The financial crisis in 2008 is of such epic proportions that even astronomical amounts spent to address the problem have so far been insufficient to resolve it. Besides the wellpublicized $700 billion approved by Congress in the autumn of the year, the Federal Reserve had already attempted to bail out institutions and markets with about $1.3 trillion in investments in various risky assets, inc...

There are several facilities provided by financing institutions, until now leasing has become the most frequently used facility community. Leasing is a type of fiduciary guarantee, where in agreement Customer Financing must pay an installment fee against guarantee object can be said to paid off. In practice, it often found that defaults with discontinued installments and does not provide volunt...

This paper identi…es a cost of stress test disclosure that stems from the facilitating role that stress test information can potentially play in coordinating banks into taking excessive risk. We examine a model of risk taking by banks, the concurrent failure of which may induce a bailout decision by a regulator if the number of failing banks is large enough. We …nd a “if ain’t broken don’t …x i...

We document implementation and enforcement activities undertaken by high schools and health units with regard to the 1994 ban on smoking on school property in Ontario. Telephone interviews were conducted in the early summer of 1996 with 213 high school administrators and 38 tobacco enforcement personnel in health units. While some schools are unclear about enforcement responsibility, most are m...

Although the debate on financial stability in Europe focuses at what level action should be taken (centralised vs decentralised), the key issue seems what kind of action should be taken to resolve a financial crisis. Two types of arrangements for financial stability (labelled loosely as the market-led and the state-led approach) can be distinguished. Before one argues that ‘some action’ may be ...