Too Big to Fail, Too Blind to See
Tom C. W. Lin
Temple University - James E. Beasley School of Law
April 16, 2012
80 Mississippi Law Journal 355 (2010)
Too Big to Fail by Andrew Ross Sorkin offers a meticulous re-telling of one of the most important periods in recent history. As regulators, bankers, lawyers, scholars, and other interested parties sift through the rubble in search of knowledge about the crash, Too Big to Fail serves both as a chronicle of the recent past and a cautionary tale for the immediate future. Acknowledging past missteps, uncovering root causes, and correcting systemic shortcomings to prevent similar failure is arguably the key economic and regulatory challenge of our time. Part I of this Essay summarizes key episodes of the financial crisis as covered by Too Big to Fail. Part II examines a potential explanation of the crisis unexplored in the book in light of the decline of neoclassical economic theory and the emergence of behavioral economic theory.
Number of Pages in PDF File: 21
Keywords: financial crisis, too big to fail, behavioral finance, systemic risk, book review, corporate law, corporate governance
Date posted: April 19, 2012 ; Last revised: October 8, 2013
© 2015 Social Science Electronic Publishing, Inc. All Rights Reserved.
This page was processed by apollo1 in 0.312 seconds