Book notes: The bankers’ new clothes, second edition, by Anat Admati and Martin Hellwig
A disjointed book where ‘I told you so’ new chapters add little to the excellent original analysis
Anat Admati and Martin Hellwig, The bankers’ new clothes, second edition, Princeton University Press, 2024, 624 pages
The first edition of The bankers’ new clothes appeared in 2013, at the tail end of the vigorous policy debate about how to reform the financial system following the global financial crisis. Writing in the Financial Times, Martin Wolf called it “the most important book to have come out of the financial crisis” (a judgement that is also quoted prominently in the blurb to the second
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