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Anat Admati

 

Media

Media Mentions About the Paper

"Fallicies, Irrelevant Facts, and Myths in the Discussion of
Capital Regulation: Why Bank Equity is Not Expensive."

Anat R. Admati, Peter M. DeMarzo, Martin R. Hellwig, and Paul Pfleiderer, August 2010,
Rock Center for Corporate Governance at Stanford University Working Paper No. 86,
Stanford Graduate School of Business Research Paper No. 2065.

"Learning to Live with Debt," by Floyd Norris, New York Times, August 4, 2011.

July

"Low Bank Capital Is Next Fiscal Crisis," commentary by Simon Johnson, Bloomberg View, July 31 2011.

"Low Bank Capital Is Next Fiscal Crisis," commentary by Simon Johnson, Bloomberg View, July 31 2011.

"The Malevolent Ex-Maestro," opinion column by Paul Krugman, New York Times, July 30, 2011.

"Time to Go it Alone and Bolt from Basel?" by Barbara A. Rehm, American Banker, July 27 2011.

"Regulatory Reform: A Disappearing Act?" by Tom Braithwaite and Aline van Duyn, Financial Times, July 20 2011.

"A Year After Dodd-Frank, Too Big to Fail Remains Bigger Problem Than Ever," by Shahien Nasiripour, Huffington Post,
July 20, 2011.

"Regulatory Reform: A Disappearing Act?" by Tom Braitgwaite and Aline van Duyn, Financial Times, July 20 2011.

"The More Bank Capital, the Safer the Bank: We Need Buffers to Protect Taxpayers and the Financial System," op ed by John Cochrane, Wall Street Journal, July 15, 2011.

"Are Bank Examiners to Blame for Slow Job Growth?" by Simon Johnson, Economix blog, New York Times, July 14, 2011.

"More Equity, Less Risk," by Tim Harford, Financial Times, July 2, 2011.

"Banks Can Raise More Capital," op ed by David Miles, Wall Street Journal Europe edition, July 1, 2011. (See also the unedited text of this piece, "Where Will the Extra Bank Capital Come From?")

June

"How Not to Measure a Business," by John Kay, Financial Times, June 22 2011.

"Nocera vs Sorkin, Bank Capital Edition," by Felix Salmon, Reuters blog, June 21, 2011.

"Banking's Moment of Truth," op ed by Joe Nocera, New York Times, June 20, 2011.

"Tarullo's Capital Idea," Wall Street Journal editorial, June 16, 2011.

"Why the Sign Must Say: No UBS in the USA," by Thomas Hoenig, Financial Times, June 16 2011.

'JPMorgan Seeks Halt to New Capital Rules,' by Tom Braithwaite, Financial Times, June 16, 2011.

'6 Fallacies, Myths and Irrelevant Facts Bankers Want You to Believe,' S.L. Mintz, Bnet , June 15, 2011.

'Two Views on Bank Rules: Salvation and Jobkillers,' New York Times Dealbook blog by Andrew Ross Sorkin, June 14, 2011.

"Jamie Dimon's Faulty Capital Requirement Math: Simon Johnson," Simon Johnson, Bloomberg, June 9, 2011.

May

"How Much is Enough?" The Economist, May 12, 2011.

'Excessive Leverage Helped Cause the Great Depression and the Current Crisis … And Government Responds by Encouraging MORE Leverage,' by Barry Ritholtz, The Big Picture blog, May 3, 2011.

April

'The Next Bank Crisis Is Coming,' by Matt Miller, The Washington Post, April 27, 2011.

'Arrogance and Authority,' by Simon Johnson, Caijing.com, April 27, 2011.

'Banks Risks Out of Touch with Reward,' op ed by John Plender, Financial Times, April 24, 2011.

“Fiscal Conservatives Dodge $10 Trillion Debt,” Simon Johnson, Bloomberg, April 20, 2011.

"Simon Johnson Takes on the Banks," Luc Vallee, The Skeptical Market Observer, April 18, 2011.

'Yet Again, a Chance to Rein in the Bankers has been Squandered,' commentary by Will Hutton,
The Observer (Guardian.co.uk), April 17, 2011.

"Is Goldman Sachs Too Big to Fail?" Simon Johnson, New York Times Economix Blog, April 14.

