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Broken bargain : bankers, bailouts, and the struggle to tame Wall Street / Kathleen Day

By: Resource type: Ressourcentyp: Buch (Online)Book (Online)Language: English Publisher: New Haven : Yale University Press, 2019Description: 1 Online-Ressource (xiv, 424 pages)ISBN:
  • 030024066X
  • 9780300240665
Subject(s): Additional physical formats: 9780300223323 | 030024066X. | 9780300240665. | Erscheint auch als: Broken bargain. Druck-Ausgabe New Haven : Yale University Press, [2019]DDC classification:
  • 332.0973
LOC classification:
  • HB3722
Online resources: Summary: Intro; Half Title; Title; Copyright; Dedication; Contents; Preface; Introduction; PART ONE: E PLURIBUS INC.; 1 The Danger and Necessity of Banks; 2 A Cheat upon Somebody; 3 Inc.; 4 The Civil War Tames Currency; 5 Sunshine Charlie; 6 Radio, Rayon, and Retail Credit; 7 If It Seems Too Good to Be True . . .; 8 Crash and Contagion; 9 Tickled with Poverty; 10 Moral Hazard; PART TWO: A WONDERFUL LIFE: SOCIALISM FOR THE RICH; 11 Zombie Banks; 12 The American Home: Safeguard of American Liberties; 13 Financial Cocaine; 14 Cover-Up and Bailout; 15 Russia Defaults; 16 The Committee to Save the WorldSummary: A history of major financial crises--and how taxpayers have been left with the bill†‹ In the 1930s, battered and humbled by the Great Depression, the U.S. financial sector struck a grand bargain with the federal government. Bankers gained a safety net in exchange for certain curbs on their freedom: transparency rules, record-keeping and antifraud measures, and fiduciary responsibilities. Despite subsequent periodic changes in these regulations, the underlying bargain played a major role in preserving the stability of the financial markets as well as the larger economy. By the free-market era of the 1980s and 90s, however, Wall Street argued that rules embodied in New Deal-era regulations to protect consumers and ultimately taxpayers were no longer needed--and government agreed. This engaging history documents the country's financial crises, focusing on those of the 1920s, the 1980s, and the 2000s, and reveals how the two more recent crises arose from the neglect of this fundamental bargain, and how taxpayers have been left with the billPPN: PPN: 1045461083Package identifier: Produktsigel: ZDB-4-EBA | ZDB-4-NLEBK | ZDB-4-EBU
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