Economics & Finance

The Bankers' New Clothes: What's Wrong with Banking and What to Do about It - Updated Edition

    Preface by
  • Anat Admati
  • Martin Hellwig

Why our banking system is broken—and what we must do to fix it


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Mar 23, 2014
6 line illus. 4 tables.
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As memories of the Global Financial Crisis have faded, it has been tempting to believe that the banking system is now safe and that we will never again have to choose between havoc and massive bailouts. But The Bankers’ New Clothes shows that reforms have changed little—and that the banks still present serious dangers to the world economy. Writing in clear language anyone can understand, Anat Admati and Martin Hellwig explain how we can have a healthier banking system without sacrificing any benefits. They also debunk the false and misleading narratives of bankers, regulators, politicians, academics, and others who oppose real reform.

Awards and Recognition

  • 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 The Wall Street Journal's Best Nonfiction Books of 2013
  • One of Financial Times ( Best Economics 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
  • Selected for the ‘Moyers & Company’ Recommended Books List 2014
  • Shortlisted for the 2013 Spear's Book Award in Business