Unfinished business : the unexplored causes of the financial crisis and the lessons yet to be learned

Cover page -- Halftitle page -- Title page -- Copyright page -- Dedication -- CONTENTS -- FIGURES -- ACKNOWLEDGEMENTS -- INTRODUCTION The Needle (and the Damage Done) -- The Needle -- The Damage Done -- What Went Wrong -- PART I ANATOMY OF THE NORTH ATLANTIC FINANCIAL CRISIS -- Chapter 1 EUROPEAN BANKS UNFETTERED -- The Road to Hell is Paved with Good Intentions -- Charting the Transformation of European Banking 1985-2002 -- The European Banking System in 2002 -- Chapter 2 US SHADOW BANKS UNLEASHED -- Inflation and the Rise of a Dual Banking System -- Bank Regulators Looking Under the Wrong Lamppost -- Investment Bankers Become Masters of the Universe -- Charting the Transforming US Financial System -- The US Financial System in 2002 -- Chapter 3 BOOM AND BUST -- Regulators and the Cross-Atlantic Financial Drift -- How the Basel Committee Encouraged Euro Area Mega-Banks -- Charting the Unsustainable North Atlantic Financial Boom -- Charting the North Atlantic Macroeconomic Boom and Bust -- Similar Macroeconomic Booms, Dissimilar Busts -- PART II MISDIAGNOSING THE NORTH ATLANTIC ECONOMY -- Chapter 4 A FLAWED MONETARY UNION -- Differing Visions of Monetary Union -- Jacques Delors and His Committee -- The Maastricht Treaty -- The Flawed Single Currency -- Chapter 5 INTELLECTUAL BLINKERS AND UNEXPECTED SPILLOVERS -- How The Efficient Markets Hypothesis undermined Bank Regulation -- The Great Moderation and Overestimation of Monetary Policy's Effectiveness -- How Benign Neglect Undermined International Policy Cooperation -- How Economic Models Distorted Policymaking -- Chapter 6 A HISTORY OF THE INTERNATIONAL MONETARY SYSTEM IN FIVE CRISES -- Why International Debt Flows Are So Skittish -- International Debt and Its Discontents -- Charting International Financial Crises -- Taming International Debt Flows -- PART III COMPLETING THE CURE.