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Abstract

The Crash that launched a thousand fixes: Regulation of Consumer Credit after the Lending Revolution and the Credit Crunch


The authors examine the ways in which the credit crunch has simulated both immediate regulatory initiatives and more fundamental reflection on consumer credit regulation, with regulation of consumer credit markets remaining on the policy agenda of many countries. This paper assesses how conventional regulatory assumptions - that reputable firms do not place risky products on the market, that innovation is stifled by regulation and that regulators are not as well placed as the market to judge the value of products - have been challenged by the credit crunch.

Ramsay, Iain and Williams, Toni (2009) The Crash that launched a thousand fixes: Regulation of Consumer Credit after the Lending Revolution and the Credit Crunch. In: W G Hart Legal Workshop 2009: Law Reform and Financial Markets: Institutions and Governance, 23rd - 25th June 2009, Institute of Advanced Legal Studies, London.


Item Type:Conference or Workshop Item (Paper)
Additional Information:Paper presented by Iain Ramsay and Toni Williams, Professors of Law, Kent Law School, University of Kent, Canterbury, UK. An earlier draft of this paper was presented at the University of Tokyo, March 9, 2009. An updated and revised version of this paper appears in: K. Alexander and N. Moloney, Law Reform and Financial Markets (Cheltenham, Edward Elgar, 2011).
Subjects:Law
Keywords:Credit crunch, Consumer credit -- Law and legislation, Financial regulation
Divisions:Institute of Advanced Legal Studies
Collections:W G Hart Legal Workshop papers
Deposited By:Steven Whittle
Date Deposited:01 Mar 2012 17:44
Last Modified:01 Mar 2012 17:44
ItemID:3511
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License termsCreative Commons Attribution Non-commercial No Derivatives - Available to public
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