The economics of money, banking, and financial markets

FYI  Why Do Issuers of Securities Pay to Have Their Securities Rated?   6

FYI Banksters  7

Can the Market Limit Exploitations of Conflicts of Interest? .............................................. 7

What Has Been Done to Remedy Conflicts of Interest? ...................................................... 9

Sarbanes-Oxley Act of 2002 ..................................................................................................  9

Global Legal Settlement of 2002 ..........................................................................................  10

Dodd-Frank Bill of 2010 .....................................................................................................  11

A Framework for Evaluating Policies to Remedy Conflicts of Interest ..........................  11

Approaches to Remedying Conflicts of Interest....................................................................  12

APPLICATION

  Evaluating Sarbanes-Oxley, the Global Legal Settlement,  

and the Dodd-Frank Bill .................................................................................... 14

Summary 16  •  Key Terms 17  •  Questions 17  •  Web Exercises 18  •   

Web References  18