<DIV>The 2008 financial crisis cost $15 trillion in the U.S. stock and residential housing markets. The crash hit institutions and citizens, threatening economic survival, employment, and retirement prospects.<BR><BR>What went wrong? And how can we prevent a similar disaster? In Worth the Risk, Robert Merton--the Nobel Prize-winning economist whose work revolutionized financial markets--offers answers.<br><BR>Merton maintains that the magnitude of the crisis points to more fundamental forces at work than the greed, selfishness, or criminal behavior of some financial-system players and consumers. In clear, accessible language, he demystifies those forces. For example, he shows:<BR><BR>-Why the professionals underestimated the riskiness of mortgage-backed securities and corporate loan portfolios.<BR><BR>-How the financial innovations that brought home ownership to millions of Americans combined with other benign developments to inject huge, systemic risk into the U.S. economy.<BR><BR>Merton then identifies specific reforms that could improve regulation and transparency in the financial-services industry and head off a similar crash in the future. In particular, he offers strategies for minimizing risks in the innovation of financial instruments--which remains essential for our economy's health. And he suggests innovations that could open the door to security and growth for nations, corporations, and individuals.<BR><BR>Engaging and authoritative, Worth the Risk provides answers to the burning questions on everyone's mind?and paints an encouraging picture of a far more solid financial future.</div>