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•Simon Johnson: Break-up institutions that are 'too big to fail' to limit systemic risk.

•Paul Krugman: Regulate institutions that 'act like banks ' similarly to banks.

•Alan Greenspan: Banks should have a stronger capital cushion, with graduated regulatory capital requirements (i.e., capital ratios that increase with bank size), to 'discourage them from becoming too big and to offset their competitive advantage.'

•Warren Buffett: Require minimum down payments for home mortgages of at least 10% and income verification.

•Eric Dinallo: Ensure any financial institution has the necessary capital to support its financial commitments. Regulate credit derivatives and ensure they are traded on well-capitalized exchanges to limit counterparty risk.

•Raghuram Rajan: Require financial institutions to maintain sufficient 'contingent capital' (i.e., pay insurance premiums to the government during boom periods, in exchange for payments during a downturn.)

•A. Michael Spence and Gordon Brown: Establish an early-warning system to help detect systemic risk.

•Niall Ferguson and Jeffrey Sachs: Impose haircuts on bondholders and counterparties prior to using taxpayer money in bailouts.

•Nouriel Roubini: Nationalize insolvent banks. Reduce mortgage balances to assist homeowners, giving the lender a share in any future home appreciation.

Timeline Of Events

Predecessors

•Mar-2000 Dot-com bubble peak

•Jan-2001 First Cut in Fed Funds rate for this cycle (from 6.5% to 6.00%)

•Stock market downturn of 2002

•Jun-2003 Lowest Fed Funds rate for this cycle (1%)

•Late 2003 Lowest 3mo T-bill rate for this cycle (0.88%)

•2003-2004 Prolonged period of low Fed Funds and positively sloped yield curve

•Jun-2004 First increase in Fed Funds rate for this cycle (from 1% to 1.25%)

•2003-2005 Period of maximum inflation of the United States housing bubble

•2004-2006 Slow rise in Fed Funds rate with positively sloped but narrowing yield curve

•Feb-2005 Greenspan calls long-term interest rate behavior a “conundrum”

•Jun-2006 Fed Funds reach peak for this cycle of 5.25%

•Oct-2006 Yield curve is flat

Events Of 2007

•March, 2007 Yield curve maximum inversion for this cycle

•August, 2007: Liquidity crisis emerges

•September, 2007: Northern Rock seeks and receives a liquidity support facility from the Bank of England

•October, 2007: Record high U.S. stock market October 9, 2007 Dow Jones Industrial Average (DJIA) 14,164

Events Of 2008

•January, 2008: Stock Market Volatility

•February, 2008: Nationalisation of Northern Rock

•March, 2008: Collapse of Bear Stearns

•June 27, 2008: Bear Market of 2008 declared

•July 1, 2008: Bank of America buys Countrywide Financial

•July, 2008: Oil prices peak at $147 per barrel as money flees hou本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。