How to avoid taxpayers paying for bank failures and banking crises? This book provides a proposal and a critique by twelve independent experts. It is addressed particularly to the threat posed in Europe by having large international banks, a history of bailouts and limited means of resolving any...

Introduction : our message and methods -- What is the problem? -- Why protection is costly -- How pervasive is TBTF? -- Why protect TBTF creditors? -- The growth of TBTF protection -- Testing our thesis : the cases of not too big to fail -- Can the problem be addressed? -- Creating the necessary...

The Squam Lake Report (SLR) contains a host of recommendations to "fix the financial sector." A credible fix must take on the excessive risk-taking of financial institutions created when uninsured creditors of important financial institutions expect government protection from loss (i.e., the...