Comment on the 2011 Wincott Lecture, ‘Control Rights (and Wrongs)’

Abstract:     
Over a long period leading up to the current financial crisis, small banks within a small banking system were replaced by unsafe, large banks within a huge banking system. The banks have now grown so big and so dangerous that they have the capacity to wreck economies and bring down governments.

Number of Pages in PDF File: 4

Keywords: banking, corporate governance, debt‐financing, financial crisis, rent extraction, returns on equity, risk management, taxation

Accepted Paper Series