Restoring Financial Stability: How to Repair a Failed System

New York University Stern School of Business

An insightful look at how to reform our broken financial system

The financial crisis that unfolded in September 2008 transformed the United States and world economies. As each day′s headlines brought stories of bank failures and rescues, government policies drawn and redrawn against the backdrop of an historic Presidential election, and solutions that seemed to be discarded almost as soon as they were proposed, a group of thirty–three academics at New York University Stern School of Business began tackling the hard questions behind the headlines. Representing fields of finance, economics, and accounting, these professors–led by Dean Thomas Cooley and Vice Dean Ingo Walter–shaped eighteen independent policy papers that proposed market–focused solutions to the problems within a common framework. In December, with great urgency, they sent hand–bound copies to Washington. Restoring Financial Stability is the culmination of their work.

Restoring Financial Stability: How to Repair a Failed System