Bankers knew the risks they were taking before the 2008 crisis
Top executives of US banks that experienced huge losses in the 2008 crisis sold their own shares well before the crisis hit, write Özlem Akın, José M. Marín and José-Luis Peydró.
Excessive risk-taking by banks is often associated with economic recession. A key question for policy and for the academic literature is why banks take excessive risk. There are two […]