Includes bibliographical references (p. 264-271) and index.
Contents
Pt. 1: Credit crunch ashes and pains. The mismanagement of credit risk -- The Fed has got it wrong -- The globalization of credit risk -- Pt. 2: The subprimes crisis. Earthquake in the subprime mortgage market -- The industrialization of credit risk -- Leveraged instruments, their credit ratings, and other unorthodox practices -- Northern rock: a case study -- Pt. 3: Bank supervisors and their remit. Responsibilities of financial regulation -- Solvency, liquidity, asset-backed paper, and the carry trade -- Is there a remedy for the problems of bank supervision?
