Contributor(s): Professor Anat Admati | The past few years have shown that risks in banking can impose significant costs on the economy. Many claim, however, that a safer banking system would require sacrificing lending and economic growth. Anat Admati examines this claim and the narratives used by bankers, politicians, and regulators to rationalize the lack of reform, exposing them as invalid. Admati calls for ambitious reform and outlines specific and highly beneficial steps that can be taken immediately. Anat Admati is the George G. C. Parker Professor of Finance and Economics at Stanford's Graduate School of Business. She serves on the FDIC Systemic Resolution Advisory Committee and has contributed to the Financial Times, Bloomberg News, and the New York Times. This event marks the publication of her new book The Bankers' New Clothes: What's Wrong with Banking and What to Do about It.