In Bed with Wall Street

In Bed with Wall Street

Author: Larry Doyle

Publisher: Macmillan

Published: 2014-01-07

Total Pages: 240

ISBN-13: 1137278722

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The Wall Street meltdown in 2008 brought the country to its knees and spawned nationwide protests against the lack of regulation and oversight in the financial industry. But the average American still fails to fully grasp what was--and still is--happening: that the inmates run the asylum. Larry Doyle exposes how financial executives, politicians, and even the regulators charged with overseeing the banks have conspired for personal gains while deceiving largely unprotected investors, consumers, and American taxpayers. He details the shocking corruption of the SEC, FINRA, and other "financial police, " painting them as meter maids who assess nominal fines and look the other way at even the most egregious abuses. Most importantly, he unveils the revolving door of Wall Street, where countless regulators (and plenty of legislators) are former or future employees of the very firms they're tasked with overseeing. Recent bombshells--such as multi-billion dollar trading losses at JP Morgan Chase, the manipulation of interest rates via the LIBOR scandal, and money laundering with North American drug cartels and rogue nations such as Iran--are symptomatic of this corrosive culture, which has decimated consumer and investor confidence. As the big banks fight tooth and nail to avoid real reforms, this book is a timely, important, and shocking look at a hopelessly compromised system, still defenseless against the next great crash.--From publisher description.


Liquidated

Liquidated

Author: Karen Ho

Publisher: Duke University Press

Published: 2009-07-13

Total Pages: 390

ISBN-13: 0822391376

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Financial collapses—whether of the junk bond market, the Internet bubble, or the highly leveraged housing market—are often explained as the inevitable result of market cycles: What goes up must come down. In Liquidated, Karen Ho punctures the aura of the abstract, all-powerful market to show how financial markets, and particularly booms and busts, are constructed. Through an in-depth investigation into the everyday experiences and ideologies of Wall Street investment bankers, Ho describes how a financially dominant but highly unstable market system is understood, justified, and produced through the restructuring of corporations and the larger economy. Ho, who worked at an investment bank herself, argues that bankers’ approaches to financial markets and corporate America are inseparable from the structures and strategies of their workplaces. Her ethnographic analysis of those workplaces is filled with the voices of stressed first-year associates, overworked and alienated analysts, undergraduates eager to be hired, and seasoned managing directors. Recruited from elite universities as “the best and the brightest,” investment bankers are socialized into a world of high risk and high reward. They are paid handsomely, with the understanding that they may be let go at any time. Their workplace culture and networks of privilege create the perception that job insecurity builds character, and employee liquidity results in smart, efficient business. Based on this culture of liquidity and compensation practices tied to profligate deal-making, Wall Street investment bankers reshape corporate America in their own image. Their mission is the creation of shareholder value, but Ho demonstrates that their practices and assumptions often produce crises instead. By connecting the values and actions of investment bankers to the construction of markets and the restructuring of U.S. corporations, Liquidated reveals the particular culture of Wall Street often obscured by triumphalist readings of capitalist globalization.


