Banking On Failure

Author : Richard S Collier
Publisher : Oxford University Press
ISBN 13 : 0192603477
Total Pages : 368 pages
Book Rating : 4.70/5 ( download)

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Download or read book Banking on Failure written by Richard S Collier and published by Oxford University Press. This book was released on 2020-09-01 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: Banks seem all too often involved in cases of misconduct, particularly involving the exploitation of tax systems. Banking on Failure explains why and how banks "game the system", accounting for these misconduct cases and analysing the wider implications for financial markets and tax systems. Banking on Failure: Cum-Ex and Why and How Banks Game the System explains why banks design and use structured products to exploit tax systems. It describes one of the biggest and most complex cases - the "cum-ex" scandal - in which hundreds of banks and funds from across the globe participated in the raid on the public exchequers of a number of countries, with losses in the tens of billions of euros. The book then draws on the significance of this case study, and what this tells us about modern banks and their interactions with tax systems. Banking on Failure demonstrates why the exploitation of tax systems by banks is an inevitable feature of the financial markets landscape, and suggests possible responses.

Author : Richard S. Collier
Publisher :
ISBN 13 : 9780191892035
Total Pages : 378 pages
Book Rating : 4.33/5 ( download)

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Download or read book Banking on Failure written by Richard S. Collier and published by . This book was released on 2020 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text explains why and how banks 'game the system'. It accounts for why banks are so often involved in cases of misconduct, and why those cases often involve the exploitation of tax systems.

Author : Kirsten Grind
Publisher : Simon and Schuster
ISBN 13 : 1451617933
Total Pages : 401 pages
Book Rating : 4.31/5 ( download)

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Download or read book The Lost Bank written by Kirsten Grind and published by Simon and Schuster. This book was released on 2013-07-16 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on reporting for which the author was named a finalist for the Pulitzer Prize and the Gerald Loeb Award, this book traces the rise and spectacular fall of Washington Mutual.

Author : Gary H. Stern
Publisher : Rowman & Littlefield
ISBN 13 : 0815796366
Total Pages : 247 pages
Book Rating : 4.67/5 ( download)

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Download or read book Too Big to Fail written by Gary H. Stern and published by Rowman & Littlefield. This book was released on 2004-02-29 with total page 247 pages. Available in PDF, EPUB and Kindle. Book excerpt: The potential failure of a large bank presents vexing questions for policymakers. It poses significant risks to other financial institutions, to the financial system as a whole, and possibly to the economic and social order. Because of such fears, policymakers in many countries—developed and less developed, democratic and autocratic—respond by protecting bank creditors from all or some of the losses they otherwise would face. Failing banks are labeled "too big to fail" (or TBTF). This important new book examines the issues surrounding TBTF, explaining why it is a problem and discussing ways of dealing with it more effectively. Gary Stern and Ron Feldman, officers with the Federal Reserve, warn that not enough has been done to reduce creditors' expectations of TBTF protection. Many of the existing pledges and policies meant to convince creditors that they will bear market losses when large banks fail are not credible, resulting in significant net costs to the economy. The authors recommend that policymakers enact a series of reforms to reduce expectations of bailouts when large banks fail.

Author : Robert Pasley
Publisher : Routledge
ISBN 13 : 1351531794
Total Pages : 343 pages
Book Rating : 4.95/5 ( download)

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Download or read book Anatomy of a Banking Scandal written by Robert Pasley and published by Routledge. This book was released on 2017-07-05 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the early 1990s, the First National Bank of Keystone in West Virginia began buying and securitizing subprime mortgages from all over the country, and quickly grew from a tiny bank with just $100 million in assets to over $1.1 billion. For three years, it was listed as the most profitable large community bank in the country. It was all a fraud. All of the securitization deals the bank entered into lost money. To hide that fact, bank insiders started cooking the books, and concealing that they were also embezzling millions of dollars from the bank. This was all hidden from the bank's attorneys and auditors, federal bank examiners, and even the board of directors of the bank. To keep the examiners at bay, the bank insiders did everything possible to avoid giving them access to documents they were entitled to see, documents they knew would sink their scheme. The head of the bank even went so far as to bury four large truckloads of documents in a ditch on her ranch. Robert S. Pasley explores the failure of the First National Bank of Keystone, the intrigue involved, and the lessons that could have been learnedand still can be learnedabout how banks operate, how federal banking regulators supervise financial institutions, how agencies interact with one another, and how such failures can be avoided in the future.

