Too Big to Fail: Policies and Practices in Government Bailouts

Front Cover

Usually associated with large bank failures, the phrase too big to fail, which is a particular form of government bailout, actually applies to a wide range of industries, as this volume makes clear. Examples range from Chrysler to Lockheed Aircraft and from New York City to Penn Central Railroad. Generally speaking, when a corporation, an organization, or an industry sector is considered by the government to be too important to the overall health of the economy, it will not be allowed to fail. Government bailouts are not new, nor are they limited to the United States. This book presents the views of academics, practitioners, and regulators from around the world (e.g., Australia, Hungary, Japan, Europe, and Latin America) on the implications and consequences of government bailouts.


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Some Historical Perspectives on Too Big to Fail Policies
What Does Too Big to Fail Mean?
Too Big to Fail Government Bailouts and Managerial Incentives The Case of the Reconstruction Finance Corporation Assistance to the Railroad Indus...
Does Financial Liberalization Increase the Likelihood of a Systemic Banking Crisis? Evidence from the Past Three Decades and the Great Depression
The Federal Home Loan Bank System and the Farm Credit System Historic Parallels and Implications for Systemic Risk
Too Big to Fail in the Banking Industry A Survey
Too Big to Fail in US Banking Quo Vadis?
The Fall and Rise of Banking Safety Net Subsidies
Too Big to Fail A Taxonomic Analysis
Avoiding a Permanent Banking Crisis The Hungarian Banking Sector in the 1990s
Banking in Japan Will Too Big to Fail Prevail?
Too Big or Not Too Big to Fail Fannie Mae Freddie Mac and Enron
Are Fannie Mae and Freddie Mac Too Big to Fail?
Enron Not Too Big to Fail
About the Editors and Contributors

International Perspectives
Too Big to Fail The Australian Perspective

Common terms and phrases

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Page 7 - It acts, not only as an ordinary bank, but as a great engine of state. It receives and pays the greater part of the annuities which are due to the creditors of the publick, it circulates exchequer bills, and it advances to government the annual amount of the land and malt taxes, which are frequently not paid up till some years thereafter.
Page 7 - The stability of the bank of England is equal to that of the British government. All that it has advanced to the public must be lost before its creditors can sustain any loss. No other banking company in England can be established by act of parliament, or can consist of more than six members. It acts, not only as an ordinary bank, but as a great engine of state.

About the author (2004)

BENTON E. GUP holds the Robert Hunt Cochrane-Alabama Bankers Association Chair of Banking at the University of Alabama, Tuscaloosa. He is the editor or author of numerous books, including The Future of Banking (2003), Megamergers in a Global Economy: Causes and Consequences (2002), and The New Financial Architecture: Banking Regulation in the 21st Century (2001), all published by Quorum Books.

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