The financial system still has not been fixed and remains dangerous and fragile, says Anat Admati of Stanford University and Martin Hellwig from the University of Bonn in their book The Bankers’ New Clothes: What's Wrong with Banking and What to Do about It. Banks remain too highly leveraged and debt is addictive. But the system can still be fixed, they argue.
Anat Admati and Martin Hellwig speak at the Peterson Institute and discuss whether banking reforms require the sacrifice of lending and economic growth. They outline an ambitious proposal to shore up financial systems and prevent future financial crisis.
Read a review in Finance & Development magazine
Admati exposes the flaws in the banking system that could trigger another financial collapse, and lays out a plan to fix it. She speaks her to Stanford Business.
Report card on global financial reform.