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Managing the Expanded Safety Net: A Reprint from the Federal Reserve Bank of Minneapolis 2007 Annual Report
Explains why the government’s response to the 2007

 
Our Price: $10.00
By Gary H. Stern (au); Ron J. Feldman (au)
Year: 2008
Pages: 7
Binding Paperback

Product Code: 1437906494

Description
 
Explains why the government’s response to the 2007-08 financial turmoil, although justified, expanded the safety net and exacerbated the too big to fail (TBTF) problem. A larger TBTF problem is costly, having the capability to sow the seeds of future financial crises. Therefore, we should begin now to develop a new approach to manage TBTF. Their recommendations to address TBTF would effectively address the safety net expansion and position policymakers to respond more effectively to “the next Bear Stearns.” They explain their recommendations in terms of their relevance in today’s environment. Concludes with excerpts from their 2004 book, “Too Big To Fail: The Hazards of Bank Buyout,” which summarize their arguments in more detail.

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