Acharya, Viral V.; Cooley, Thomas; Richardson, Matthew; … - East Asian Bureau of Economic Research (EABER) - 2011
The paper analyzes the financial crisis of through the lens of market failures and regulatory failures. We present a …-big-to-fail status got anchored. We propose specific reforms to address the four market and regulatory failures we identify, and we … banking sector that eventually threatened to bring down the entire financial sector. In emphasizing the role of regulatory …