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Bringing Down the Banking System : Lessons from Iceland
Author
Title
Bringing Down the Banking System : Lessons from Iceland.
ISBN
113735819X
9781137358196
113734735X
9781137347350
9781306409582
1306409586
9781349471058
1349471054
Published
New York : Palgrave Macmillan, 2014.
Physical Description
1 online resource.
Local Notes
Access is available to the Yale community.
Access and use
Access restricted by licensing agreement.
Summary
The combined collapse of Iceland's three largest banks in 2008 is the third largest bankruptcy in history and the largest banking system collapse suffered by any country in modern economic history, relative to GDP. How could tiny Iceland build a banking system in less than a decade that proportionally exceeded Switzerland's? Why did the bankers decide to grow the system so fast? How did businesses tunnel money out of the banking system? And why didn't anybody stop them? "Bringing Down the Banking System" answers these questions. Gudrun Johnsen, Senior Researcher with Iceland's Special Investigation Commission, tells the riveting story of the rise and fall of the Icelandic banking system, describes the commission's findings on the damaging effects of holding company cross-ownership, and explains what we can learn from it all.
Variant and related titles
Palgrave Economics & Finance collection 2014.
Other formats
Print version:
Format
Books / Online
Language
English
Added to Catalog
April 19, 2018
Contents
Background
Illusion of prosperity
Collapse
August 8, 2007 : subprime crisis enters the spotlight
October 6, 2008 : God bless Iceland
Panic
Investigation
Financial liberalization
How did the bankers do it?
Funding the banks
The geyser crisis
Love letters to the rescue
Playing tricks on the European Central Bank
Why did the bankers do it?
The web of ownership
Tunneling money through related party lending
Market manipulation and falsification of equity
Wages of failure
Why didn't anybody stop the bankers?
Funded by the ill-informed
Debt free state, isolated and without credit
Putting a poodle on the watch
What have we learned?
Subjects
Genre/Form
History.
Also listed under
Palgrave Connect (Online service)
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