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Last Resort audiobook
- By: Eric A. Posner
- Category: Business & Economics, General
- Length: 9 hours 8 minutes
- Publisher: Tantor Media, Inc
- Publish date: May 22, 2018
- Language: English
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Last Resort Audiobook Summary
The bailouts during the recent financial crisis enraged the public. They felt unfair-and counterproductive: people who take risks must be allowed to fail. If we reward firms that make irresponsible investments, costing taxpayers billions of dollars, aren’t we encouraging them to continue to act irresponsibly, setting the stage for future crises? And beyond the ethics of it was the question of whether the government even had the authority to bail out failing firms like Bear Stearns and AIG.
The answer, according to Eric A. Posner, is no. The federal government freely and frequently violated the law with the bailouts-but it did so in the public interest. An understandable lack of sympathy toward Wall Street has obscured the fact that bailouts have happened throughout economic history and are unavoidable in any modern, market-based economy. And they’re actually good. Contrary to popular belief, the financial system cannot operate properly unless the government stands ready to bail out banks and other firms.
Taking up the common objections raised by both right and left, Posner argues that future bailouts will occur. Acknowledging that inevitability, we can and must look ahead and carefully assess our policy options before we need them.
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About the Author(s) of Last Resort
Eric A. Posner is the author of Last Resort
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Last Resort Full Details
| Length | 9 hours 8 minutes |
| Author | Eric A. Posner |
| Category | |
| Publisher | Tantor Media, Inc |
| Release date | May 22, 2018 |
| ISBN | 9781977382146 |
Subjects
The publisher of the Last Resort is Tantor Media, Inc. includes the following subjects: financial crisis, government bailouts, AIG, Business & Economics, General, Business & Economics, Finance, Business & Economics, Economics, General, Law, General, Law, Business & Financial, Law, Government, Federal, Law, Government, General The BISAC Subject Code is Business & Economics, General
Additional info
The publisher of the Last Resort is Tantor Media, Inc. The imprint is Tantor Media, Inc. It is supplied by Tantor Media, Inc. The ISBN-13 is 9781977382146.
Global Availability
This book is only available in the United States.
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