1 Dec 2015

The Political Origins of Banking Crises - Why do banks go bust?

From Nine To Noon, 10:08 am on 1 December 2015

Photo: 123rf

Financial Economics Professor Stephen Haber argues that banking crises are not the product of 'unforeseen shocks', but rather of politics, and we get the banking systems that our political systems allow.

This is why American banks go bust so often, (the US has had 12 systemic banking crises since 1840), while Canada and Australia have had none.

Professor Haber talks to Kathryn Ryan.