Memorandum on a new financial architecture and new regulations

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2009-6-1

Author

Mittnik, Stefan
Nell, Edward
Platen, Eckhart
Semmler, Willi
Chappe, Raphaele

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The financial crisis is global and is deeply rooted in a decade-long misuse of the financial market for rent-seeking. The financial industry has largely abandoned its role as a service industry, supposedly charging reasonable fees for the services of spreading risk and allocating capital and credit. Instead it provides a market for corporate control –mergers and acquisitions– and a casino for betting on or hedging practically any kind of risk –the derivatives market–.

Subject Keywords

Financial Market Meltdown, New Financial Regulations

URI

http://www2.feas.metu.edu.tr/metusd/ojs/index.php/metusd/article/view/248/267
https://hdl.handle.net/11511/92903

Journal

ODTÜ Gelişme Dergisi

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Department of Political Science and Public Administration, Article

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Citation Formats

S. Mittnik, E. Nell, E. Platen, W. Semmler, and R. Chappe, “Memorandum on a new financial architecture and new regulations,” ODTÜ Gelişme Dergisi, vol. 36, no. 1, pp. 253–269, 2009, Accessed: 00, 2021. [Online]. Available: http://www2.feas.metu.edu.tr/metusd/ojs/index.php/metusd/article/view/248/267.