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Bringing Down the Banking System

Name: Bringing Down the Banking System
Brand: PALGRAVE MACMILLAN
SKU: 02749205
Price: 118.79 EUR
Availability: InStock
Author: Gudrun Johnsen
ISBN: 9781137455574

Lessons from Iceland

Gudrun Johnsen

Language

English

Book Paperback

Libristo code: 02749205

Publishers PALGRAVE MACMILLAN, June 2014

The combined collapse of Iceland's three largest banks in 2008 is the third largest bankruptcy in hi... Full description

Libristo code: 02749205

291 b

118.79 € VAT included

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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.