The Keynote Papers and the Current Financial Crisis

9 Pages Posted: 29 Apr 2009

See all articles by John C. Coates, IV

John C. Coates, IV

Harvard Law School; European Corporate Governance Institute (ECGI)

Abstract

One hesitates to write history as it happens, or to draw policy lessons from current events. The conference took place in May 2008 - after the government-assisted takeover of Bear Stearns but before a capital market downturn fueled a system-wide liquidity crisis, with successive insolvencies at IndyMac, Fannie Mae, Freddie Mac, Lehman, AIG, WaMu, and, as I write, Citigroup. But it would be odd to comment on capital market regulation without mentioning the events of the last three months. I am first to acknowledge that anything I might have written in May would not have foreseen the crisis or linked capital market regulation to financial institutions, which in the US have been conventionally treated as discrete in discourse and institutions (e.g., U.S. Treasury 2008; Leuz and Wysocki 2008).

JEL Classification: G18, G38, G21, G24

Suggested Citation

Coates, John C., The Keynote Papers and the Current Financial Crisis. Available at SSRN: https://ssrn.com/abstract=1394637 or http://dx.doi.org/10.1111/j.1475-679X.2009.00328.x

John C. Coates (Contact Author)

Harvard Law School ( email )

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Cambridge, MA 02138
United States

European Corporate Governance Institute (ECGI) ( email )

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Belgium

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