The Global Financial Crisis

Luigi Zingales Opinion Spotlight

Curbing Risk on Wall Street

By Luigi Zingales and Oliver Hart

Issue 71 - April 1, 2010 - The financial crisis of 2008 had many causes. They ranged from a housing bubble to excessive speculation, and from inadequate accounting rules to reckless corporate governance. But at the heart of the meltdown were the financial industry’s distorted incentives — created in large part by decades of misguided government policy — which caused bankers and investors to take enormous risks without due regard for their consequences.
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Voices of Chicago Booth

Voice of Chicago Booth
at Heart of Economic Debate

Questions about the true gravity of the global financial crisis and the implications of the government's actions - both taken and proposed - have been the topic of much debate. Searching for answers, media sources from around the world have looked to members of the Chicago Booth faculty for an explanation of the latest developments on Wall Street.

 Ball - Leuz | Mian - Zingales 

Ray Ball
Sidney Davidson Professor of Accounting
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Brian Barry
Clinical Associate Professor of Economics
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Randall Kroszner
Norman R. Bobins Professor of Economics
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Christian Leuz
Joseph Sondheimer Professor of International Economics, Finance, and Accounting
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Atif Mian
Associate Professor of Finance
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Joseph D. Rauh
Associate Professor of Finance and the Charles M. Harper Faculty
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Richard H. Thaler
Ralph and Dorothy Keller Distinguished Service Professor of Behavioral Science and Economics
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Francisco Trebbi
Assistant Professor of Economics
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Last Updated 6/21/10