The Bruce G. Stevenson Company is delighted to announce the publication of Credit Crises: The Role of Excess Capital, authored by Bruce G. Stevenson and published by Gatekeeper Press.

 

Credit crises are catastrophic events in which loans and other credit instruments default on a large scale and banks suffer extreme losses.  Banks fail, sometimes in large numbers, threatening the viability of national economies and the global financial system. Massive loss of economic value ensues, creating great hardship.

 

The most recent credit crises, the 2007 Subprime Mortgage Crisis and 2007-2009 Great Recession, have striking parallels to the Roaring Twenties and the Great Depression. In both periods, rapid debt-driven increases in the value of real estate fueled speculation in housing and equity markets.  When the real estate bubbles burst, huge recessions and unemployment followed.

 

Credit Crises: The Role of Excess Capital provides the first definitive explanation for these repetitive catastrophes: the Excess Capital Hypothesis (ECH).  Credit Crises provides a detailed explanation of how excess debt capital has been the driver of past credit crises and shows how the ECH can be the definitive roadmap for preventing or mitigating future credit calamities.

 

Credit Crises: The Role of Excess Capital is available in hardcover, paperback, and ebook editions through Amazon, Barnes & Noble and other booksellers worldwide.

 

You may also order a signed copy (hardcover or paperback) through this website.