Eds. Viral V. Acharya, Matthew Richardson. Praise for "Restoring Financial Stability" - 'The Stern School faculty is making an important contribution to the needed debate about how to go about reforming our broken financial system. Plainly, the insights of financial theory need to be better adapted to the practical requirements of maintaining reasonable stability of markets and institutions. "Restoring Financial Stability: How to Repair a Failed System" helps point the way' - Paul Volcker, Chairman of Economic Recovery Advisory Board and former Chairman of the Federal Reserve (1979-1987). 'Although we are yet in the midst of a gigantic global financial crisis, the academics who contributed to this timely and comprehensive compendium have provided us with not only an excellent analysis on each topic, but also timely recommendations as to how to move forward responsibly to develop the next generation of our financial-service industry architecture' - Myron Scholes, Chairman of Platinum Grove Asset Management and winner of the 1997 Nobel Prize in Economics. 'The authors provide important perspectives on both the causes of the global financial crisis as well as proposed solutions to ensure it doesn't happen again. A must-read for anyone interested or involved in the financial markets' - John Paulson, President and founder of Paulson & Co, Inc. 'No sustainable economic recovery can take hold until our tattered financial system is not just repaired but, more importantly, until its institutional framework is restructured and new rules of financial behavior are put in place. This book, the work of prominent academicians from a leading school of business, makes an important contribution to the framing of the problems and provides specific recommendations for their solutions. What makes this book especially valuable is its detailed evaluations and analyses covering many spectrums of the marketplace' - Henry Kaufman, President of Henry Kaufman & Co., Inc. 'This book consists of