Crime and Punishment

Bernard E. Munk

Chapter Chapter 11 in Disorganized Crimes, 2013, pp 150-160 from Palgrave Macmillan

Abstract: Abstract Looking back over the events of 2007–08, one is struck by how throughout the entire period events and subsequent policy choices seemed to rush headlong from one day to the next as if in a dream. Previous icons of financial acumen tumbled and nothing in finance seemed like a “sure thing” anymore. Perhaps “dream” is too soft a term. It was more the unfolding of a nightmare, as one crisis was confronted by policy measures never before considered, only to lead to a new challenge even more frightening. As the drama evolved, earlier choices made by key managers seemed totally inexplicable. In hindsight, one could easily argue that managerial actions had been “excessive,” even perhaps “deranged”.

Keywords: Corporate Governance; Agency Cost; Private Equity; Corporate Control; Activist Shareholder (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-33027-7_11

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DOI: 10.1057/9781137330277_11

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