The Global Financial Crisis according to Ross Levine

Global Financial Crisis Survey

Ross Levine is a Professor at the University of California, Berkeley and coauthor (with James Barth, and Jerry Caprio) of Guardians of Finance: Making Regulators Work for Us. In 2010 he published An Autopsy of the U.S. Financial System in the Journal of Financial Economic Policy.

1. Which FCIC View best represents the causes of the Financial Crisis?

None of the views.

2. Which narrative presented by Douglas Elliott and Martin Baily of the Brookings Institute in Telling the Narrative of the Financial Crisis: Not Just a Housing Bubble best represents the causes of the Financial Crisis?

It was the fault of the government.

3. I believe the crisis is ongoing and I project the Global Financial Crisis will end in the year

2013 or beyond.

4. What were the primary causes of the Global Financial Crisis?

Financial regulators and government officials too often work for the best interests of the executives of the financial services industry and not in the best interests of the public at large.

5. What still should change as a result of the crisis?

We need institutional reforms that oblige the government officials and financial regulators to more frequently work for the public at large.

Compiled by Gary Karz, CFA
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Global Financial Crisis Survey

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