Can Strict Capital Requirements Secure Financial Markets?
The American Academy in Berlin - The American Acadedy in Berlin
The author of The Lords of Finance: The Bankers Who Broke the World, Liaquat Ahamed, was at the Academy as a David Rubenstein Distinguished Visitor on October 13 for a lecture on "Lessons from the Great Depression."Ahamed, an investment manager and author, spoke to insights the Great Depression can lend in light of the recent economic turndown, the forces that cause global financial crises generally, and the necessary changes in the domestic regulatory structure (and the global financial system) that must be implemented to avoid a repeat of the cataclysm.In The Lords of Finance Ahamed stresses that blanket blame for the Great Depression is not, like now, so easy to assign; even the most highly trained economists could not predict the disaster. The echoes are eerily familiar.