Reinventing Financial Regulation offers an analysis of the fundamental flaws that plague the current system of financial regulation, one built around ideas of "risk-sensitivity" and "capital adequacy." Author Avinash Persaud argues that while some sensible reforms have been introduced, a fresh approach—centered on risk capacity—is required. When the entire regime is compromised, simply slapping bandages on each new wound will do nothing to cure the underlying disease.
Reinventing Financial Regulation goes beyond an urgent call to fix our profoundly troubled and damaged financial markets. It is a blueprint for an effective financial regulation system that could very well save the future of finance.
What would a well-regulated financial system look like? Until now, policymakers, financial experts, and leading academics have been content to avoid facing this question head–on. We have been offered piecemeal reforms that ultimately leave the global financial system exposed to different versions of the same risks that so recently brought it to its knees. The world economy literally cannot afford to dodge this question any longer.
Persaud's goal to bring clarity and a powerful simplicity to the financial regulation process results in a systematic and apolitical framework for fixing the world's fractured financial industry and transforming its regulation—not just for today's financial climate, but once and for all.
Table of Contents
- Apress Business
- About the Author
- Chapter 1: Reinventing Financial Regulation
- Chapter 2: Why Do We Regulate Finance?
- Chapter 3: What Causes Financial Crashes
- Chapter 4: Why Taxpayers Need to Be on the Hook
- Chapter 5: How Should We Regulate the Financial System?
- Chapter 6: Putting the New Framework to the Test
- Chapter 7: Protecting Consumers
- Chapter 8: How Accounting, Credit, and Risk Standards Create Risk
- Chapter 9: What to Do About Complex Financial Instruments
- Chapter 10: Bankers’ Pay
- Chapter 11: Why Locking Them Up Will Not Work
- Chapter 12: Financial Transaction Taxes
- Chapter 13: The Shape of Financial Regulation
- Chapter 14: The Locus of International Financial Regulation
- Appendix A: Sending the Herd Off the Cliff Edge
- Appendix B: Banks Put Themselves at Risk at Basel
- Other Apress Titles You Will Find Useful
- Title: Reinventing Financial Regulation: A Blueprint for Overcoming Systemic Risk
- Release date: June 2015
- Publisher(s): Apress
- ISBN: 9781430245582