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- Title
REFORMING FINANCIAL REGULATION TO ADDRESS THE TOO-BIG-TO-FAIL PROBLEM.
- Authors
Wilmarth Jr., Arthur E.
- Abstract
The article surveys the consequences and causes of the current global financial crisis, which has caused governments worldwide to provide about 11 trillion dollars of assistance to financial institutions and to spend and to spend 6 trillion dollars on economic stimulus programs. It summarizes the basic causes of the crisis in the U.S. It proposes five regulatory reforms that are designed to eliminate public subsidies enjoyed by large, complex financial institutions (LCFIs).
- Subjects
UNITED States; GLOBAL Financial Crisis, 2008-2009; GOVERNMENT aid; REGULATORY reform; GOVERNMENT programs
- Publication
Brooklyn Journal of International Law, 2010, Vol 35, Issue 3, p707
- ISSN
0740-4824
- Publication type
Article