Bank Bailouts: Bangor Professor cited in the Rolling Stone Magazine
The Rolling Stone, an American magazine published every two weeks that covers music, politics, and popular culture since 1967 has published an article in its issue dated January 17th 2013 by its award-winning contributing editor Matthew Taibbi on the “Secrets and Lies of the Bailout”.
Four years after the initial round of bank bailouts in the U.S., the Rolling Stone article discusses the ramifications of the Troubled Asset Relief Programme for the economy. The article draws on the expertise of research being done by Klaus Schaeck, Professor of Empirical Banking at Bangor Business School who works on several projects that examine the intended and unintended effects of bailouts. Klaus also served as a consultant for the World Bank on bailouts.
Following an interview with Matthew Taibbi, Klaus Schaeck is cited in the article stating that government intervention has increased bank risk taking.
The Rolling Stone article also features prominently in The Huffington Post.
Publication date: 9 January 2013