AFA/ASE Panel: Implications of the Credit Crisis for the Regulation of Non-Bank Financial Firms
Stanford University - Graduate School of Business
Edward J. Kane
National Bureau of Economic Research (NBER); Boston College - Department of Finance
PIMCO Europe Ltd.
Azimuth Alternative Assets Management LLLP
August 26, 2008
AFA 2009 San Francisco Meetings Paper
Rock Center for Corporate Governance Working Paper No. 40
This panel session, prompted by the financial crisis of 2007-2008, focuses on issues related to the soundness and regulation of financial firms that are not necessarily traditional banks, at times of crises in financial stability. An example is the demise of Bear Stearns. The focus of the panel is not only what happened, but also what should have happened, or could have happened under other market and regulatory circumstances. Among the important changes that have already occurred are as the new liquidity and credit facilities of the Fed, and congressional action allowing direct and significant federal support to Fannie Mae and Freddie Mac. Additional changes have been suggested by Treasury blueprint for new financial regulation, and in statements by Fed officials, particularly Ben Bernanke and Tim Geithner.
Discussion among the panel and audience.
Number of Pages in PDF File: 1
JEL Classification: G1working papers series
Date posted: August 26, 2008 ; Last revised: September 29, 2009
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