chapter 1 Introduction -- chapter 2 About HBOS -- chapter 3 The Politics of Risk Management -- chapter 4 The Chemistry of Audit Failure -- chapter 5 Regulatory Failure -- chapter 6 Findings and Implications for Finance Teaching and Research.

We look at a wide range of national and international crises to identify banks' exposures to losses during banking crises. We find that banks generally sustain greater losses on corporate loans than on household loans. Even after sharp falls in house prices, losses on household loans were often...

"Does too much competition in banking hurt society? What policies can best protect and stabilize banking without stifling it? Institutional responses to such questions have evolved over time, from interventionist regulatory control after the Great Depression to the liberalization policies that...