# Insights on shadow banking from Professor Nouriel Roubini's book, "Crisis Economics," are spotlighted

1 Faculty News August 12, 2020 ![Business Today logo](/sites/default/files/styles/246w/public/assets/images/con_031168.jpg?itok=KZNNzWi1)>

Excerpt from [Business Today](https://www.businesstoday.in/opinion/columns/indian-economy-why-governments-promote-shadow-banking-nbfcs-non-banking-financial-companies/story/412786.html) -- "Shadow banking isn't exactly a neoliberal (radical right) concept, it existed earlier, but as Prof. [Nouriel Roubini](https://www.stern.nyu.edu/faculty/bio/nouriel-roubini) of New York University and Prof. Stephen Mihm of the University of Georgia pointed out in their 2010 book "Crisis Economics" it entered mainstream financing in a big way and turned the rules of the game in the neoliberal era."

[Read More](https://www.businesstoday.in/opinion/columns/indian-economy-why-governments-promote-shadow-banking-nbfcs-non-banking-financial-companies/story/412786.html)