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Bringing Down the Banking System

Lessons from Iceland

Bringing Down the Banking System by Gudrun Johnsen
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The combined collapse of Iceland's three largest banks in 2008 is the third largest bankruptcy in history and the largest banking system collapse suffered by any country in modern economic history, relative to GDP. How could tiny Iceland build a banking system in less than a decade that proportionally exceeded Switzerland's? Why did the bankers decide to grow the system so fast? How did businesses tunnel money out of the banking system? And why didn't anybody stop them? Bringing Down the Banking System answers these questions. Gudrun Johnsen, Senior Researcher with Iceland's Special Investigation Commission, tells the riveting story of the rise and fall of the Icelandic banking system, describes the commission's findings on the damaging effects of holding company cross-ownership, and explains what we can learn from it all.
Palgrave Macmillan; January 2014
269 pages; ISBN 9781137347350
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Title: Bringing Down the Banking System
Author: Gudrun Johnsen
 
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ISBNs
113734735X
9781137347350
9781137358196