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APR 26, 2013 - New Statesman

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Reviewed: The Bankers’ New Clothes by Anat Admati and Martin Hellwig

Profits of doom.The Bankers’ New Clothes: What’s Wrong with Banking and What to Do About It Anat Admati and Martin Hellwig Princeton University Press, 392pp, £19.95 The Federal Reserve and the Financial Crisis Ben S Bernanke Princeton University Press, 144pp, £13.95 Historians will not be forgiving of the past 30 years. Western governments, with Britain in the vanguard, indulged an explosion in bank balance sheets supported by declining levels of equity and by borrowing that ran into many trillions of dollars, euros and pounds. This created a long and apparently ... Read More

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