In the years leading up to the crisis, there were a number of warning signs that signalled a breakdown of basic fiduciary soundness. The following article addresses the problem of inattention to those warning signs and calls into question the commonly proposed causes of the crisis. This paper...

With banking sectors worldwide still suffering from the effects of the financial crisis, public discussion of plans to place toxic assets in one or more bad banks has gained steam in recent weeks. The following paper presents a plan how governments can effi ciently relieve ailing banks from...