Bankruptcies, bailouts and the banking bureaucracy: The Bush agenda and the capacity for crisis

Forum

Volumn 7, Issue 4, 2010, Pages

  Khademian, Anne ^a  

^a VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY   (United States)

Author keywords

Bureaucratic capacity; Bush Administration; Crisis; Financial regulatory bureaucracy

Indexed keywords

EID: 77249094225     PISSN: None     EISSN: 15408884     Source Type: Journal    
DOI: 10.2202/1540-8884.1339     Document Type: Article

References (64)

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35. Despite the major bankruptcies, thrift-based subprime lending has traditionally been a small percentage of the overall subprime lending. See the comments by Governor Gramlich, ibid.
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48. Anne Khademian. 2002. "The Securities and Exchange Commission: A Small Regulatory Agency with a Gargantuan Challenge." Public Administration Review 62 (5): 515
49. The SEC received this authority in 2002 with passage of the Investors and Capital Markets Fee Relief Act (Pay Parity Act). For more details see, US Securities and Exchange Commission. 2002. Pay Parity Implementation: Plan and Report. Available on the Web at: http://www.sec.gov/news/studies/payparity.htm
50. Spencer S. Hsu and Terence O'Hara. 2005. "FDIC Chairman to Oversee Storm Recovery." Washington Post, November 2, 2005. Available on the Web at: http://www.washingtonpost.com/wp-dyn/content/article/2005/11/01/ AR2005110100850.html
51. FDIC Annual Reports, 2001 - 2005. Tables "FDIC Examinations" and "Liquidation Highlights."
52. Rob Blackwell. 2001. "It's Official: Bush Nominates Powell As FDIC Chairman," American Banker, April 19. Available on the Web at: http://www.highbeam.com/doc/1G1-73392527.html
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55. Ryan Lizza. 2009. "The Contrarian: Sheila Bair and the White House Financial Debate." The New Yorker. Available on the Web at: http://www.newyorker.com/reporting/2009/07/06/090706fa-fact-lizza
56. John Dugan. 2008. Remarks before the Enterprise Annual Network Conference (November 18): Available on the Web at: http://www.occ.treas.gov/ftp/release/ 2008-136a.pdf; John Dugan
57. See OCC Annual Reports, 2005 - 2008. Available on the Web at: http://www.occ.treas.gov/annrpt/annual.htm
58. Paul Krugman's book, The Return of Depression Economics and the Financial Crisis of 2008, (WW Norton 2008) details the shadow banking system, or a parallel system that is less regulated with loose capital standards and more opportunity for risk taking. The ways in which the recent regulatory responses and bailouts have assisted this alternative system-absorbed much of the risk that was supposed to define this system-is discussed by Russ Roberts in a January 22, 2009 posting on Café Hayek, available on the Web at: http://cafehayek.com/2009/01/the-shadow-banking-system.html, as well as other blog and web sites.
59. The Emergency Economic Stabilization Act of 2008, PL 110-343.
60. Chairman Ben S. Bernanke. 2008. "Federal Reserve Policies in the Financial Crisis," Remarks at the Greater Austin Chamber of Commerce, Austin, Texas, December 1, 2008. Available on the Web at: http://www. federalreserve.gov/newsevents/speech/bernanke20081201a.htm
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