- The Bankers' New Clothes
The Bankers' New Clothes
What's Wrong with Banking and What to Do about It - Updated Edition
Anat Admati & Martin Hellwig
With a new preface by the authors
- Paperback18.9514.99ISBN9780691162386424 pp.5 1/2 x 8 1/26 line illus. 4 tables.
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.
More about this book
- 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 (FT.com) 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
Admati on CBS News Play video.
Admati on EconTalk Play audio.
Admati on Fox Business Network Play video.
Admati on KALW Today on Your Call Play audio.
Admati on NPR Morning Edition Play audio.
Anat Admati & Martin Hellwig, Peterson Institute for International Economics
Anat Admati, Stanford Graduate School of Business
Other Books Written by this Author(s)
- Anat Admati
- Martin Hellwig
- Anat Admati
- Martin Hellwig
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