"Too Much Finance?," Jean-Louis Arcanda, Enrico Berkes, & Ugo Panizza, Vox, April 7, 2011.

"UK's Banking Climate is Making the US Look Attractive," John Plender, Financial Times, April 5, 2011.

March

"In Debate Over Bank Capital Regulation, a Trans-Atlantic Gulf," Jesse Eisinger, The New York Times, March 30, 2011.

"Don't Listen to the Banks' Lobbyists - Basel III is Way Too Soft," Olaf Storbeck, Economics Intelligence, March 30, 2011.

'Dividends Lost', Simon Johnson, New York Time's Economix Blog, March 24, 2011.

'The Road to Fiscal Crisis', Simon Johnson, Project Syndicate, March 23, 2011.

"U.S. Banks Test Weigh Means With Sentiment," Tom Braithwaite, FT.Com., March 22, 2011.

'How Bank Dividends Help Wall Street — and Hurt Almost Everyone Else', Alain Sherter, BNet, March 18, 2011.

"U.S. Banks Lift Dividends After Fed Green Light," Tom Braithwaite, Justin Baer, Suzanne Kapner, FT.com, March 18, 2011.

"Basel III Capital Rules Too Low, Says Turner," by Brooke Masters and Tom Braithwaite,
Financial Times, March 16, 2011 Commentary

"Battle of the Bank Policy Heavyweights," Simon Johnson, The New York Times, March 10, 2011.

"Is the New York Fed Making a Big Mistake?," Simon Johnson, The New York Times, March 4, 2011.

February

"More Equity, Less Government: Rethinking Bank Regulation," By Mark J. Perry and Robert Dell, The American, Feb. 24, 2011.

"Case is Strong for Capital Additions," by Joseph V. Rizzi, American Banker, Feb 16 2011.

January

"Let's Put the 'Capital' Back Into Capitalism," Jennifer Taub, The ParetoCommons, Jan. 24, 2011.

"Tunnel Vision, or Worse, From Banking Regulators," by Simon Johnson, New York times, Jan 20, 2011.

"The Social Networking of Bank Equity," Robert Teitelman, The Deal Magazine, The Deal Pipeline, Jan. 20, 2011.

"What Goldman Sachs Failed to Acknowledge," by Simon Johnson, New York Times, Jan. 13, 2011.

"More Bank Reforms Needed, Economists Say," by Mark Whitehouse, Wall Street Journal online, January 9, 2010.

"The Bill Daley Problem", Simon Johnson, The Baseline Scenario, Jan. 9, 2011.

"Why are Taxpayers Subsidizing Facebook, and the Next Bubble?" by Simon Johnson, New York Times blog, Jan. 6, 2011.

"The Ninth Decision. . .and the Road Ahead," David Warsh, economicprincipals.com, Jan. 2, 2011.

August - December

"Banks best Basel as Regulators Dilute or Delay Capital Rules," by Yalman Onaran, Bloomberg Businessweek, Dec. 21, 2010.

"Yogi Berra on Leverage," Lawrence Baxter, The ParetoCommons, Dec. 2, 2010.

"G20 Bankers of the Year: Faking It," Monika Mitchell, The Economy of Trust Blog, Nov. 13, 2010.

"Whose Risk is It? Bank Capital, Basel III, and the Bankers," Lawrence Baxter, The ParetoCommons, Nov. 9, 2010.

"Basel: The Mouse That Did Not Roar," by Martin Wolf, The Financial Times, Sept. 14, 2010.

"Eight Years and Bigger Than Ever: Will Basel III Help?", Jennifer Taube, The ParetoCommons, Sept.13, 2010.

"Why Bank Equity is Not Expensive," (Includes video), Stanford Knowledgebase

"Fallacies, Irrelevant Facts, and Myths," Lawrence Baxter, The ParetoCommons, Sept. 7, 2010.

"Why Regulators Should be Tough on Bank Capital," Felix Salmon, Reuters, Sept. 7, 2010.

Video and Podcast Related to the Paper Video

"Admati on Financial Regulation," downloadable podcast interview with EconTalk host Russ Roberts (approx. 1 hour), August 1, 2011

Mathematical Sciences Research Institute Seminar, Sept. 13, 2010 (Panel discussion begins at 20 minute mark)

Equity Requirements & Regulators

What Are Debt and Equity?

Banks' Risky Levels of Leverage is Like Pollution