Description
The book does an excellent job of explaining the institutional setting of big dealer banks and how things went wrong in the financial crisis. The issues are important and the policy suggestions sound. There is nothing quite like this out there. -- Franklin Allen, University of Pennsylvania Darrell Duffie is one of the leading experts on the problem of large-bank failures. He focuses on issues not addressed elsewhere, but which are being talked about everywhere. This book scores in a big way. -- Viral V. Acharya, New York University
About the Author
Darrell Duffie is the Dean Witter Distinguished Professor of Finance at Stanford University's Graduate School of Business. He is the author of "Dynamic Asset Pricing Theory" and the coauthor of "Credit Risk: Pricing, Measurement, and Management" (both Princeton).
Reviews
"[T]his volume will give readers a deeper understanding of how modern banking works."--Choice "There are precious few manuals on global finance. To be sure, there are enough leaden textbooks and scholarly tomes to crush many a library, but there are few nuts-and-bolts guides. Darrell Duffie has performed a great service by attempting to explain in simple terms why and how major investment banks (what he calls 'dealer banks') collapse... How Big Banks Fail is ... a valuable addition to public literature on the global financial crisis."--Joel Campbell, International Affairs "This is a clear and readable account of the mechanisms and incentives at play."--Saxon Brettell, Business Economist "I highly recommend the book. I believe the text should be standard reading for anybody involved with regulating and supervising financial institutions as it offers valuable insights into the plumbing of financial markets and the mechanisms that can cause bank failures. The discussed mechanisms are thought provoking and can provide researchers and regulators with valuable ideas for future research on the financial system as well as banking regulation."--Jan Wrampelmeyer, Financial Markets and Portfolio Management
Book Information
ISBN 9780691148854
Author Darrell Duffie
Format Hardback
Page Count 112
Imprint Princeton University Press
Publisher Princeton University Press
Weight(grams) 255g