Jump to ContentJump to Main Navigation
New Directions in Financial Services Regulation$
Users without a subscription are not able to see the full content.

Roger B. Porter, Robert R. Glauber, and Thomas J. Healey

Print publication date: 2011

Print ISBN-13: 9780262015615

Published to MIT Press Scholarship Online: August 2013

DOI: 10.7551/mitpress/9780262015615.001.0001

Show Summary Details
Page of

PRINTED FROM MIT PRESS SCHOLARSHIP ONLINE (www.mitpress.universitypressscholarship.com). (c) Copyright The MIT Press, 2022. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in MITSO for personal use.date: 06 July 2022

Summary of Discussion

Summary of Discussion

(p.63) Summary of Discussion
New Directions in Financial Services Regulation

Roger B. Porter

Robert R. Glauber

Thomas J. Healey

The MIT Press

This chapter summarizes and gathers together insights that come from the previous chapters. It first discusses an insight about how the government was responsible for the financial crisis and the importance of a predictable monetary policy. The private sector had some responsibility according to this theory, which also postulates that regulatory failure among bank supervisors was perhaps not at fault. Instead, the FOMC level’s failure in fundamental economic analysis is blamed. The chapter then summarizes the responses those insights, such as the idea that the predictability of monetary policy is open to interpretation. The chapter then submerges into the debates and arguments for the causes of the financial crisis, going through the points of each of the previous chapters. It ends an assertion that the government sector holds more responsibility for the crisis than the private sector, and that the government seems to have not learned from the financial crisis.

Keywords:   predictable monetary policy, regulatory failure, FOMC, fundamental economic analysis, financial crisis

MIT Press Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us.