There was a systemic failure of financial regulation: senior policymakers repeatedly enacted and implemented policies that destabilised the global financial system. They maintained these policies even as they learned of the consequences of their policies during the decade before the crisis. The...

Financial regulators and politicians unsuccessfully maintained the safety and soundness of the U.S. financial system not only because they lacked the proper tools but also because they lacked the proper incentives. While filling regulatory gaps and improving supervisory tools are worthwhile...

Introduction -- Regulating finance is hard to do -- Incentives run amok -- How U.S. regulators encouraged the financial crisis -- American crisis? Ain't necessarily so -- Been down this road many times before -- More of the same: post 2007-2009 financial crisis regulation -- Making the guardians...

Intro -- Contents -- Preface -- Acknowledgments -- Chapter 1. Introduction -- An Accident? -- This Book -- Financial Regulation Matters -- Some Final Introductory Remarks -- Road Map -- Chapter 2. Regulating Finance Is Hard to Do -- Introduction -- Shareholders versus Debt Holders: The Essence...