High praise for Lessons Not Learned from Jerry Caprio, former World Bank Director for Financial Sector policy: “In a time of mind-boggling complexity in financial regulation -- too complex, according to Ben Bernanke, for the Federal Reserve System to understand its impact -- Lessons Not Learned is a refreshing call to return to a simpler, more basic approach. Susanne Trimbath emphasizes that the failure to implement regulations, a key factor in the crisis of 2008, remains the system's Achilles heel. This book features a refreshing combination of research grounding and pragmatic experience. A must read for taxpayers and their representatives!” ……………………………..
Lessons Not Learned: Systemic Failure in US Capital Markets
In this new book, Dr. Trimbath examines the systemic failure in US capital markets. She demonstrates that a prudent regulatory framework could have prevented the systemic failure in the United States that led to the collapse of global credit markets in 2008. By ignoring the proven theoretical and practical value of the 10 steps, the world’s leading industrialized nations wrecked havoc on the global economy.
For each step the reader will find: • Legislative and regulatory background on the existing rules; • A review of academic research on the theory behind each step; • The facts and data connecting each step to the events of 2008.
Specialization is the Way Forward: The final step offers hope for the future stability of global capital markets: Specialization. It is an old idea, one that has withstood the test of time. But like the other nine, it is a forgotten lesson. The post-capitalist society has arrived and financial institutions need to catch up. As management guru Peter Drucker wrote 15 years before the 2008 crisis: “Organizations can only do damage to themselves and to society if they tackle tasks that are beyond their specialized competence.” The successful financial institutions of the future will heed the lessons of comparative advantage and reap the economic gains from specialization.
If regulators have not taken heed of the lessons in this book by the time you read it, then you can use the lessons to understand the pitfalls that await investors as the same financial players act out in the unchanged system. This book serves as a compilation of research into the various elements of global financial innovation that caused the crisis of 2008 – and may well cause the collapse of 2016. …………………………….. Read an excerpt now from Spiramus Press (London)
STP Working Paper Series
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2013_02 Calculating the Real Economic Payoff of Infrastructure
2013_01 Systemic Failure in US Capital Markets: Lessons Not Learned
2011_02 Economic Infrastructure – Building Prosperity
2011_01 Transportation Infrastructure: Paving the Way
2010_02 The Role of Infrastructure in Economic Prosperity
2010_01 The Economic Importance of Transportation Infrastructure
2009_01 Homeowner Affordability: Fallen Off the Tripod, with Juan Montoya