2008년 미국의 금융위기와 오바마 정부의 새로운 뉴딜?: 금융안정화 및 금융규제 개혁정책을 중심으로 = The Financial Crisis of 2008 in the U.S. and Obama’s New New Deal?

다국어 초록 (Multilingual Abstract)

The U.S Economy has been hit by an unprecedented crisis in 2008. The crisis of 2008 in the U.S is often compared with the Great Crash of 1929. This paper tries to address three interrelated issues. Firstly, it clarifies the crucial causes of this crisis and chains of link in the transmission mechanism of the crisis. Secondly, this essay is focusing on the policy reponses of the Obama’s government toward the crisis. Particularly, it is devoted to concentrating on the Fed’s emergency liquidity provision policy and Treasury’s TARP(Troubles Asset Relief Program). Finally, it addresses the financial regulatory reform by the Obama’s government.
From this analysis we can draw several lessons and policy implications. Above all, whereas the critical significance of Rooseve lt’s New Deal in the 1930s lies in the public and social control of the finance capitals in the Wall Street, Obama’s government has not shown any ability and will to curb financial powers including financial elites in New York so far. What brings this difference is the extent to which the respective governments are close and intimate with the finance capital in the Wall Street. Unfortunately, Obama and the Obama’s Governments are too close with them. More precisely speaking, the Obama’s Government is almost completely captured by the finance capital in the Wall Street.

국문 초록 (Abstract)

본 논문에서는 우선 2008년 금융위기의 핵심적 내용을 간단히 정리할 것이다. 다음으로 2008년 초 미국의 거대 투자은행 중의 하나였던 베어 스턴스(Bear Stearns) 사의 부실위기, 특히 2008년 가을 리먼 브라더스(Lehman Brothers) 사의 파산처리 이후 본격화되고 있는 미국 정부의 금융시스템 안정화 정책을 연방준비제도이사회(FRB, 이하 연준)의 긴급유동성 지원 정책과 미국 재무부의 공적자금 투입 정책으로 나누어 살펴볼 것이다.
셋째, 미국의 역대 어느 정부보다 광범위한 진보진영의 지지와 기대를 한 몸에 받고 탄생한 오바마 정부가 실제 금융위기 속에서 어떤 금융개혁정책을 취하고 있는지를 금융안정화 정책과 금융규제 개혁정책으로 나누어 살펴볼 것이다. 끝으로 오바마 정부의 금융개혁 정책을 대공황 직후 루즈벨트 대통령의 금융개혁 정책과 비교해 볼 것이다.

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