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 Restoring Financial Stability: How to Repair a Failed System (Wiley Finance) $49.95 The financial crisis was an event of great complexity given the multitude of players and the complexity of various financial instruments amongst other things. However, there are many simple underlying reasons for why individual elements of the system did not work the way they were supposed to. Simple that is, if the crisis is explained the way it is in this book. The onion has been peeled without jargon making the book accessible to anyone who has basic familiarity with financial institutions and markets. The different chapters of the book do a great job of finding the reason for different elements of the crisis. For example, questions such as why did the rating agencies not do their job are answered in terms of what their business models incentivizes them to do. Similar questions of incentives have been asked and answered about the management of large financial institutions. The book, in my view rightly, focuses not on level of incentives but on how the incentives encourage executives of financial institutions to take large risks. I also liked the humility displayed by the authors in their recommendations. So for example, if the "issuer pays" model of rating agencies has a built in conflict of interest, the author does not shy away from pointing out the disadvantages and risks of alternate business models. It would be very useful if the authors of the book came up with a status report on their recommendations. I for one would like to know how much progress has been made in tackling the root causes of the crisis.  Hank Jones: The Jazz Master Class Series From NYU $19.95 In this series of DVDs, some of the most important jazz artists are presented in a unique master class setting. They perform, they talk about their lives and work, students play for them and the comment and instruct those students. Students discuss thei  NYU Bobcats Crossover Flannel Pants - X-Large $25.00 For around-the-house comfort, kicking back or catching Z's, slip into these warm cotton NYU Bobcats Crossover Flannel Pants. Feature embroidered team logo on left thigh, plus woven team patch at front of waistband. |
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