Who pays for bank insolvency / [edited by] David G. Mayes and Aarno Liuksila with Thorsten Beck [and others].
"In most countries taxpayers end up paying for bank failures and banking crises even though they are innocent of the cause. This book suggests how something can be done about this, so that problems can be resolved quickly when banks get into difficulties. Shareholders and uninsured creditors wh...
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| Other Authors: | , |
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| Format: | Book |
| Language: | English |
| Published: |
Houndmills [England] ; New York :
Palgrave Macmillan,
2004.
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| Subjects: |
| Summary: | "In most countries taxpayers end up paying for bank failures and banking crises even though they are innocent of the cause. This book suggests how something can be done about this, so that problems can be resolved quickly when banks get into difficulties. Shareholders and uninsured creditors who are paid for taking risks would bear any losses. No one is worse off than under insolvency." "Political pressures and the constraints of the legal system prevent suitable solutions in most countries outside the USA. The problem is particularly bad in Europe, where multinational banks are large compared with the size of the countries in which they operate. Coordination processes for solving problems in a hurry are inadequate. Banks may not be just 'too big to fail' but also 'too big to save' - a small country cannot afford the costs of remedial action alone."--BOOK JACKET. |
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| Physical Description: | xiii, 390 pages : illustrations ; 23 cm |
| Bibliography: | Includes bibliographical references (pages 373-380) and index. |
| ISBN: | 140391740X 9781403917409 |