Book Search:  

 

 
Google full text of our books:

bookjacket

The Bankers' New Clothes:
What’s Wrong with Banking and What to Do about It
Anat Admati & Martin Hellwig
With a new preface by the authors

Anat Admati, One of Time Magazine’s 100 Most Influential People for 2014
Winner of the 2013 PROSE Award in Business, Finance & Management, Association of American Publishers
Co-Winners of the 2014 Bronze Medal in Economics, Axiom Business Book Awards
One of BloombergBusinessweek Best Books of 2013, selected by Jason Furman (chairman of the U.S. Council of Economic Advisors)
One of Choice's Outstanding Academic Titles for 2013
One of Financial Times (FT.com) Best Economics Books of 2013
One of The Wall Street Journal's Best Nonfiction Books of 2013
Shortlisted for the 2013 Deutsche Wirtschaftsbuchpreis (German Business and Economics Book Award), sponsored by Handelsblatt, the Frankfurt Book Fair, and Goldman Sachs
Shortlisted for the 2013 Spear's Book Award in Business

Paperback | 2014 | $18.95 / £12.95 | ISBN: 9780691162386
424 pp. | 5 1/2 x 8 1/2 | 6 line illus. 4 tables.
| SHOPPING CART

eBook | ISBN: 9781400851195 |
Our eBook editions are available from these online vendors

Reviews | Table of Contents
Preface[PDF] pdf-icon | Chapter 1[PDF] pdf-icon | Index [PDF] pdf-icon

Play video.
(Admati on CBS News)

Play audio.
(Admati on EconTalk)

Play video.
(Admati on Fox Business Network)

Play audio.
(Admati on KALW Today on Your Call)

Play audio.
(Admati on NPR Morning Edition)

Play video.
(Admati on Nightly Business Report)

(Anat Admati & Martin Hellwig,
Peterson Institute for International Economics)

(Anat Admati, Stanford Graduate School of Business)

The past few years have shown that risks in banking can impose significant costs on the economy. Many claim, however, that a safer banking system would require sacrificing lending and economic growth. The Bankers’ New Clothes examines this claim and the narratives used by bankers, politicians, and regulators to rationalize the lack of reform, exposing them as invalid. Anat Admati and Martin Hellwig argue that we can have a safer and healthier banking system without sacrificing any of its benefits, and at essentially no cost to society. They seek to engage the broader public in the debate by cutting through the jargon of banking, clearing the fog of confusion, and presenting the issues in simple and accessible terms.

Anat Admati is the George G. C. Parker Professor of Finance and Economics at Stanford’s Graduate School of Business. She serves on the FDIC Systemic Resolution Advisory Committee and has contributed to the Financial Times, Bloomberg News, and the New York Times. Martin Hellwig is director at the Max Planck Institute for Research on Collective Goods. He was the first chair of the Advisory Scientific Committee of the European Systemic Risk Board and the cowinner of the 2012 Max Planck Research Award for his work on financial regulation.

Review:

"Insightful . . ."--Floyd Norris, New York Times

"[I]mportant . . ."--John Cassidy, NewYorker.com

"Crucial . . ."--Jim Surowiecki, NewYorker.com

"In their recent book, Anat Admati and Martin Hellwig convincingly make the case for much stronger and simpler borrowing limitations for banks."--Roger Alcaly, New York Review of Books

"Ms. Admati and Mr. Hellwig, top-notch academic financial economists, do understand the complexities of banking, and they helpfully slice through the bankers' self-serving nonsense. Demolishing these fallacies is the central point of The Bankers' New Clothes."--John Cochrane, Wall Street Journal

"Professor and journalist Admati and economic researcher Hellwig argue that it is possible to have a well-balanced banking system without any cost to society; weak regulations and lax enforcement is what caused the buildup of risk unleashed in the crisis. Here, they aim to demystify banking and expand the range of voices in the debate; encouraging people to form opinions and express doubts will ensure a healthier financial system as people understand the issues and influence policy. . . . The authors push for aggressive reform by outlining specific steps that can be taken to change our banking system for the better."--Publishers Weekly

"In a year of important books about the recent economic crisis, the most important one told us simply how to stop the next one."--Wall Street Journal, Best Nonfiction 2013 selection

More reviews

Table of Contents:

Preface to the Paperback Edition ix
Preface xiii
Acknowledgments xvii
1 The Emperors of Banking Have No Clothes 1
PART I Borrowing, Banking, and Risk 15
2 How Borrowing Magnifies Risk 17
3 The Dark Side of Borrowing 32
4 Is It Really "A Wonderful Life"? 46
5 Banking Dominos 60
PART II The Case for More Bank Equity 79
6 What Can Be Done? 81
7 Is Equity Expensive? 100
8 Paid to Gamble 115
9 Sweet Subsidies 129
10 Must Banks Borrow So Much? 148
PART III Moving Forward 167
11 If Not Now, When? 169
12 The Politics of Banking 192
13 Other People’s Money 208
Notes 229
References 337
Index 363

Another Princeton book authored or coauthored by Anat Admati:

Another Princeton book authored or coauthored by Martin Hellwig:

Subject Areas:

Shopping Cart:

  • For ebooks:

Our eBook editions are available
from these online vendors:

  • Amazon Kindle Store
  • Apple iBooks
  • Barnes & Noble Nook Store
  • Google Play eBook Store
  • Kno eBook Store
  • Kobo eBook Store
  • Many of our ebooks are available through
    library electronic resources including these platforms:

  • Books at JSTOR
  • Ebrary
  • Ebook Library
  • EBSCO Ebooks
  • MyiLibrary
  • Dawsonera (UK)

  • Shopping Cart:

    • For hardcover/paperback orders:

      For hardcover/paperback orders in the United States, Canada, Latin America, Asia, and Australia

      Paperback: $18.95 ISBN: 9780691162386

      For hardcover/paperback orders in Europe, Africa, the Middle East, and India

      Paperback: £12.95 ISBN: 9780691162386

      Prices subject to change without notice

      File created: 7/11/2014

    Questions and comments to: webmaster@press.princeton.edu
    Princeton University Press

    New Book E-mails
    New In Print
    PUP Blog
    Videos/Audios
    Princeton APPS
    Sample Chapters
    Subjects
    Series
    Catalogs
    Princeton Legacy Library
    Textbooks
    Media/Reviewers
    Class Use
    Rights/Permissions
    Ordering
    Recent Awards
    Princeton Shorts
    Freshman Reading
    PUP Europe
    About Us
    Contact Us
    Links
    F.A.Q.
    PUP Home


    Bookmark and Share
    Send me emails
    about new books in:
    Economics
    Finance
    Political Science and International Relations
    More Choices
    Email:
    Country:
    Name: