Financial market meltdown and a need for new financial regulations

Mittnik, S; Nell, E; Platen, E; Semmler, W; Chappe, R

Financial market meltdown and a need for new financial regulations

Mittnik, S Nell, E Platen, E

Semmler, W Chappe, R

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Publisher:: Middle East Technical University
Publication Type:: Journal Article
Citation:: METU Studies in Development, 2009, 36 (1), pp. 253 - 269
Issue Date:: 2009-01

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Field	Value	Language
dc.contributor.author	Mittnik, S	en_US
dc.contributor.author	Nell, E	en_US
dc.contributor.author	Platen, E https://orcid.org/0000-0003-4595-3123	en_US
dc.contributor.author	Semmler, W	en_US
dc.contributor.author	Chappe, R	en_US
dc.date.issued	2009-01	en_US
dc.identifier.citation	METU Studies in Development, 2009, 36 (1), pp. 253 - 269	en_US
dc.identifier.issn	1010-9935	en_US
dc.identifier.uri	http://hdl.handle.net/10453/12591
dc.description.abstract	The financial crisis, triggered by the subprime and real estate crisis in the US, has become global It 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 speculation, corporate control - mergers and acquisitions -: and a casino for bettmg on or hedging practically any kind of risk - the derivatives market.	en_US
dc.publisher	Middle East Technical University	en_US
dc.relation.ispartof	METU Studies in Development	en_US
dc.title	Financial market meltdown and a need for new financial regulations	en_US
dc.type	Journal Article
utslib.citation.volume	1	en_US
utslib.citation.volume	36	en_US
utslib.for	150201 Finance	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Science
pubs.organisational-group	/University of Technology Sydney/Faculty of Science/School of Mathematical and Physical Sciences
pubs.organisational-group	/University of Technology Sydney/Strength - QFRC - Quantitative Finance Research Centre
utslib.copyright.status	closed_access
pubs.consider-herdc	true	en_US
pubs.issue	1	en_US
pubs.volume	36	en_US

Abstract:

The financial crisis, triggered by the subprime and real estate crisis in the US, has become global It 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 speculation, corporate control - mergers and acquisitions -: and a casino for bettmg on or hedging practically any kind of risk - the derivatives market.

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10453/12591