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Unfinished business: The unexplored causes of the financial crisis and the lessons yet to be learned

Economic and Financial Affairs
Date: Thursday, 28 September 2017 12:30 - 14:30

Venue: Bruegel  |  City: Saint-Josse-ten-Noode, Belgium

This event will feature a presentation by Tamim Bayoumi (IMF) of his upcoming book on the financial crisis. His presentation will be followed by comments by Aerdt Houben (De Nederlandse Bank).

Tamim Bayomi’s book: Unfinished Business: The Unexplored Causes of the Financial Crisis and the Lessons Yet to Be Learned book traces how under-regulated trading between European and U.S. banks led to the 2008 financial crisis–with a prescription for preventing another meltdown. He shows how the Euro crisis and U.S. housing crash were, in fact, parasitically intertwined.

Starting in the 1980s, Bayoumi outlines the cumulative policy errors that undermined the stability of both the European and U.S. financial sectors, highlighting the catalytic role played by European mega banks that exploited lax regulation to expand into the U.S. market and financed unsustainable bubbles on both continents. U.S. banks increasingly sold sub-par loans to under-regulated European and U.S. shadow banks and, when the bubbles burst, the losses whipsawed back to the core of the European banking system. A much-needed, fresh look at the origins of the crisis, Bayoumi’s analysis concludes that policy makers are ignorant of what still needs to be done both to complete the cleanup and to prevent future crises.

LIVESTREAM

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PROGRAMME


Please find here the programme for the event.

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Address
Rue de la Charité 33
1210 Saint-Josse-ten-Noode, Belgium

 

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  • Thursday, 28 September 2017 12:30 - 14:30

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