Author : Joan Edelman Spero
Publisher : Beard Books
ISBN 13 : 9781893122345
Total Pages : 252 pages
Book Rating : 4.44/5 ( download)

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Download or read book The Failure of the Franklin National Bank written by Joan Edelman Spero and published by Beard Books. This book was released on 1999 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Charles W. Calomiris
Publisher : Princeton University Press
ISBN 13 : 0691168350
Total Pages : 584 pages
Book Rating : 4.57/5 ( download)

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Download or read book Fragile by Design written by Charles W. Calomiris and published by Princeton University Press. This book was released on 2015-08-04 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why stable banking systems are so rare Why are banking systems unstable in so many countries—but not in others? The United States has had twelve systemic banking crises since 1840, while Canada has had none. The banking systems of Mexico and Brazil have not only been crisis prone but have provided miniscule amounts of credit to business enterprises and households. Analyzing the political and banking history of the United Kingdom, the United States, Canada, Mexico, and Brazil through several centuries, Fragile by Design demonstrates that chronic banking crises and scarce credit are not accidents. Calomiris and Haber combine political history and economics to examine how coalitions of politicians, bankers, and other interest groups form, why they endure, and how they generate policies that determine who gets to be a banker, who has access to credit, and who pays for bank bailouts and rescues. Fragile by Design is a revealing exploration of the ways that politics inevitably intrudes into bank regulation.

Author :
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.93/5 ( download)

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Download or read book Bank Failure written by and published by . This book was released on 1988 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Arjun Appadurai
Publisher : University of Chicago Press
ISBN 13 : 022631877X
Total Pages : 189 pages
Book Rating : 4.76/5 ( download)

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Download or read book Banking on Words written by Arjun Appadurai and published by University of Chicago Press. This book was released on 2016 with total page 189 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this short but ambitious book, Arjun Appadurai argues that the failure of the financial system in 2007-08 in the United States was primarily a failure of language. This argument does not deny that greed, ignorance, weak regulation, and irresponsible risk-taking were important factors in the collapse. But the new role of language in the marketplace, for Appadurai, is the condition of possibility for all these more easily identifiable flaws. Attempts to rectify the social pathologies of contemporary finance must address that failure of language. "Banking on Words "focuses on derivatives as the distinctive innovation of our financial era. Derivatives are written promises concerning the uncertain future prices of financial assets and the substance of these contracts is expressed in terms of money. The recent failure of derivatives markets was systematic and should be understood as failed promises. While it is well-known that derivatives pile risk on risk with little basis in real production and trade, Appadurai reveals this process in a fresh light from which some policy conclusions may be drawn. While critical of derivative finance s present social infrastructure and supporting ideology, Appadurai acknowledges its capacity for creating vast new forms of wealth and asks the crucial question: if we want access to that wealth, what kind of social arrangements would we need to make sure that it benefits all of society rather than reinforcing a system that benefits the few who are already well off? His bold answer involves not the repair of the force of promises but rather the repair and reconstruction of the idea of the individual to enable new sorts of solidarity between dividuals, agents whose very partiality may allow for new aggregations of aspiration, interest and affiliation. This amounts to nothing less than a new ideology of sociality."

Author : Roger Lowenstein
Publisher : Random House Trade Paperbacks
ISBN 13 : 0375758259
Total Pages : 290 pages
Book Rating : 4.56/5 ( download)

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Download or read book When Genius Failed written by Roger Lowenstein and published by Random House Trade Paperbacks. This book was released on 2001-10-09 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: “A riveting account that reaches beyond the market landscape to say something universal about risk and triumph, about hubris and failure.”—The New York Times NAMED ONE OF THE BEST BOOKS OF THE YEAR BY BUSINESSWEEK In this business classic—now with a new Afterword in which the author draws parallels to the recent financial crisis—Roger Lowenstein captures the gripping roller-coaster ride of Long-Term Capital Management. Drawing on confidential internal memos and interviews with dozens of key players, Lowenstein explains not just how the fund made and lost its money but also how the personalities of Long-Term’s partners, the arrogance of their mathematical certainties, and the culture of Wall Street itself contributed to both their rise and their fall. When it was founded in 1993, Long-Term was hailed as the most impressive hedge fund in history. But after four years in which the firm dazzled Wall Street as a $100 billion moneymaking juggernaut, it suddenly suffered catastrophic losses that jeopardized not only the biggest banks on Wall Street but the stability of the financial system itself. The dramatic story of Long-Term’s fall is now a chilling harbinger of the crisis that would strike all of Wall Street, from Lehman Brothers to AIG, a decade later. In his new Afterword, Lowenstein shows that LTCM’s implosion should be seen not as a one-off drama but as a template for market meltdowns in an age of instability—and as a wake-up call that Wall Street and government alike tragically ignored. Praise for When Genius Failed “[Roger] Lowenstein has written a squalid and fascinating tale of world-class greed and, above all, hubris.”—BusinessWeek “Compelling . . . The fund was long cloaked in secrecy, making the story of its rise . . . and its ultimate destruction that much more fascinating.”—The Washington Post “Story-telling journalism at its best.”—The Economist