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