Contents -- Preface -- Chapter 1 Introduction -- No Two Financial Crises are the Same -- What is this book about? -- Part One Destructive Creativity of Wall Street -- Chapter 2 Potted History of Banking and Finance -- Importance of Banks and Financial Companies -- The Dawn of Deregulation -- Chapter 3 In the Shadow of Depression? -- Chapter 4 Financial Engineering or What Can Go Wrong Will -- Securitization and How It Can Go Wrong -- Financial Weapons of Mass Destruction -- Financial Excesses -- Chapter 5 Financial Architecture - I -- A Robust and Sound Financial Sub-System -- Payment System Consisting of Narrow Banks -- Insurance Companies and Commercial Banks -- Other Financial Firms -- Key Features of the Proposed Financial Architecture -- Financial Infrastructure -- Chapter 6 Financial Architecture - II -- Higher Level of Systemic Risk -- Independent Rating Agencies -- Contagion and Currency Control -- Offshore Banking -- Trust and Confidence -- Chapter 7 Reforming the IMF - from Fire Fighting to Fire Prevention -- Chapter 8 Regulation and Deregulation -- The Pros and Cons of Regulation -- Limits of Regulation -- Chapter 9 Back to Basics -- Being Boring Still Pays -- The Question of Remuneration -- Two Discussion Points -- Chapter 10 Counter-Cyclical Measures -- A Core Idea of Keynesian Economics -- Asset Inflation and Deflation -- Problems of Implementation -- Chapter 11 Some Deeper Issues -- Economic Equity and Social Safety Net -- Economic Realism and Political Parochialism -- Big Government and Recession -- Reflections on Information Economy -- Two Opposed Ideas in the Mind at the Same Time -- Part Two The East Asian Response -- Chapter 12 The 1997 Asian Financial Crisis -- Background -- General Weaknesses of the East Asian Economies -- Why Did It Happen? -- Chapter 13 Ten Years After the Asian Financial Crisis - Positive Lessons Learned.

The Positives -- Chapter 14 Ten Years After the Asian Financial Crisis - Negative Lessons Learned -- The Negatives -- Chapter 15 Deconstructing the State-led Model -- A Changed Environment -- Chapter 16 Reforming the State-led Model -- Japanese Reforms -- Chinese Reforms -- Korean Reforms -- Other East Asian Reforms -- Vietnam -- Korea -- Afternote -- Chapter 17 The Global Financial Crisis 2008 -- Global Financial Crisis Arrives in 2008 -- Chapter 18 Impact and Immediate Response to the Crisis in East Asia -- What is the Impact on Major Southeast Asian Economies? -- Indonesia -- Malaysia -- Philippines -- Thailand -- Japan -- How is Southeast Asia Coping with the Crisis? -- Indonesia's management of the crisis -- Malaysia's management of the crisis -- Philippines' management of the crisis -- Chapter 19 Coordinating with the Region and the World -- East Asia to the Rescue? -- Governments to the Rescue -- Boosting Domestic Consumption -- Looking Beyond the Crisis -- Chapter 20 ASEAN Economic Regionalism: A Regional Financial Architecture in the Making? -- Subregional Strategies to Cope with Financial Crisis -- Actors in East and South Asia Outside ASEAN -- How are they plugging into ASEAN's regionalism initiatives? -- FTA with India - finance on the agenda -- Chapter 21 Forming an Economic Community -- ASEAN Economic Community -- Regional Currency -- Regional bond market -- Establishing a Crisis Fund -- Chapter 22 A Shift in Power Center? -- Epilogue 1 What Now? -- Private Sector Involvement -- The Obama Factor -- Unity in Adversity -- APEC -- G-20 -- Epilogue 2 Coping with Challenges -- Coping Strategies in East Asia -- Weak Points of Asia -- Challenges in Vietnam -- Challenges in Japan -- Challenges in China -- Appendix Developing an East Asian Business Ethos Ho Kwon Ping -- Notes -- Bibliography -- Index -- About the Authors.