"In the years since the subprime financial crisis of 2007-2011, we have learned a number of important lessons about the crisis, and have subsequently applied appropriate legislation, such as increased capital ratios and systematic stress testing, in order to combat it. However, it would be naive...

"In late 2008, the world's financial system was teetering on the brink of systemic collapse. While the impacts of the global financial crisis would be felt immediately, at every level of the economy, it would also send years-long aftershocks through investment, banking and regulatory circles...

'There was a world BC (Before Crisis) and there will be a world AD (After Deleveraging) the challenge is to create an effective, efficient yet stable and sustainable financial system for this "new world". This book provides the most comprehensive and thought-provoking basis for action I have...