Book

Allison, John A., author.

The financial crisis and the free market cure : why pure capitalism is the world economy's only hope / John A. Allison.

New York : McGraw-Hill, [2013]

©2013

viii, 278 pages ; 24 cm

The Financial Crisis and the Free Market Cure argues against current financial regulations and proposes a cure to the economy's ills. John A. Allison presents the groundbreaking theory that capitalism is the only economic-political system that allows freedom of thought and rewards those who offer the most productive ideas, products, and services.

Global Financial Crisis, 2008-2009.

Capitalism.

Financial crises -- United States.

Financial services industry -- Law and legislation -- United States.

"How destructive banking reform is killing the economy"--Jacket.

Includes bibliographical references (pages 255-266) and index.

Fundamental themes -- What happened? -- Government monetary policy: the Fed as the primary cause -- FDIC insurance: the background cause -- Government housing policy: the proximate cause -- The essential role of banks in a complex economy: the liquidity challenge -- The residential real-estate-market bubble and financial-market stress -- Failure of the rating agencies: the subprime mortgage market and its impact on capital markets -- Pick-a-payment mortgages: a toxic product of FDIC insurance -- How Freddie and Fannie grew to dominate the home mortgage lending business -- Fair-value accounting and wealth destruction -- Derivatives and shadow banking: a misunderstanding -- The myth that "deregulation" caused the financial crisis -- How the SEC made matters worse -- Market corrections are necessary, but panics are destructive and avoidable -- TARP (Troubled Asset Relief Program) -- What we could have -- and should have -- done -- The cure for the banking industry: systematically move toward pure capitalism -- Some political cures: government policy -- Our short-term path and how to end unemployment -- The deepest cause is philosophical -- The cure is also philosophical -- How the United States could go broke -- The need for principled action.

Contributor biographical information

Publisher description

2012538518

9780071806770

0071806776

0071806784

795175470

1

0

1

340955

1

1

330.122 Allison