Restoring Financial Stability: How to Repair a Failed System

Acknowledgments.

Prologue: A Bird's Eye View.

The Financial Crisis of 2007-2009: Causes and Remedies By (Viral Acharya, Thomas Philippon, Matthew Richardson, and Nouriel Roubini).

Section I: Causes of the Financial Crisis of 2007-2009 By (Matthew Richardson).

Chapter 1: Mortgage Origination and Securitization in the Financial Crisis By (Dwight Jaffee, Anthony Lynch, Matthew Richardson and Stijn Van Nieuwerburgh).

Chapter 2: How Banks Played the Leverage “Game” By (Viral Acharya and Philipp Schnabl).

Chapter 3: The Rating Agencies Is Regulation the Answer By (Matthew Richardson and Lawrence White)?

Section II: Financial Institutions By (Matthew Richardson).

Chapter 4: What to Do About the Government Sponsored Enterprises By (Dwight Jaffee, Matthew Richardson, Stijn Van Nieuwerburgh, Lawrence White and Robert Wright)?

Chapter 5: Enhanced Regulation of Large Complex Financial Institutions By (Anthony Saunders, Roy Smith & Ingo Walter).

Chapter 6: Hedge Funds in the Aftermath of the Financial Crisis By (Stephen Brown, Marcin Kacperczyk, Alexander Ljungqvist, Anthony Lynch, Lasse Pedersen, and Matthew Richardson).

Section III: Governance, Incentives and Fair Value Accounting Overview By (Viral Acharya and Rangarajan Sundaram).

Chapter 7: Corporate Governance in the Modern Financial Sector By (Viral V. Acharya, Jennifer Carpenter, Xavier Gabaix, Kose John, Matthew Richardson, Marti Subrahmanyam, Rangarajan Sundaram, Eitan Zemel).

Chapter 8: Rethinking Compensation in Financial Firms By (Gian Luca Clementi, Thomas F. Cooley, Matthew Richardson, and Ingo Walter).

Chapter 9: Fair Value Accounting Policy Issues Raised by the Credit Crunch By (Stephen G. Ryan).

Section IV: Derivatives, Short-Selling and Transparency By (Viral Acharya).

Chapter 10: Derivatives The Ultimate Financial Innovation By (Viral Acharya, Menachem Brenner, Robert Engle, Anthony Lynch and Matthew Richardson).

Chapter 11: Centralized Clearing for Credit Derivatives By (Viral Acharya, Robert Engle, Stephen Figlewski, Anthony Lynch, and Marti Subrahmanyam).

Chapter 12: Short Selling By (Menachem Brenner and Marti G. Subrahmanyam).

Section V: The Role of the Fed By (Thomas Cooley and Thomas Philippon).

Chapter 13: Regulating Systemic Risk By (Viral Acharya, Lasse Pedersen, Thomas Philippon and Matthew Richardson).

Chapter 14: Private Lessons for Public Banking: The Case for Conditionality in LOLR Facilities By (Viral Acharya and David Backus).

Section VI: The Bailout By (Thomas Cooley and Thomas Philippon).

Chapter 15: The Financial Sector “Bailout” Sowing the Seeds of the Next Crisis By (Viral Acharya and Rangarajan Sundaram)?

Chapter 16: Mortgages and Households By (Andrew Caplin and Thomas Cooley).

Chapter 17: Where Should the Bailout Stop By (Edward I. Altman and Thomas Philippon)?

Section VII: International Coordination..

Chapter 18: International Alignment of Financial Sector Regulation By (Viral Acharya, Paul Wachtel and Ingo Walter).

NYU Stern Author Biographies.

Index.