| The unending deposit insurance mess. | |
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MedLine Citation:
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PMID: 17788695 Owner: NLM Status: PubMed-not-MEDLINE |
Abstract/OtherAbstract:
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The thrift institution deposit insurance mess is rooted in defects in political and bureaucratic accountability. Under existing incentives, covering up evidence of poor regulatory performance and relaxing binding capital requirements are rational governmental responses to widespread industry insolvency. Similarly, aggressive industry risk taking is a rational response by thrift managers to regulatory forbearances. Far from acknowledging these incentive defects, the Bush plan for cleaning up the mess adopts theories that spotlight other causes: specifically, poor thrift management and the deregulation of thrift institution activities and of deposit interest rates. To end the mess, politicians and regulators must jettison these comfortable theories and surrender discretion that permits them to finesse the need to budget for governmental financial commitments. |
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Authors:
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E J Kane |
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Publication Detail:
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Type: Journal Article |
Journal Detail:
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Title: Science (New York, N.Y.) Volume: 246 ISSN: 0036-8075 ISO Abbreviation: Science Publication Date: 1989 Oct |
Date Detail:
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Created Date: 2010-06-08 Completed Date: 2010-07-02 Revised Date: - |
Medline Journal Info:
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Nlm Unique ID: 0404511 Medline TA: Science Country: United States |
Other Details:
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Languages: eng Pagination: 451-6 Citation Subset: - |
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From MEDLINE®/PubMed®, a database of the U.S. National Library of Medicine
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