Posted at June 22, 2015, by Raleigh Addington, Comments Off on “Between Debt and the Devil”: Listen to Adair Turner draw from his new book to discuss the causes behind the financial crisis
Lord Adair Turner is one of the world’s most influential experts on global economic trends, finance, and macro prudential regulation. Speaking with Leo von Bülow-Quirk at Chartwell, Adair discusses the key messages behind his forthcoming book – “Between Debt and the Devil: Money, Credit, and Fixing Global Finance” (Princeton, October 2015).
Adair argues that whilst incompetent bankers and people who acted irresponsibly played a part in the 2008 financial crisis, the fundamental reason for the meltdown can be attributed to the extraordinary growth of private sector debt (both company and household) over the 60 years leading up to the crisis. He contends that most credit is not needed for economic growth, but rather drives real estate booms and busts and leads to financial crisis and depression.
In this podcast, Adair draws from his new book to outline why this build up of private debt was bound to produce a major financial crisis and difficult post-crisis recession.
For more information on how to book Adair Turner as a speaker for your conference or client event, please get in touch with Leo von Bülow-Quirk at email@example.com or call on +44 (0) 20 7792 8000.
Posted at May 27, 2015, by Raleigh Addington, Comments Off on “Between Debt and the Devil”: Adair Turner sets the record straight on the causes of the financial crisis
Lord Adair Turner is one of the world’s most influential experts on global economic trends, finance, and macro prudential regulation. A brilliant speaker, his forthcoming book – “Between Debt and the Devil: Money, Credit, and Fixing Global Finance” (Princeton, October 2015) – presents a characteristically daring analysis of the realities behind the financial crisis, and how to prevent it from happening again.
“Between Debt and the Devil” sets the record straight about what really caused the crisis. It didn’t happen because banks are too big to fail – our addiction to private debt is to blame. This eye opening book shows why we need to reject the assumption that private credit is essential to growth and fiat money is inevitably dangerous.
Adair was appointed Chairman of the UK’s Financial Services Authority just as the global financial crisis struck in 2008. In 2009 he produced the influential Turner Review, which recommended a thorough re-think of global banking regulation in response to the credit crunch and collapse of global banking liquidity.
He is now Senior Fellow at the Institute for New Economic Thinking – a think tank founded by George Soros – where he dedicates his time to answering the big questions facing macroeconomic policy-makers across the world.