Gambling with Other People's Money

How Perverse Incentives Caused the Financial Crisis

Business & Finance, Finance & Investing, Banks & Banking, Economics
Cover of the book Gambling with Other People's Money by Russ Roberts, Hoover Institution Press
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Author: Russ Roberts ISBN: 9780817921866
Publisher: Hoover Institution Press Publication: January 1, 2019
Imprint: Hoover Institution Press Language: English
Author: Russ Roberts
ISBN: 9780817921866
Publisher: Hoover Institution Press
Publication: January 1, 2019
Imprint: Hoover Institution Press
Language: English

What caused the Financial Crisis of 2008? While government mandates and private sector mistakes did contribute to the crisis and can be blamed at least in part for what happened, this book takes a different approach. Russ Roberts argues that the true underlying cause of the mess was the past bailouts of large financial institutions that allowed these institutions to gamble carelessly because they were effectively using other people's money. The author warns that despite the passage of Dodd-Frank, it is widely believed that we have done nothing to eliminate ‘Too Big to Fail.' That perception allows the largest financial institutions to continue to gamble with taxpayer money.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

What caused the Financial Crisis of 2008? While government mandates and private sector mistakes did contribute to the crisis and can be blamed at least in part for what happened, this book takes a different approach. Russ Roberts argues that the true underlying cause of the mess was the past bailouts of large financial institutions that allowed these institutions to gamble carelessly because they were effectively using other people's money. The author warns that despite the passage of Dodd-Frank, it is widely believed that we have done nothing to eliminate ‘Too Big to Fail.' That perception allows the largest financial institutions to continue to gamble with taxpayer money.

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