Analysis of the current financial/economic crisis from the Director of the Banking Sector at the FSA (Financial Services Authority). New edition updated to take account of changes in regulation and legislation in the US, EU and UK. Many of these changes were in line with the recommendations made in the original edition
The current crisis is emerging as the most severe downturn since the Great Depression. This book examines its cause, the efforts to contain the crisis and proposes a cure that will limit the risk that such crises could recur in the future.
Financial Crisis Containment and Government Guarantees
ÔThis enlightening volume provides an invaluable guide for those perplexed by the seemingly intractable problems of financial crises, sovereign distress, and government guarantees. Contributors include an all-star cast of leading figures in the field. Highly recommended.Õ Ð Geoffrey Miller, New York University, US ÔThe history of the 2007Ð09 and possibly beyond near-global financial crisis needs to be examined carefully in order to identify and understand the causes, the transmission across countries, the harm to macroeconomies, the public policies adopted, the effectiveness of such policies, and the lessons to be learned to prevent or at least mitigate future such crises. This volume contributes to this task. It brings together under one cover the analyses of the various aspects of the crisis by experts in each area. It should be priority reading for serious students of the crisis.Õ Ð George G. Kaufman, Loyola University Chicago, US ÔThe combination of the skills of the lawyer and of the economist has proved increasingly fruitful, developing both understanding and policy in many areas of life, such as accident prevention, crime prevention, and healthcare. This book follows the precedent of these areas and assembles a group of lawyers and economists who by their contributions, consider how best to deal with financial crises, and how to make their future occurrence less likely. It is both intellectually stimulating and practically important. The authors and editors are to be congratulated.Õ Ð Geoffrey Wood, Cass Business School and University of Buckingham, UK Financial Crisis Containment and Government Guarantees analyses the international communityÕs commitment to forging enhanced, well thought-out, mechanisms for containing systemic risks in the context of a highly interconnected global financial framework which incorporates ongoing financial innovation. While use of government guarantees is a central theme, the book also analyses the roles played by prudential regulators, central banks, deposit insurers and treasuries in dealing with the crisis. The book examines how governments, central banks, regulators and deposit insurance agencies have worked together to contain the global financial crisis. Additionally, it focuses on efforts to overcome ongoing obstacles, as well as the most important proposals to improve safety nets, both at the national level and internationally. This concise and detailed book will strongly appeal to students in law, economics and finance, law practitioners, policymakers in central banks and ministries of finance, as well as deposit protection agencies and regulatory agencies.
The First Great Financial Crisis of the 21st Century
"Although there have been numerous studies of the causes and consequences of the Great Financial Crisis of 2007–2010 in the US and abroad, many of these were undertaken only for a small number of countries and before the financial and economic effects were fully realized and before various governmental policy responses were decided upon and actually implemented. This book aims to fill these voids by providing a more thorough assessment now that the worst events and the regulatory reforms are sufficiently behind us and much more information about these developments is available. It reviews and analyzes the causes and consequences of and the regulatory responses to the Great Financial Crisis, particularly from a public policy viewpoint. In the process, it explores such intriguing questions as: What caused the crisis? How did the crisis differ across countries? What is the outlook for another crisis, and when? This is a must read for those who are trying to find answers to these questions."--$cProvided by publisher.
Banks are entering a new environment. Regulation and supervision are becoming tougher, so that banks will be less likely to fail. If a bank does fail, bail-in rather than bail-out will be the new resolution regime, so that investors, not taxpayers, bear loss. Safe to Fail sums up the challenges that banks will face and how they can meet them.
As alarming stories about new pathogens like the Ebola virus or Mad Cow Disease fill today's headlines, scientists face a test of their abilities to contain them. But public health officials face a crisis of their own, because even when effective treatments become available, efforts to control disease often fall short. "After the Cure" was written to improve the prospects for effective management of AIDS and other public health crises. Martin Levin and Mary Bryna Sanger draw on cases of previous large-scale public health initiatives to show how management effectiveness can meet threats to public health. Focusing on AIDS as the most compelling contemporary example of the need for change, the authors advocate a commonsense approach that seeks to minimize the chances of failure. They encourage health officials to exercise "strategic skepticism" by developing plans that anticipate potential problems-such as scientific controversy over a vaccine's effectiveness or media sensationalism-which could arise from flaws in program design and implementation. Case studies involving polio, swine flu, childhood immunization, reemergent TB, and the early AIDS experiences demonstrate the variety of managerial problems that can confront such initiatives. By reviewing the lessons of these cases, the authors suggest how their approach can be applied to the management of AIDS and future public health threats. They then present both a critique of the early mismanagement of the AIDS crisis and a scenario for "the day after an AIDS vaccine is discovered." Because epidemics are likely to increase, "After the Cure" clearly demonstrates the importance of anticipating obstacles to their management through skillful scenario writing. Combining careful analysis with practical advice, it shows that in the public health arena, management matters as much as medicine.
The Computer Incident Response Planning Handbook Executable Plans for Protecting Information at Risk
Uncertainty and risk, meet planning and action. Reinforce your organization’s security posture using the expert information contained in this tactical guide. The Computer Incident Response Planning Handbook: Executable Plans for Protecting Information at Risk shows you how to build and manage successful response plans for the cyber incidents that have become inevitable for organizations of any size. Find out why these plans work. Learn the step-by-step process for developing and managing plans built to address the wide range of issues organizations face in times of crisis. Contains the essentials for developing both data breach and malware outbreak response plans—and best practices for maintaining those plans Features ready-to-implement CIRPs—derived from living incident response plans that have survived the rigors of repeated execution and numerous audits Clearly explains how to minimize the risk of post-event litigation, brand impact, fines and penalties—and how to protect shareholder value Supports corporate compliance with industry standards and requirements, including PCI, HIPAA, SOX, and CA SB-24