{"product_id":"too-big-to-fail-gary-stern-ron-feldman-9780815703044","title":"Too Big to Fail | Gary H. Stern \u0026 Ron J. Feldman","description":"\u003ch2\u003eToo Big to Fail: The Hazards of Bank Bailouts | Gary H. Stern \u0026amp; Ron J. Feldman\u003c\/h2\u003e\n\u003cp\u003eThe potential failure of a large bank presents vexing questions for policymakers.\u003c\/p\u003e\n\u003cp\u003eIt poses significant risks to other financial institutions, to the financial system as a whole, and possibly to the economic and social order. Because of such fears, policymakers in many countries developed and less developed, democratic and autocratic respond by protecting bank creditors from all or some of the losses they otherwise would face. Failing banks are labeled \"\"too big to fail\"\" (or TBTF).\u003c\/p\u003e\n\u003cp\u003eThis important new book examines the issues surrounding TBTF, explaining why it is a problem and discussing ways of dealing with it more effectively.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eGary Stern\u003c\/strong\u003e and \u003cstrong\u003eRon Feldman\u003c\/strong\u003e, officers with the Federal Reserve, warn that not enough has been done to reduce creditors' expectations of TBTF protection. Many of the existing pledges and policies meant to convince creditors that they will bear market losses when large banks fail are not credible, resulting in significant net costs to the economy.\u003c\/p\u003e\n\u003cp\u003eThe authors recommend that policymakers enact a series of reforms to reduce expectations of bailouts when large banks fail.\u003c\/p\u003e","brand":"Bust-Down Books","offers":[{"title":"Default Title","offer_id":51559545405755,"sku":"081570304X","price":30.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0855\/2077\/7531\/files\/9780815703044.jpg?v=1786796678","url":"https:\/\/bustdownbooks.com\/products\/too-big-to-fail-gary-stern-ron-feldman-9780815703044","provider":"Bust-Down Books","version":"1.0","type":"link"}