Predictable and Avoidable: Repairing Economic Dislocation and Preventing the Recurrence of Crisis

by Ivo Pezzuto

Much has been said and written about the 'financial tsunami' and subsequent economic dislocation that occurred in the opening decade of the 21st Century. Professor Ivo Pezzuto is described by business scholars as an expert on the global financial crisis. He has lectured about it at conferences and seminars; written some of the most read and quoted papers; contributed to what is considered the most authoritative book on the subject; and to one of the best known US-based blogs dealing with it. In Predictable and Avoidable, Dr Pezzuto offers business school students; academics; and industry experts in the fields of finance, risk management, audit, corporate governance, economics, and regulation, a truly independent and unbiased analysis of the financial crises starting in 2007 and one of the first fully considered expositions of the financial, governance and regulatory reforms needed for the future. Augmented with personal interviews involving selected global thought leaders and industry experts, the author's narrative focuses on the technical issues that led to the global crisis, but also addresses the human, cultural, and ethical aspects of the events from both sociological and managerial perspectives. The book exposes the root causes and contributes significantly to the debate about the change needed in the banking and finance industries and to supervisory frameworks and regulatory mechanisms. This analysis enables readers to understand that the crisis we have seen was predictable and should have been avoidable, and that a recurrence can be avoided, if lessons are learned and the right action taken.

438 pages, Hardcover

First published January 1, 2013

Reviews

[Daniela · Rating 5 out of 5]

A very insightful, detailed and compelling analysis of the financial crisis and its rooth causes. It proves that it was predictable and avoidable.

[Farhad Alameh · Rating 5 out of 5]

Predictable and Avoidable is an amazingly well-written book. It is an extremely fact based and insightful book which is easy to understand and at the same time extremely instructive.
Predictable and Avoidable fully explains what really went wrong and why the recent crisis happened.
The book fully illustrates the recent financial crisis from different perspectives. The interviews with the"global thought leaders" are amazingly interesting and a must read.
I recommend this book to anyone who wants to understand the root causes of the recent financial crisis and its aftermath. I am certain that this book can help everyone from finance students to professionals also leaders to enhance their understanding of the 2007-2009 financial crisis because the crisis was truly predictable and avoidable.
Predictable and avoidable is a must read and Dr. Pezzuto is truly a brilliant author.

[Amir Chibani · Rating 5 out of 5]

It's an excellent work which allows to encircle better the mechanisms of the crisis of 2008 through quality references, methodology applied and especially a work of precise analysis.
At the dawn of a new financial crisis which could not delay, I recommend strongly this book to all the actors of the modern finance.
This book can be an effective tool for the governments which want to reduce the risks of another industrial accident of the finance in spite of the deregulations and the doubtful techniques of the big investment banks.

[Danielle Cohn · Rating 5 out of 5]

Brilliant and revealing. A must-read on the financial crisis

[Jonathan Walsh · Rating 5 out of 5]

It's an amazing, unique, and revealing book! A must read. The most powerful, fact-based and independent analysis on the root causes of the 2007 - 2009 financial crisis and its aftermath. It includes also a very insightful chapter dedicated to interviews with prominent "thought leaders" on the topic of the financial crisis aiming to envision more resilient and sustainable corporate governance frameworks and financial regulations to prevent new systemic crises in the future. The suggestions provided in this book have a profound ethical content and value. I would recommend it to anyone who wants to master the important economic, financial and cultural events of our time and definitely to those who want to learn more on this topic from an emerging outstanding visionary "thought leader" and a brilliant author.

[Peter Rossner · Rating 5 out of 5]

A groundbreaking, fact-based, rigorous and revealing research on the 2008 Financial Crisis and Euro Zone debt crisis undertaken by "think tank" of global thought leaders of leading organizations and universities such as University of Chicago, Stanford University, NYU Stern, Wharton, London School of Economics, IESE, Bocconi, Università Cattolica, l'Université Paris-Sorbonne, Intesa Sanpaolo Bank, Unicredit, RBS, HSBC, Barclays, the Federal Reserve Bank, Financial Times, Bloomberg, etc. to identify the causes, consequences, and policy responses and lessons learned. The book also provides powerful policy recommendations to help prevent and mitigate new financial crises, to strengthen the economic and financial system and make them more resilient to new potential crises. A must read!

[Cathy · Rating 5 out of 5]

The book is so interesting !
The interviews with the "global thought leaders" are excellent as well as the suggestions for a better governance.
It is definitely recommended to all government strategy dept, to all economists, to all leaders at all ranks.