Friday, December 10, 2010

Resilience in the crisis

BookValue
Surviving the Storm
Dhiraj Nayyar
(Penguin)

Weak transmission mechanism

Post-Lehman, we seem to be smug about our `rudimentary and unsophisticated financial system where regulation is very tight, securitisation and other complex derivatives are largely disallowed, and banks behave conservatively,' observes Dhiraj Nayyar in one of the essays included in `Surviving the Storm' (Penguin).

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