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Analysis of the current financial/economic crisis from the Director of the Banking Sector at the FSA (Financial Services Authority). New edition updated to take account of changes in regulation and legislation in the US, EU and UK. Many of these changes were in line with the recommendations made in the original edition

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Introduction PART I: CAUSE Rational Exuberance Too Much of a Good Thing PART II: CONTAINMENT Conditional Containment Moving towards Meltdown Unconditional Containment PART III: CURE Better Macroeconomic Policy Better Resolution Better Deposit Guarantee Schemes Better Regulation Better Supervision Conclusion Notes References Index

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THOMAS F. HUERTAS Member, Executive Committee for the Financial Services Authority UK, Alternate Chair, European Banking Authority and member of the Basel Committee for Banking Supervision. Previously he worked for nearly 30 years in various senior business and policy positions at Citibank. He has written extensively on banking and financial regulation.

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