No Beast So Fierce

No Beast So Fierce

Author: Dane Huckelbridge

Publisher: HarperCollins

Published: 2019-02-05

Total Pages: 310

ISBN-13: 0062678876

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The astonishing true story of the man-eating tiger that claimed a record 437 human lives “Thrilling. Fascinating. Exciting.” —Wall Street Journal • "Riveting. Haunting.” —Scientific American Nepal, c. 1900: A lone tigress began stalking humans, moving like a phantom through the lush foothills of the Himalayas. As the death toll reached an astonishing 436 lives, a young local hunter was dispatched to stop the man-eater before it struck again. This is the extraordinary true story of the "Champawat Man-Eater," the deadliest animal in recorded history. One part pulse-pounding thriller, one part soulful natural history of the endangered Royal Bengal tiger, No Beast So Fierce is Dane Huckelbridge’s gripping nonfiction account of the Champawat tiger, which terrified northern India and Nepal from 1900 to 1907, and Jim Corbett, the legendary hunter who pursued it. Huckelbridge’s masterful telling also reveals that the tiger, Corbett, and the forces that brought them together are far more complex and fascinating than a simple man-versus-beast tale. At the turn of the twentieth century as British rule of India tightened and bounties were placed on tiger’s heads, a tigress was shot in the mouth by a poacher. Injured but alive, it turned from its usual hunting habits to easier prey—humans. For the next seven years, this man-made killer terrified locals, growing bolder with every kill. Colonial authorities, desperate for help, finally called upon Jim Corbett, a then-unknown railroad employee of humble origins who had grown up hunting game through the hills of Kumaon. Like a detective on the trail of a serial killer, Corbett tracked the tiger’s movements in the dense, hilly woodlands—meanwhile the animal shadowed Corbett in return. Then, after a heartbreaking new kill of a young woman whom he was unable to protect, Corbett followed the gruesome blood trail deep into the forest where hunter and tiger would meet at last. Drawing upon on-the-ground research in the Indian Himalayan region where he retraced Corbett’s footsteps, Huckelbridge brings to life one of the great adventure stories of the twentieth century. And yet Huckelbridge brings a deeper, more complex story into focus, placing the episode into its full context for the first time: that of colonialism’s disturbing impact on the ancient balance between man and tiger; and that of Corbett’s own evolution from a celebrated hunter to a principled conservationist who in time would earn fame for his devotion to saving the Bengal tiger and its habitat. Today the Corbett Tiger Reserve preserves 1,200 km of wilderness; within its borders is Jim Corbett National Park, India’s oldest and most prestigious national park and a vital haven for the very animals Corbett once hunted. An unforgettable tale, magnificently told, No Beast So Fierce is an epic of beauty, terror, survival, and redemption for the ages.


Wall Street Wars

Wall Street Wars

Author: Richard Farley

Publisher: Simon and Schuster

Published: 2015-05-12

Total Pages: 423

ISBN-13: 1941393845

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In the depths of the Great Depression, Franklin Delano Roosevelt’s administration set out to radically remake America’s financial system—but Wall Street was determined to stop them. In 1933, the American economy was in shambles, battered by the 1929 stock market crash and limping from the effects of the Great Depression. But the incoming administration of Franklin Delano Roosevelt, elected on a wave of anxiety and hope, stormed Washington on a promise to save the American economy—and remake the entire American financial system. It was the opening salvo in a long war between Wall Street and Washington. Author Richard Farley takes a unique and detailed look at the pitched battles that followed—the fist fights, the circus-like stunts, the conmen and crooks, and the unlikely heroes—and shaped American capitalism. With a disparate cast of characters including Joseph P. Kennedy, J.P. Morgan, Huey Long, Babe Ruth, and Henry Ford (who refused to bail out his son’s bank, thus precipitating the meltdown of the entire banking system), Farley vividly traces the history of modern American finance and the establishment of a financial system still bitterly debated on Capitol Hill.


Capital Ideas

Capital Ideas

Author: Peter L. Bernstein

Publisher: John Wiley & Sons

Published: 2012-09-11

Total Pages: 375

ISBN-13: 1118523989

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Capital Ideas traces the origins of modern Wall Street, from the pioneering work of early scholars and the development of new theories in risk, valuation, and investment returns, to the actual implementation of these theories in the real world of investment management. Bernstein brings to life a variety of brilliant academics who have contributed to modern investment theory over the years: Louis Bachelier, Harry Markowitz, William Sharpe, Fischer Black, Myron Scholes, Robert Merton, Franco Modigliani, and Merton Miller. Filled with in-depth insights and timeless advice, Capital Ideas reveals how the unique contributions of these talented individuals profoundly changed the practice of investment management as we know it today.


Gods of Money

Gods of Money

Author: William Engdahl

Publisher: Edition.Engdahl

Published: 2010-05

Total Pages: 398

ISBN-13: 9783981326314

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The dollar financial system of Wall Street was born not at a conference in Bretton Woods New Hampshire in 1944. It was born in the first days of August, 1945 with the dropping of the atomic bomb on Hiroshima and Nagasaki. After that point the world was in no doubt who was the power to reckon with. This book is no ordinary book about money and finance. Rather it traces the history of money as an instrument of power; it traces the evolution of that power in the hands of a tiny elite that regards themselves as, quite literally, gods-The Gods of Money. How these gods abused their power and how they systematically set out to control the entire world is the subject.


