52 min listen
Philip A. Wallach, “To The Edge: Legality, Legitimacy, and the Responses to the 2008 Financial Crisis” (Brookings, 2015)
Philip A. Wallach, “To The Edge: Legality, Legitimacy, and the Responses to the 2008 Financial Crisis” (Brookings, 2015)
ratings:
Length:
27 minutes
Released:
Jun 22, 2015
Format:
Podcast episode
Description
Philip A. Wallach is the author of To The Edge: Legality, Legitimacy, and the Responses to the 2008 Financial Crisis (Brookings Institution Press, 2015). Wallach is a fellow in Governance Studies at the Brookings Institution.
There has been a lot written about the financial crisis of the late 2000s, but little with the attention to important concepts from political science. Wallach investigates the various federal strategies to address the meltdown of the financial sector from the perspective of legitimacy, seeking to understand what we can learn about this idea from the unprecedented expansion of federal power. From efforts to save the failing investment banks, Bear Stearns, Lehman Brothers, AIG, to the passage of the Troubled Asset Relief Program (TARP), federal officials applied a largely ad-hoc approach that Wallach deems “adhocracy” often substituting expedience for legal authority. While this worked in the short-term, Wallach probes where this leaves the country and speculates about what will come in the future.Learn more about your ad choices. Visit megaphone.fm/adchoices
There has been a lot written about the financial crisis of the late 2000s, but little with the attention to important concepts from political science. Wallach investigates the various federal strategies to address the meltdown of the financial sector from the perspective of legitimacy, seeking to understand what we can learn about this idea from the unprecedented expansion of federal power. From efforts to save the failing investment banks, Bear Stearns, Lehman Brothers, AIG, to the passage of the Troubled Asset Relief Program (TARP), federal officials applied a largely ad-hoc approach that Wallach deems “adhocracy” often substituting expedience for legal authority. While this worked in the short-term, Wallach probes where this leaves the country and speculates about what will come in the future.Learn more about your ad choices. Visit megaphone.fm/adchoices
Released:
Jun 22, 2015
Format:
Podcast episode
Titles in the series (100)
Louis Hyman, “Debtor Nation: The History of America in Red Ink” (Princeton UP, 2011): I remember clearly the day I was offered my first credit card. It was in Berkeley, CA in 1985. I was walking on Sproul Plaza and I saw a booth manned by two students. They were giving out all kinds of swag, so I walked over to see what was... by New Books in Economics