Governing the modern corporation

by Smith, Roy C

"Nearly seventy years after the last great stock market bubble and collapse in 1929, another bubble emerged and burst in the late 1990s and early 2000s, despite a protective layer of regulation designed since the 1930s to help prevent such things - or at least contain the damage. The most recent bubble was enormous, reflecting nearly twenty years of double-digit stock market growth, and its bursting had predictably painful consequences. The search for culprits and market excesses began quickly, and many were discovered. The targets included not only a number of overreaching corporations, but also their auditors, investment bankers, lawyers, and their investors. Governing the Modern Corporation analyzes the structure of market capitalism and what went wrong during one of the must turbulent times in American and indeed global finance." "Smith and Walter begin by examining the developments that have made modern financial markets - now capitalized globally at about $70 trillion - so enormo