The Inefficient Stock Market

The Inefficient Stock Market

Author: Robert A. Haugen

Publisher: Pearson

Published: 2002

Total Pages: 0

ISBN-13: 9780130323668

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Sparked with wit and humor, this clever and insightful book provides clear evidence that the stock market is inefficient. In the author's view, models based on rational economic behavior cannot explain important aspects of market behavior. The book tackles important issues in today's financial market in a highly conversational and entertaining manner that will appeal to most readers. Chapter topics include: estimating expected return with the theories of modern finance, estimating portfolio risk and expected return with ad hoc factor models, payoffs to the five families, predicting future stock returns with the expected-return factor model, super stocks and stupid stocks, the international results, the topography of the stock market, the positive payoffs to cheapness and profitability, the negative payoff to risk, and the forces behind the technical payoffs to price-history. For anyone who wants to learn more about today's financial markets.


House of Cards

House of Cards

Author: William D. Cohan

Publisher: Anchor

Published: 2010-02-09

Total Pages: 610

ISBN-13: 0767930894

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A blistering narrative account of the negligence and greed that pushed all of Wall Street into chaos and the country into a financial crisis. At the beginning of March 2008, the monetary fabric of Bear Stearns, one of the world’s oldest and largest investment banks, began unraveling. After ten days, the bank no longer existed, its assets sold under duress to rival JPMorgan Chase. The effects would be felt nationwide, as the country suddenly found itself in the grip of the worst financial mess since the Great Depression. William Cohan exposes the corporate arrogance, power struggles, and deadly combination of greed and inattention, which led to the collapse of not only Bear Stearns but the very foundations of Wall Street.


The Monster

The Monster

Author: Michael W. Hudson

Publisher: Macmillan

Published: 2010-10-26

Total Pages: 397

ISBN-13: 1429940042

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Who killed the economy? A page-turning, true-crime exposé of the subprime salesmen and Wall Street alchemists who produced the biggest financial scandal in American history "It's hard to have a guilty conscience if you don't have a conscience. Anything that benefited production - that benefited me and benefited my wallet - I'd do it." The sales force at Ameriquest Mortgage took this philosophy to heart. They watched the Hollywood white-collar-crime flick "Boiler Room" as a training tape, studying how to pitch overpriced deals to unsuspecting home owners. They learned how to forge signatures on mortgage paperwork and create fake documents in "cut-and-paste" operations they dubbed "The Lab" or "The Art Department." In this stunning narrative, award-winning reporter Michael W. Hudson reveals the story of the rise and fall of the subprime mortgage business by chronicling the rise and fall of two corporate empires: Ameriquest and Lehman Brothers. As the biggest subprime lender and Wall Street's biggest patron of subprime, Ameriquest and Lehman did more than any other institutions to create the feeding frenzy that emboldened mortgage pros to flood the nation with high-risk, high-profit home loans. It's a tale populated by a remarkable cast of the characters: a shadowy billionaire who created the subprime industry out of the ashes of the 1980s S&L scandal; Wall Street executives with an insatiable desire for product; struggling home owners ensnared in the most ingenious of traps; lawyers and investigators who tried to expose the fraud; politicians and bureaucrats who turned a blind eye; and, most of all, the drug-snorting, high-living salesmen who tell all about the money they made, the lies they told, the deals they closed. Provocative and gripping, The Monster is a searing exposé of the bottom-feeding fraud and top-down greed that fueled the financial collapse.


The Werewolf of Wall Street

The Werewolf of Wall Street

Author: Gary Greenberg

Publisher:

Published: 2009-12

Total Pages: 216

ISBN-13: 9780981496627

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Left-winger Alex Mallum has strange dreams and unexplained blackouts. His rival, Luke Fenris, is the idol of Wall Street right-wingers. Each has secret revolutionary plans to change the face of American politics. Only Ludwig von Dracula knows the secret of the homicidal beast that binds these two rivals together but he's not sure he should intervene.