nationalisatie van de banken: algemeen --- Instellingen voor kredietcontrole. Commissie voor het Bank-en financiewezen. CBFA --- Bankcontrole en -reglementering. Reglementering van het bankberoep --- Bank voor Internationale Betalingen --- Crises, saneringen en hervormingen van het bankwezen --- Basle Accord --- Basel Accord --- Basel Agreement --- Basel Capital Accord --- Basel I --- Basle Capital Accord --- Pa-sai-erh hsieh i (1988) --- Finance --- International economic relations --- Financial institutions, International