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Press Release

Thursday 9 October 2008

The Origin of Financial Crises

Harriman House


"We are in the cardiac arrest stage of the crisis..."


"It's ridiculous for central banks to fixate on controlling consumer price
inflation, while ignoring enormous rates of house price inflation."
Dr. George Cooper, October 2008


Why do we find ourselves in yet another financial crisis? What can today's events teach us in order to avoid repeating the same mistakes again? In his first book The Origin of Financial Crises, Dr. George Cooper attempts to answer these questions by looking at the processes which generate financial bubbles.

"We are in the cardiac arrest phase of the crisis where the immediate job is to prevent the wholesale collapse of the credit system. The only way to do this now is with massive injections of taxpayers' money and coordinated government action, fortunately this is now starting to happen." says Dr. Cooper.

He continues: "Our longer term economic health depends on how we handle the convalescence phase. Kneejerk regulation should be avoided and instead we should take a long hard look at central bank policy all around the world. The current crisis represents the wholesale failure of monetary policy."

Dr. Cooper's timely publication has been well received by financial journalists worldwide:

"A must-read on the origins of the crisis...by far the most cogent and reasoned of the modern-day 'credit excess' school."
Philip Coggan, The Economist

"I welcome a short and well-written book, The Origin of Financial Crises (Harriman House £16.99) by George Cooper, which attempts to relate apparently esoteric financial issues to elementary economic theory."
Samuel Brittan, Financial Times


Ends


ABOUT THE AUTHOR:

Dr. George Cooper is a fund manager at Alignment Investors. He was born in Sunderland and studied at Durham University. He has worked for Goldman Sachs, Deutsche Bank and as the London head of interest rate research at JPMorgan.


ADDITIONAL INFORMATION:

More details can be found online at: www.harriman-house.com/originfinancialcrises

For further information on this book or its author, please contact Helen McCusker in the PR department at Harriman House:

Tel: +44 (0)1730 233885
Email: pr@harriman-house.com

Harriman House Ltd, 3A Penns Road, Petersfield, Hampshire, GU32 2EW

The Origin of Financial Crises

The Origin of Financial Crises
Central banks, credit bubbles and the efficient market fallacy
By George Cooper

Published: 26th August 2008




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