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AFA/ASE Panel: Implications of the Credit Crisis for the Regulation of Non-Bank Financial FirmsDarrell DuffieStanford University - Graduate School of Business Edward J. KaneBoston College - Department of Finance; National Bureau of Economic Research (NBER) Paul McCulleyPIMCO Europe Ltd. David ModestAzimuth Alternative Assets Management LLLP August 26, 2008 AFA 2009 San Francisco Meetings Paper Rock Center for Corporate Governance Working Paper No. 40 Abstract: 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: G1 working papers seriesDate posted: August 26, 2008 ; Last revised: September 29, 2009Suggested CitationContact Information
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