The Devil's Derivatives
The Devil's Derivatives

Author: Nicholas Dunbar

Publisher: Harvard Business Press

Published: 2011-07-12

Total Pages: 310

ISBN-13: 1422143163

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A compelling narrative on what went wrong with our financial system—and who’s to blame. From an award-winning journalist who has been covering the industry for more than a decade, The Devil’s Derivatives charts the untold story of modern financial innovation—how investment banks invented new financial products, how investors across the world were wooed into buying them, how regulators were seduced by the political rewards of easy credit, and how speculators made a killing from the near-meltdown of the financial system. Author Nicholas Dunbar demystifies the revolution that briefly gave finance the same intellectual respectability as theoretical physics. He explains how bankers worldwide created a secret trillion-dollar machine that delivered cheap mortgages to the masses and riches beyond dreams to the financial innovators. Fundamental to this saga is how “the people who hated to lose” were persuaded to accept risk by “the people who loved to win.” Why did people come to trust and respect arcane financial tools? Who were the bankers competing to assemble the basic components into increasingly intricate machines? How did this process achieve its own unstoppable momentum—ending in collapse, bailouts, and a public outcry against the giants of finance? Provocative and intriguing, The Devil’s Derivatives sheds much-needed light on the forces that fueled the most brutal economic downturn since the Great Depression.

All the Devils Are Here
All the Devils Are Here

Author: Bethany McLean

Publisher: Penguin

Published: 2011-08-30

Total Pages: 503

ISBN-13: 1101551054

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Hailed as "the best business book of 2010" (Huffington Post), this New York Times bestseller about the 2008 financial crisis brings the devastation of the Great Recession to life. As soon as the financial crisis erupted, the finger-pointing began. Should the blame fall on Wall Street, Main Street, or Pennsylvania Avenue? On greedy traders, misguided regulators, sleazy subprime companies, cowardly legislators, or clueless home buyers? According to Bethany McLean and Joe Nocera, two of America's most acclaimed business journalists, many devils helped bring hell to the economy. All the Devils Are Here goes back several decades to weave the hidden history of the financial crisis in a way no previous book has done. It explores the motivations of everyone from famous CEOs, cabinet secretaries, and politicians to anonymous lenders, borrowers, analysts, and Wall Street traders. It delves into the powerful American mythology of homeownership. And it proves that the crisis ultimately wasn't about finance at all; it was about human nature. Just as McLean's The Smartest Guys in the Room was hailed as the best Enron book on a crowded shelf, so will All the Devils Are Here be remembered for finally making sense of the financial meltdown and its consequences.

Devil Take the Hindmost
Devil Take the Hindmost

Author: Edward Chancellor

Publisher: Penguin

Published: 2000-06-01

Total Pages: 401

ISBN-13: 0452281806

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A lively, original, and challenging history of stock market speculation from the 17th century to present day. Is your investment in that new Internet stock a sign of stock market savvy or an act of peculiarly American speculative folly? How has the psychology of investing changed—and not changed—over the last five hundred years? In Devil Take the Hindmost, Edward Chancellor traces the origins of the speculative spirit back to ancient Rome and chronicles its revival in the modern world: from the tulip scandal of 1630s Holland, to “stockjobbing” in London's Exchange Alley, to the infamous South Sea Bubble of 1720, which prompted Sir Isaac Newton to comment, “I can calculate the motion of heavenly bodies, but not the madness of people.” Here are brokers underwriting risks that included highway robbery and the “assurance of female chastity”; credit notes and lottery tickets circulating as money; wise and unwise investors from Alexander Pope and Benjamin Disraeli to Ivan Boesky and Hillary Rodham Clinton. From the Gilded Age to the Roaring Twenties, from the nineteenth century railway mania to the crash of 1929, from junk bonds and the Japanese bubble economy to the day-traders of the Information Era, Devil Take the Hindmost tells a fascinating story of human dreams and folly through the ages.

Summary of Bethany McLean & Joe Nocera's All the Devils Are Here
Summary of Bethany McLean & Joe Nocera's All the Devils Are Here

Author: Everest Media,

Publisher: Everest Media LLC

Published: 2022-07-21T22:59:00Z

Total Pages: 72

ISBN-13:

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Please note: This is a companion version & not the original book. Sample Book Insights: #1 The creation of the mortgage-backed security allowed Wall Street to scoop up loans made to people who were buying homes, and then resell the bundle to investors. #2 The American Dream is synonymous with homeownership. Government policy has long encouraged homeownership, and it has been a statement about values as well as upward mobility. #3 Fannie Mae and Freddie Mac were two important agents of government homeownership policy. They were both insulated from criticism. Fannie was born during the Great Depression, and its original role was to buy up mortgages that the Veterans Administration and the Federal Housing Administration were guaranteeing. #4 Wall Street developed securities that were much more appealing to investors than Ginnie Mae or Freddie Mac bonds. Tranching, or splitting the bond into different categories based on risk, was one method. The rating agencies became an important part of the process.

