Tamim Bayoumi, Deputy Director, Strategy, Policy, and Review Department, International Monetary Fund
Meet the Author - Tamim Bayoumi, IMF - Unfinished Business: The Unexplored Causes of the Financial Crisis and the Lessons Yet to be Learned
Unfinished Business redefines the origins of the 2008 North Atlantic financial crisis. What if the Global Financial Crisis started as one crisis that took place simultaneously across the North Atlantic rather than a series of crises in the U.S. and then Europe? Starting in 1980, the book examines how cumulative mistakes by financial regulators on both sides of the Atlantic created growing banking instability. It also explores the intellectual blind spots that allowed these problems to fester. Rather than portraying large Northern Euro area banks as innocent victims, Unfinished Business highlights the role they played in propagating the crisis via reckless lending into the US and Euro area periphery. The book explains how long-standing disagreements on the design of EMU allowed the Euro area crisis to morph into a longer, deeper, and more destructive fiscal-banking depression. Finally, Unfinished Business answers whether these deep-seated regulatory, intellectual, and Euro area flaws have been rectified.
About the speaker
Tamim Bayoumi is deputy director in the strategy, policy, and review department at the IMF. He wrote this book while he was a senior fellow at the Peterson Institute for International Economics. He lives in Washington, DC.