There is still no consensus on who or what caused the financial crisis which engulfed the world, beginning in the summer of 2007.
A huge number of suspects have been identified, from greedy investment bankers, through feckless borrowers, dilatory regulators and myopic central bankers to violent video games and high levels of testosterone among the denizens of trading floors. There is not even agreement on whether the crisis shows a need for more government intervention in markets, or less: some maintain that government encouragement of home ownership lay at the heart of the problem in the US, in particular.
In The Financial Crisis Howard Davies charts a course through these arguments, and the evidence advanced for each of them. The reader can thereby assess the weight to be attached to each, and the likely effectiveness of the remedies under development.
"It's hard to think of anyone better qualified than Howard Davies to evaluate the competing arguments about what caused the worst financial crisis and recession since the 1930s."
Robert Peston, Business Editor for BBC News
"Davies offers the most comprehensive post-mortem yet of the Great Crisis -- essential reading for those who are trying to fix a still precarious post-crisis world."
Stephen S. Roach, Chairman of Morgan Stanley Asia
Sir Howard Davies (1951) is Director of the London School of Economics and Political Science. Davies teaches for the TRIUM Global Executive MBA Program, an alliance of NYU Stern, the London School of Economics and HEC School of Managment. Davies became Director of the LSE in 2003, taking over the post previously held by Anthony Giddens.
Davies has published four books - Chancellors Tales(Polity Press 2006), with co-author David Green, Global Financial Regulation: the Essential Guide (Polity Press 2008) and "Banking on the Future: the fall and rise of central banking (Princeton University Press 2010), and "The Financial Crisis: who's to blame" (Polity Press 2010).
He writes regularly for The Financial Times, The Times, The Times Higher Education Supplement and Management Today.