Laurence Ball is Professor of Economics and Department Chair at Johns Hopkins University. He is also a Research Associate at the National Bureau of Economic Research and a consultant for the International Monetary Fund. He has previously been a Visiting Scholar at a number of central banks, including the Federal Reserve, the Bank of Japan, the Bank of England, and the Reserve Bank of New Zealand. His research topics include unemployment, inflation, and fiscal and monetary policy.
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.
發表於2025-01-08
The Fed and Lehman Brothers 2025 pdf epub mobi 電子書 下載
這本書講清楚瞭三件事:在當時的政策條件下,聯儲能不能閤法地 bail-out 雷曼?能,雷曼並不是嚴格的 insolvent,也有足夠的 collateral。聯儲有沒有嘗試一切辦法 bail-out?沒有,甚至還倒推一把逼雷曼宣布破産。聯儲為什麼不救?道德睏境,政治壓力,媒體報道,對後果的低估...
評分這本書講清楚瞭三件事:在當時的政策條件下,聯儲能不能閤法地 bail-out 雷曼?能,雷曼並不是嚴格的 insolvent,也有足夠的 collateral。聯儲有沒有嘗試一切辦法 bail-out?沒有,甚至還倒推一把逼雷曼宣布破産。聯儲為什麼不救?道德睏境,政治壓力,媒體報道,對後果的低估...
評分這本書講清楚瞭三件事:在當時的政策條件下,聯儲能不能閤法地 bail-out 雷曼?能,雷曼並不是嚴格的 insolvent,也有足夠的 collateral。聯儲有沒有嘗試一切辦法 bail-out?沒有,甚至還倒推一把逼雷曼宣布破産。聯儲為什麼不救?道德睏境,政治壓力,媒體報道,對後果的低估...
評分這本書講清楚瞭三件事:在當時的政策條件下,聯儲能不能閤法地 bail-out 雷曼?能,雷曼並不是嚴格的 insolvent,也有足夠的 collateral。聯儲有沒有嘗試一切辦法 bail-out?沒有,甚至還倒推一把逼雷曼宣布破産。聯儲為什麼不救?道德睏境,政治壓力,媒體報道,對後果的低估...
評分這本書講清楚瞭三件事:在當時的政策條件下,聯儲能不能閤法地 bail-out 雷曼?能,雷曼並不是嚴格的 insolvent,也有足夠的 collateral。聯儲有沒有嘗試一切辦法 bail-out?沒有,甚至還倒推一把逼雷曼宣布破産。聯儲為什麼不救?道德睏境,政治壓力,媒體報道,對後果的低估...
圖書標籤: 經濟 金融危機 ECONOMICS 英文 美聯儲
super amazing and very insightful. Lehman could have avoided bankruptcy with its collateral and access to the Fed Fund then but was intended to be bankrupt under political pressure and underestimation of the severity from Fed and Treasury. - They even demanded Lehman to go bankruptcy!
評分super amazing and very insightful. Lehman could have avoided bankruptcy with its collateral and access to the Fed Fund then but was intended to be bankrupt under political pressure and underestimation of the severity from Fed and Treasury. - They even demanded Lehman to go bankruptcy!
評分super amazing and very insightful. Lehman could have avoided bankruptcy with its collateral and access to the Fed Fund then but was intended to be bankrupt under political pressure and underestimation of the severity from Fed and Treasury. - They even demanded Lehman to go bankruptcy!
評分super amazing and very insightful. Lehman could have avoided bankruptcy with its collateral and access to the Fed Fund then but was intended to be bankrupt under political pressure and underestimation of the severity from Fed and Treasury. - They even demanded Lehman to go bankruptcy!
評分super amazing and very insightful. Lehman could have avoided bankruptcy with its collateral and access to the Fed Fund then but was intended to be bankrupt under political pressure and underestimation of the severity from Fed and Treasury. - They even demanded Lehman to go bankruptcy!
The Fed and Lehman Brothers 2025 pdf epub mobi 電子書 下載