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The Fed and Lehman Brothers: Setting the Record Straight on a Financial Disaster
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eBay item number:155803885430
Item specifics
- Condition
- Brand New: A new, unread, unused book in perfect condition with no missing or damaged pages. See all condition definitionsopens in a new window or tab
- Binding
- TC
- EAN
- 9781108420969
- ISBN
- 1108420966
- Book Title
- The Fed and Lehman Brothers: Setting the Record St
About this product
Product Identifiers
Publisher
Cambridge University Press
ISBN-10
1108420966
ISBN-13
9781108420969
eBay Product ID (ePID)
240577333
Product Key Features
Number of Pages
294 Pages
Publication Name
Fed and Lehman Brothers : Setting the Record Straight on a Financial Disaster
Language
English
Publication Year
2018
Subject
Banks & Banking, Economic History, Economics / Macroeconomics, Money & Monetary Policy
Type
Textbook
Subject Area
Business & Economics
Series
Studies in Macroeconomic History Ser.
Format
Hardcover
Dimensions
Item Height
0.7 in
Item Weight
21.5 Oz
Item Length
9.3 in
Item Width
6.3 in
Additional Product Features
Intended Audience
Scholarly & Professional
LCCN
2017-057917
Reviews
Advance praise: 'With unprecedented and exciting investigative research, Laurence M. Ball convincingly puts forth an important new view of the financial crisis, uncovering fundamental inconsistencies in the government's often-told story of its role in the Lehman Brothers bankruptcy and the panic of 2008. He shows that the Fed could have legally prevented the bankruptcy, but didn't do so either because of political concerns or a botched implementation of its game plan.' John B. Taylor, Mary and Robert Raymond Professor of Economics, Stanford University, Advance praise: 'With unprecedented and exciting investigative research, Larry Ball convincingly puts forth an important new view of the financial crisis, uncovering fundamental inconsistencies in the government's often-told story of its role in the Lehman Brothers bankruptcy and the panic of 2008. He shows that the Fed could have legally prevented the bankruptcy, but didn't do so either because of political concerns or a botched implementation of its game plan.' John B. Taylor, Mary and Robert Raymond Professor of Economics, Stanford University, Advance praise: 'Laurence M. Ball has produced a brilliant and riveting study of the most important moment of modern financial history: the failure of Lehman Brothers in September 2008. In a remarkably detailed and careful analysis Ball argues that decisions were driven by politics rather than sound policy. In short, this is a must-read masterpiece of financial and historical analysis.' Jeffrey Sachs, University Professor, Columbia University, New York, Advance praise: 'The official narrative of any crisis is not always the most accurate. Professor Laurence M. Ball's authoritative account of Lehman's demise debunks the Fed's narrative of the calamity and raises uncomfortable questions about the Fed's inconsistent use of its discretionary authority. This captivating book should be required reading for anyone with a stake in preventing the next financial collapse.' Athanasios Orphanides, Professor of the Practice of Global Economics and Management, Massachusetts Institute of Technology, Advance praise: 'Government failure to rescue Lehman Brothers investment bank, and its bankruptcy in September 2008, precipitated a monumental financial crisis. Laurence M. Ball combs through a mass of documents, and presents a new and quite disturbing perspective on the events. Some may disagree with his take, but it is a milestone in the historical analysis of the crisis.' Andrei Shleifer, Professor of Economics, Harvard University, Massachusetts, Advance praise: 'A monumental piece of scholarship that is essential for understanding the financial crisis of 2008 - and the Great Recession that followed. Meticulous, gripping, and compelling.' David Romer, Herman Royer Professor of Political Economy, University of California, Berkeley
Dewey Edition
23
TitleLeading
The
Illustrated
Yes
Dewey Decimal
332.660973
Table Of Content
1. Introduction; 2. The crisis of 2008; 3. The legal criteria for Fed assistance; 4. Lehman's balance sheet and solvency; 5. Lehman's liquidity crisis; 6. Lehman's collateral and the feasibility of liquidity support; 7. Fed discussions of collateral and liquidity support; 8. Fed actions that ensured Lehman's bankruptcy; 9. Possible long-term outcomes for Lehman; 10. How risky were the Fed's rescues of other firms?; 11. Who decided that Lehman should fail?; 12. Explaining the Lehman decision; 13. Conclusion; References; Endnotes; Index.
Synopsis
This book will interest scholars and practitioners in economics, finance, accounting and law; all areas in which the Lehman bankruptcy has been a major controversy. It will also appeal to a broad audience who care about the causes of the financial crisis and the role of the Federal Reserve's leaders., The bankruptcy of the investment bank Lehman Brothers was the pivotal event of the 2008 financial crisis and the Great Recession that followed. Ever since the bankruptcy, there has been heated debate about why the Federal Reserve did not rescue Lehman in the same way it rescued other financial institutions, such as Bear Stearns and AIG. The Fed's leaders from that time, especially former Chairman Ben Bernanke, have strongly asserted that they lacked the legal authority to save Lehman because it did not have adequate collateral for the loan it needed to survive. Based on a meticulous four-year study of the Lehman case, The Fed and Lehman Brothers debunks the official narrative of the crisis. It shows that in reality, the Fed could have rescued Lehman but officials chose not to because of political pressures and because they underestimated the damage that the bankruptcy would do to the economy. The compelling story of the Lehman collapse will interest anyone who cares about what caused the financial crisis, whether the leaders of the Federal Reserve have given accurate accounts of their actions, and how the Fed can prevent future financial disasters.
LC Classification Number
HG4930.5.B35 2018
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