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February 27, 2013

Bankers Should Stop Whining About Costs of Equity: Books

Anat Admati and Martin Hellwig are academics with a gift for taking the mind-numbing minutiae of banking and presenting it in a way that the average reader can understand.

One by one, the self-serving protests of the banking industry against tougher regulations are lined up and struck down in “The Bankers’ New Clothes.”

You know what they are: Stringent U.S. laws will send customers fleeing to countries known for light-touch regulation. High capital requirements for banks will trigger a credit crunch. And so on.

The authors map out the regulatory flaws that make it easy for debt-junkie bankers to get rich when times are good, and leave them hanging around protesting when times are worse thanks to their own recklessness.”

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Read Susan Antilla’s full review of “Bankers’ New Clothes” here

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