Sorry, Our Banks Are Still Broken

Anat Admati Diagnoses Our Rickety Financial Institutions and How To Tame Them

In the wake of our most recent financial crisis, Stanford University economist Anat Admati, coauthor of The Bankers’ New Clothes: What’s Wrong with Banking and What to Do About It, listened carefully to the debates and arguments and discussions about what had gone wrong and what should be done.

“Everybody seemed to have a story they liked to tell about what went on and what to do, and they had it all figured out,” she told a standing-room-only crowd at the Goethe-Institut Los Angeles. At the same time, there was very …

Should We Have Let Wall Street Go Bust?

Perspectives on the Much-Hated, Much-Attacked, and Much-Defended Great Bank Bailout of 2008

Unless we were very young or very oblivious, we remember the financial panic that followed the collapse of Lehman Brothers on September 15, 2008. Wall Street ran to Washington and …

Dressing Down Wall Street

The Bankers’ New Clothes: What’s Wrong with Banking and What to Do about It

If you went back in time to 2007 or 2008, you would probably shock the public by explaining that the big banks, in 2013, look much as they did before …

Can We Stop Another Run on the Banks?

No, Says Gary B. Gorton, Unless We Get What Causes Financial Crises

In Squaring Off, Zócalo invites authors into the public square to answer five questions about the essence of their books. For this round, we pose questions to Gary B. Gorton, …