The current crisis is emerging as the most severe downturn since the Great Depression. This book examines its cause, the efforts to contain the crisis and proposes a cure that will limit the risk that such crises could recur in the future.

THOMAS F. HUERTAS is Director, Banking Sector for the Financial Services Authority, UK. Previously, he worked for Citigroup for nearly 30 years in various roles, including senior policy and business positions. He has written extensively on the current crisis, credit derivatives, insurance and retail banking.