Between Debt and the Devil
Between Debt and the Devil

Author: Adair Turner

Publisher: Princeton University Press

Published: 2017-08-02

Total Pages: 330

ISBN-13: 0691175985

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Why our addiction to debt caused the global financial crisis and is the root of our financial woes Adair Turner became chairman of Britain's Financial Services Authority just as the global financial crisis struck in 2008, and he played a leading role in redesigning global financial regulation. In this eye-opening book, he sets the record straight about what really caused the crisis. It didn’t happen because banks are too big to fail—our addiction to private debt is to blame. Between Debt and the Devil challenges the belief that we need credit growth to fuel economic growth, and that rising debt is okay as long as inflation remains low. In fact, most credit is not needed for economic growth—but it drives real estate booms and busts and leads to financial crisis and depression. Turner explains why public policy needs to manage the growth and allocation of credit creation, and why debt needs to be taxed as a form of economic pollution. Banks need far more capital, real estate lending must be restricted, and we need to tackle inequality and mitigate the relentless rise of real estate prices. Turner also debunks the big myth about fiat money—the erroneous notion that printing money will lead to harmful inflation. To escape the mess created by past policy errors, we sometimes need to monetize government debt and finance fiscal deficits with central-bank money. Between Debt and the Devil shows why we need to reject the assumptions that private credit is essential to growth and fiat money is inevitably dangerous. Each has its advantages, and each creates risks that public policy must consciously balance.

Derivatives
Derivatives

Author: Fraser Malcolm

Publisher: FT Press

Published: 1999

Total Pages: 248

ISBN-13:

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This is the first book to deliver a total strategy for controlling derivatives risk. The strategy is integrated with the organization's wider systems, strategies and culture. Focusing on managing the future and not merely auditing the past, the book is designed to move risk management from a dead weight cost to a driver of value. The authors successfully integrate the key disciplines of finance, management and international law in a model for truly optimal risk control across the whole business

The Return of the Public in Global Governance
The Return of the Public in Global Governance

Author: Jacqueline Best

Publisher: Cambridge University Press

Published: 2014-02-20

Total Pages: 277

ISBN-13: 1107052955

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After decades of neoliberalism, the public is back - but in ways that challenge conventional wisdom about the public/private divide.

Other People's Houses
Other People's Houses

Author: Jennifer Taub

Publisher: Yale University Press

Published: 2014-05-27

Total Pages: 538

ISBN-13: 0300206941

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The clearest explanation yet of how the financial crisis of 2008 developed and why it could happen again In the wake of the financial meltdown in 2008, many claimed that it had been inevitable, that no one saw it coming, and that subprime borrowers were to blame. This accessible, thoroughly researched book is Jennifer Taub’s response to such unfounded claims. Drawing on wide-ranging experience as a corporate lawyer, investment firm counsel, and scholar of business law and financial market regulation, Taub chronicles how government officials helped bankers inflate the toxic-mortgage-backed housing bubble, then after the bubble burst ignored the plight of millions of homeowners suddenly facing foreclosure. Focusing new light on the similarities between the savings and loan debacle of the 1980s and the financial crisis in 2008, Taub reveals that in both cases the same reckless banks, operating under different names, received government bailouts, while the same lax regulators overlooked fraud and abuse. Furthermore, in 2013 the situation is essentially unchanged. The author asserts that the 2008 crisis was not just similar to the S&L scandal, it was a severe relapse of the same underlying disease. And despite modest regulatory reforms, the disease remains uncured: top banks remain too big to manage, too big to regulate, and too big to fail.

Developments in Information and Knowledge Management Systems for Business Applications
Developments in Information and Knowledge Management Systems for Business Applications

Author: Natalia Kryvinska

Publisher: Springer Nature

Published: 2023-04-07

Total Pages: 648

ISBN-13: 3031275063

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By highlighting ongoing progress in structural management, this book of our subseries encourages further research regarding the subject. Companies need sustainable solutions to the pressure to deal with high levels of risk and uncertainty. Many companies face this challenge and, therefore, must find new ways to deal with it. These solutions are often based on digital-influenced techniques. Previously understood knowledge, technologies, and data provide a huge assist with this goal.

Oxford Dictionary of English
Oxford Dictionary of English

Author: Angus Stevenson

Publisher: Oxford University Press, USA

Published: 2010-08-19

Total Pages: 2093

ISBN-13: 0199571120

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The Oxford Dictionary of English offers authoritative and in-depth coverage of over 350,000 words, phrases, and meanings. The foremost single-volume authority on the English language.