THE FINANCIAL CRISIS: ISSUES IN BUSINESS, FINANCE AND GLOBAL ECONOMICS -- THE FINANCIAL CRISIS: ISSUES IN BUSINESS, FINANCE AND GLOBAL ECONOMICS -- CONTENTS -- PREFACE -- CAUSES OF THE FINANCIAL CRISIS -- SUMMARY -- INTRODUCTION -- GREED WITHOUT TRUST: FINANCIAL CRISIS AND THE BREAK-DOWN IN SPONTANEOUS ORDER -- ABSTRACT -- INTRODUCTION -- GREED AND TRUST -- THE DISSIPATION OF TRUST AND THE BREAK-DOWN IN SPONTANEOUS ORDER -- REFERENCES -- ELEMENTS FOR AN EFFECTIVE MANAGEMENT OF A BUSINESS CORPORATION CRISIS SITUATION -- ABSTRACT -- 1. INTRODUCTION -- 2. THE DEFINITION OF A CRISIS -- 3. TYPES OF CRISES -- 4. CRISIS MANAGEMENT -- 5. CRISIS MANAGEMENT PRINCIPLES -- 1. Understand Media Interest in a Crisis Situation and How They are Going to Handle It -- 2. Define the Problem That Cause the Crisis Situation and Determine the Best Strategy to Follow in Order to Reduce to the Minimum the Negative Impact in the Business Corporation Activities -- 3. Ensure Compliance with All Legal and Regulatory Matters Established by the Competent Government Authorities -- 4. Manage the Flow of Information Associated with the Crisis -- 5. Assume That the Worst Scenario Will Appears and That the Situation Will Escalate and Get Worse Before It Get Better -- 6. Remember All Constituencies When Dealing with a Crisis Situation -- 7. Measure Results Achieve in Managing the Crisis in Real Time -- 8. Identify the Facts That Need to Be Measured -- 9. Avoid Looking or Sounding too Defensive and Resist Being Drawn into a Situation That Could Weakness the Position of the Business Corporation during the Crisis Situation -- 10. Speedy Communication Is Essential, Especially with the Media and the Public -- 6. ASSEMBLE A CRISIS MANAGEMENT TEAM -- 7. CRISIS MANAGEMENT TEAM OPERATIONAL PRINCIPLES -- 8. THE TEN MOST COMMON MISTAKES MADE IN A CRISIS SITUATION.

9. CRISIS MANAGEMENT PLAN -- 9.1. Common Weaknesses in Crisis Management Planning -- 9.2. Crisis Communication Plan -- 9.2.1. The Spoken Word -- 9.2.2. Written Communications -- 9.2.3. Visual Images -- 9.2.4. Mixed Methods -- 9.2.5. Internet and Intranet -- 10. PHASES OF A CRISIS MANAGEMENT -- 10.1. Pre-crisis Phase -- 10.1.1. Prevention and Preparation -- 10.2. Crisis-Response -- 10.2.1. Detection -- 10.2.2. Mitigation -- 11. POST-CRISIS PHASE -- 11.1. Business Recovery Plan -- 12. RISK MANAGEMENT -- 13. ACTORS INVOLVED IN A CRISIS MANAGEMENT SITUATION -- 13.1. Government and Other Official Crisis Management Organizations -- 13.2. Non-governmental Organizations -- 13.3. Business Corporation -- 14. OTHER ELEMENTS THAT CHARACTERIZE A CRISIS SITUATION -- 14.1. Features of a Crisis -- 14.1.1. Someone Is to Blame -- 14.1.2. Something Is at Stake -- 14.1.3. Someone Finds Out -- 14.2. Usual Reaction -- 14.3. Handle the Crisis -- 14.3.1. Stop Whatever Is Causing the Problem -- 14.3.2. Put Out Holding Statement -- 14.3.3. Decide on Audiences -- 14.3.4. Decide What Will Be Said -- 15. A CASE TO BE STUDIED -- CONCLUSION -- ACKNOWLEDGMENT -- REFERENCES -- A CONTRIBUTION TO THE POSITIVE THEORY OF THE PUBLIC DEBT -- ABSTRACT -- 1. INTRODUCTION -- 2. PUBLIC DEBT ISSUANCE AND RICARDIAN EQUIVALENCE -- 3. THE BASIC MODEL -- 3.1. Timing of the Game -- 3.2. Utility Functions and Budget Constraints -- 3.3. The Government -- 3.3.1. At Time t - 1 -- 3.3.2. At time t -- 3.3.3. At time t + 1 -- 3.4. EQUILIBRIUM -- 4. NUMERICAL SIMULATIONS -- 4.1. Main Findings -- CONCLUSION -- ACKNOWLEDGMENTS -- APPENDIX -- REFERENCES -- AN ANALYSIS OF THE DETERMINANTS OF CREDIT DEFAULT SWAP SPREAD CHANGES BEFORE AND DURING THE SUBPRIME FINANCIAL TURMOIL -- Abstract -- 1.Introduction -- 2.A Review of the Literature on Credit Spreads -- 2.1.Main Determinants of Credit Spreads.

