«International Financial Crisis: Consequences for Banking Regulation and Monetary Policy»
«The Financial Crisis and the Limits of Government Intervention»
Speech by Manfred J.M. Neumann (in German)
Research professor at the Research Centre of the Deutsche Bundesbank
In this speech, I will first briefly and relatively summarily address the causes of the international financial market crisis and then turn to the main question of what can be done to restore the functioning of the banking system and take precautions to ensure that such a severe financial crisis as we are currently experiencing does not occur again so easily.
Here you can find the full text of the speech as PDF:
Referat von William F. Ford
Former President and Chairman of the Board of the Federal Reserve Bank of Atlanta
Nowadays, almost all informed participants in the global financial markets have heard and read about the trillions of dollars worth of so-called “toxic assets”, emanating from Wall Street and distributed through other financial centers, which have contaminated the balance sheets of financial institutions throughout the world, including here in Switzerland. It is also generally understood that the most toxic ingredients in those asset packages are the so-called “subprime” and “Alt-A” mortgages (a.k.a. “liar loans”), created, packaged and distributed mainly by U.S. financial institutions. It may be useful, therefore, to begin our search for root causes of the global financial crisis with a brief review of the historical evolution of the U.S. housing and mortgage markets that gave rise to the flood of toxic assets which now contaminate the world’s financial markets.
Here you can find the full text of the speech as PDF:
