We recently experienced a global financial crisis so severe that only massive rescue operations by governments around the world prevented a total financial market meltdown and perhaps another global Great Depression. One necessary precondition for the crisis was the perverse, bonus-driven...

The billionaire borrowers: private equity and leverage buyouts -- From "gaga" to google : the shepherds of business from infancy to infamous : venture capital and entrepreneurship -- The billion dollar brokers of investment banking -- The million dollar analysis of management consulting --...

Even though the sector of Non-bank financial intermediaries (NBFI) or shadow banks represent a large part of the contemporary financial system, these institutions received almost no attention in macroeconomic studies so far. Their presence has significant influence on the conduct of monetary...