"The authors of this book argue that post-war fiscal and monetary policies in the U.S. are prone to more frequent and more destabilizing domestic and international financial crises. So, in the aftermath of the one that erupted in 2008, they propose that now we are sleepwalking into another,...

This paper applies the theory of structured finance to the regulation of asset backed securities. We find the current regulation in Europe (Article 405 of the CRR) and the US (Section D of Dodd-Frank Act) to be severely flawed with respect to its key intention: the imposition of a strict loss...

The government's response to the financial crisis was dramatic, enormous, and unprecedented, and nothing about it has been overseen by the courts. In our federal system, the courts are supposed to put the policies of presidents and congresses to the test of judicial review, to evaluate decisions...

Quantitative characteristics of epic recession -- Qualitative characteristics of epic recession -- The dynamics of epic recession -- U.S. depressions in the nineteenth century -- 'Type I' epic recession : 1907-1914 -- 'Type II' epic recession : 1929-1931 -- The epic recession of 2007-2010 -- The...