2.2.Empirical Studies -- 3.Merton Model -- 4.Methodology -- 4.1.Data Description -- 4.2.Empirical Models and Testing Methodology -- 5.Results -- 5.1.The Pre-Crisis Period -- 5.2.The Crisis Period -- 5.3.Further Analyses -- Analysis by Leverage Quartiles -- Analysis by Economic Sector -- Analysis by Liquidity Change -- 6.Conclusion -- References -- INSOLVENCY OF SYSTEMICALLY SIGNIFICANT FINANCIAL COMPANIES: BANKRUPTCY VS. CONSERVATORSHIP/RECEIVERSHIP -- SUMMARY -- INTRODUCTION -- COMPARISON OF DEPOSITORY INSTITUTIONS AND SYSTEMICALLY SIGNIFICANT FINANCIAL INSTITUTIONS -- DIFFERENCES BETWEEN THE FDIC'S CONSERVATORSHIP/RECEIVERSHIP POWERS AND THE BANKRUPTCY CODE -- Overall Objectives of Each Regime -- Insolvency Initiation Authority and Timing -- Oversight Structure and Appeal -- Management, Shareholder, and Creditor Rights -- FDIC "Superpowers," Including Contract Repudiation, versus Bankruptcy's Automatic Stay -- Speed of Resolution -- FINANCIAL MARKET INTERVENTION -- SUMMARY -- CURRENT CONCERNS -- What, if Anything, is Wrong with the Financial System? -- When did Trouble in the Financial Markets Start? -- What Caused Financial Market Turmoil? -- If 97% of Mortgage Borrowers are not in Foreclosure, Why is the Financial Turmoil So Large? -- Where are the Problem Loans Located? -- Who is Affected by the Financial Turmoil? -- How have Policymakers Responded to Financial Turmoil? -- Why Have The Federal Reserve's Traditional Tools Not Restored Order In Financial Markets? -- What is Contained in EESA, P.L. 110-343? -- What has Treasury done under the EESA? -- What Legislation is being Considered in the 111 Congress? -- What is a Bad Bank? -- THE DEBT LIMIT: HISTORY AND RECENT INCREASES -- SUMMARY -- INTRODUCTION -- The Debt Limit and the Treasury -- Why Have a Debt Limit? -- A BRIEF HISTORY OF THE FEDERAL DEBT LIMIT -- Origins of the Federal Debt Limit.

World War II and After -- THE DEBT CEILING IN THE LAST DECADE -- The Debt Limit Issue in 2002 -- Resolving the Debt Limit Issue in 2002 -- The Debt Limit Issue in 2003 -- The Debt Limit Issue in 2004 -- The Debt Limit Issue in 2005, 2006, and 2007 -- The Economic Slowdown and Federal Debt -- Fiscal Policy Considerations -- Raising the Debt Ceiling in 2008 and 2009 -- Revised Deficit Estimates -- CONCLUDING COMMENTS -- FURTHER READING -- APPENDIX. DEBT SUBJECT TO LIMIT BY MONTH SINCE SEPTEMBER 2001 -- ECONOMIC STIMULUS: ISSUES AND POLICIES -- SUMMARY -- THE CURRENT STATE OF THE ECONOMY -- THE 2009 STIMULUS PACKAGE -- Preliminary Discussions -- House Proposal -- Senate Proposal -- The American Recovery and Reinvestment Act of 2009 -- Discussion -- ISSUES SURROUNDING FISCAL STIMULUS -- The Magnitude of a Stimulus -- Bang for the Buck -- Timeliness -- Long-term Effects -- Should Stimulus be Targeted? -- Is Additional Fiscal Stimulus Needed? -- Policies Previously Adopted -- INTERVENTIONS FOR FINANCIAL FIRMS AND MARKETS -- GLOBAL OPERATIONS MANAGEMENT -- ARCHITECTURE OF CCPUL -- Research Motivation and Goal -- Problem Statement -- Result and Contribution -- Architecture of CCPUL -- Architecture -- INDEX.