IDEAS home Printed from https://ideas.repec.org/h/spr/sprchp/978-3-642-03048-2_11.html
   My bibliography  Save this book chapter

Triumph of neoliberalism in finance

In: Hidden Collective Factors in Speculative Trading

Author

Listed:
  • Bertrand M. Roehner

    (University of Paris 6, LPTHE)

Abstract

“Hoarding has immobilized about $1.5 billion [representing 18 billion in dollars of 2000] of the national gold supply and has caused drastic deflation and credit contraction. A dollar hoarded destroys 5 to 12 dollars in potential credit. A nation-wide pledge was given to President Hoover by business organizations to convince their membership that investment in government bonds are as safe as the government itself and that with the creation of the Reconstruction Finance Corporation [on 22 January 1932] there is less likelihood of bank failures.” (New York Times 7 February 1932 p. 1) “Credit crunch pinches struggling companies. Corporations are in the grip of the worst credit crunch in a decade. The credit crunch is a collision between a slowing economy and the go-go days of just a few months ago, when it looked like almost any loan to a business was safe. The ability to raise cash has dried up for all but the most financially sound companies. It is likely to get worse before it gets better.” (USA Today, 5 January 2001)

Suggested Citation

  • Bertrand M. Roehner, 2010. "Triumph of neoliberalism in finance," Springer Books, in: Hidden Collective Factors in Speculative Trading, chapter 0, pages 229-259, Springer.
    • Handle: RePEc:spr:sprchp:978-3-642-03048-2_11
    DOI: 10.1007/978-3-642-03048-2_11
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:sprchp:978-3-642-03048-2_11. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.