Book Search:  

 

 
Google full text of our books:

bookjacket

The Squam Lake Report:
Fixing the Financial System
Kenneth R. French, Martin N. Baily, John Y. Campbell, John H. Cochrane, Douglas W. Diamond, Darrell Duffie, Anil K Kashyap, Frederic S. Mishkin, Raghuram G. Rajan, David S. Scharfstein, Robert J. Shiller, Hyun Song Shin, Matthew J. Slaughter, Jeremy C. Stein, and René M. Stulz

Robert J. Shiller, Co-Winner of the 2013 Nobel Prize in Economics
Raghuram Rajan, Winner of the Deutsche Bank Prize in Financial Economics 2013, The Center for Financial Studies

Hardcover | 2010 | $19.95 / £13.95 | ISBN: 9780691148847
184 pp. | 5 1/2 x 8 1/2 | 3 line illus. 1 table. | Shopping Cart

eBook | ISBN: 9781400835805 |
Our eBook editions are available from these online vendors

Reviews | Table of Contents
Chapter 1 pdf-icon
An interview with Squam Lake Group member Anil Kashyap

Google full text of this book:
 

Read Rajan's Commentaries at

In the fall of 2008, fifteen of the world's leading economists--representing the broadest spectrum of economic opinion--gathered at New Hampshire's Squam Lake. Their goal: the mapping of a long-term plan for financial regulation reform.

The Squam Lake Report distills the wealth of insights from the ongoing collaboration that began at these meetings and provides a revelatory, unified, and coherent voice for fixing our troubled and damaged financial markets. As an alternative to the patchwork solutions and ideologically charged proposals that have dominated other discussions, the Squam Lake group sets forth a clear nonpartisan plan of action to transform the regulation of financial markets--not just for the current climate--but for generations to come.

Arguing that there has been a conflict between financial institutions and society, these diverse experts present sound and transparent prescriptions to reduce this divide. They look at the critical holes in the existing regulatory framework for handling complex financial institutions, retirement savings, and credit default swaps. They offer ideas for new financial instruments designed to recapitalize banks without burdening taxpayers. To lower the risk that large banks will fail, the authors call for higher capital requirements as well as a systemic regulator who is part of the central bank. They collectively analyze where the financial system has failed, and how these weak points should be overhauled.

Combining an immense depth of academic, private sector, and public policy experience, The Squam Lake Report contains urgent recommendations that will positively influence everyone's financial well-being--all who care about the world's economic health need to pay attention.

Review:

"If you asked me to recommend one thing to read on reforming financial regulation, [The Squam Lake Report] would be it."--Clive Crook, The Atlantic

"The Squam Lake Report [is] a slim volume that contains the best prescriptions of the brightest minds of economics about how to save the financial system."--Heidi N. Moore, CNNMoney.com

"The Squam Lake Report is a slight volume of ten chapters and just 157 pages--practically anorexic by the standards of many tomes about the credit crunch--but it makes heavyweight claims. It is the product of 15 of the leading financial economists in the United States, who first met on a weekend retreat to New Hampshire's remote and scenic Squam Lake, and offers their prescriptions for regulatory reform to stave off future collapses."--New Statesman

"Fifteen prominent academic US economists developed this concise set of recommendations for financial regulation reform in Fall 2008 in a desire to prevent a recurrence of the financial crisis that developed in 2007 and whose effects continue to the present. The introductory chapter provides an excellent summary of the cascade of financial catastrophes precipitated initially by losses on mortgage-backed securities. . . . [A] useful volume for its historical overview and coverage of key issues."--Choice

"The Squam Lake Report is an important book in a growing library of commentary on the worst financial crisis since the Depression. It delivers good and clearly written recommendations and reviews most of the key issues surrounding the crisis."--Mark S. Rzepczynski, Financial Analysts Journal

Endorsement:

"The Squam Lake Report is an excellent primer on the workings and failures of today's sophisticated financial system. Few can fail to be impressed with the scholarship the Report brings to the subject of reform."--Alan Greenspan

More Endorsements

Table of Contents:

Preface vii
Acknowledgments xi
Chapter 1: Introduction 1
Chapter 2: A Systemic Regulator for Financial Markets 33
Chapter 3: A New Information Infrastructure for Financial Markets 44
Chapter 4: Regulation of Retirement Savings 53
Chapter 5: Reforming Capital Requirements 67
Chapter 6: Regulation of Executive Compensation in Financial Services 75
Chapter 7: An Expedited Mechanism to Recapitalize Distressed Financial Firms: Regulatory Hybrid Securities 86
Chapter 8: Improving Resolution Options for Systemically Important Financial Institutions 95
Chapter 9: Credit Default Swaps, Clearinghouses, and Exchanges 109
Chapter 10: Prime Brokers, Derivatives Dealers, and Runs 122
Chapter 11: Conclusions 135
List of Contributors 153
Index 157

Another Princeton book authored or coauthored by John Y. Campbell:

Another Princeton book authored or coauthored by John H. Cochrane:

Other Princeton books authored or coauthored by Darrell Duffie:

Other Princeton books authored or coauthored by Frederic S. Mishkin:

Other Princeton books authored or coauthored by Raghuram G. Rajan:

Other Princeton books authored or coauthored by Robert J. Shiller:

Subject Areas:

Shopping Cart:

  • For ebooks:

Our eBook editions are available
from these online vendors:

  • 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

      Hardcover: $19.95 ISBN: 9780691148847

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

      Hardcover: £13.95 ISBN: 9780691148847

      Prices subject to change without notice

      File created: 3/27/2014

    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
    Textbooks
    For 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: