Profound structural flaws in the usus financial system that helped cause the financial crisis

Economic and Political Weekly

Volumn 44, Issue 13, 2009, Pages 127-135

  Crotty, James ^a  

^a UNIVERSITY OF MASSACHUSETTS   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 67650409692     PISSN: 00129976     EISSN: None     Source Type: Journal    
DOI: None     Document Type: Article

References (18)

1. Bank of England (2008): "Financial Stability Report", April
2. Chacko, George, Anders Sjoman, Hideto Motohashi and Vincent Dessain (2006): Credit Derivatives (Philadelphia: Wharton School)
3. Bookstabber, Richard (2007): A Demon of Our Own Design: Markets, Hedge Funds, and the Perils of
4. Financial Innovation (Hoboken, New Jersey: John Wiley & Sons)
5. Das, Satyajit (2006): Traders, Guns and Money: Knowns and Unknowns in the Dazzling World of Derivatives (Harlow: Prentice Hall)
6. Crotty, James (2007): "If Financial Market Competition Is So Intense, Why are Financial Firm Profits So High? Reflections on the Current 'Golden Age' of Finance", Political Economy Research Institute (PERI), Working Paper No 134, April. Available at www.peri.umass.edu
7. -(2008): "Structural Causes of the Global Financial Crisis: A Critical Assessment of the 'New Financial Architecture'", Political Economy Research Institute (PERI), Working Paper No 180. Available at www.peri.umass.edu
8. Crotty, James and Gerald Epstein (2009): "Avoiding Another Meltdown", Challenge, Vol 52, No 1, January-February, 5-26
9. DiNapoli, Thomas (2009): "Wall Street Bonuses Fall 44% in 2008", Office of the New York State Comptroller, 28 January
10. Ferguson, Niall (2008): "The Age of Obligation", Financial Times, 19 December
11. Fitch Ratings (2007): "CDx Survey: Market Volumes Continue Growing While New Concerns Emerge", 16 July, 1-16. Available at www.fitchratings.com
12. Geithner, Timothy (2008): "Comments by New York Fed President Timothy Geithner", Wall Street Journal, 30 May
13. Haldane, Andrew (2009): "Why Banks Failed the Stress Test", Speech at Marcus-Evans Conference on Stress-Testing, 13 February
14. International Monetary Fund (2009): "Global Financial Stability Report Update", 28 January
15. Partnoy, Frank (2003): Infectious Greed (New York: Times Books)
16. Richardson, Matthew and Noriel Roubini (2009): "Nationalise the Banks! We're all Swedes Now", Washington Post, 15 February
17. Roubini, Noriel (2008): "How Will Financial Institutions Make Money Now that the Securitization Food Chain Is Broken?", http://www.rgemonitor. com/blog/roubini/, 19 May
18. Volcker, Paul (2008): "Speech to the Economic Club of New York", 8 April. Available at: econclubny.org/files/Transcript-Volcker- April-2008.pdf.