resources to augment the private consumption of those investors facing losses. The anticipation of such a “bailout” distorts ex …

system; any preset resolution system will be abandoned for a bailout if it would produce socially unacceptable loss … done ad hoc through Congress or should bailout authority be institutionalized in an agency? And second, should creditors of … bailed out firms be forced to accept less than full payment (or take a “haircut”) as part of the bailout? Ensuring …

substitute to the unpopular bailout approach. This paper discusses some of its key potential shortcomings. It explains why bail …

We examine whether connected hedge funds (i.e. those that are prime-brokerage clients of bailout banks) benefited from … bailout programs initiated in seven countries during the 2007–2009 financial crisis. We find that being connected to a bailout … smaller during the post bailout period, for example, due to the greater risk-taking and higher leverage of such funds …

)-(d) thereof incorporated in Member States of the European Union (hereinafter the ‘EU'). This special ‘government bail-out regime …