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Author: John Kay
Publisher: PublicAffairs
ISBN: 1610396049
Category : Business & Economics
Languages : en
Pages : 296
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Book Description
The finance sector of Western economies is too large and attracts too many of the smartest college graduates. Financialization over the past three decades has created a structure that lacks resilience and supports absurd volumes of trading. The finance sector devotes too little attention to the search for new investment opportunities and the stewardship of existing ones, and far too much to secondary-market dealing in existing assets. Regulation has contributed more to the problems than the solutions. Why? What is finance for? John Kay, with wide practical and academic experience in the world of finance, understands the operation of the financial sector better than most. He believes in good banks and effective asset managers, but good banks and effective asset managers are not what he sees. In a dazzling and revelatory tour of the financial world as it has emerged from the wreckage of the 2008 crisis, Kay does not flinch in his criticism: we do need some of the things that Citigroup and Goldman Sachs do, but we do not need Citigroup and Goldman to do them. And many of the things done by Citigroup and Goldman do not need to be done at all. The finance sector needs to be reminded of its primary purpose: to manage other people's money for the benefit of businesses and households. It is an aberration when the some of the finest mathematical and scientific minds are tasked with devising algorithms for the sole purpose of exploiting the weakness of other algorithms for computerized trading in securities. To travel further down that road leads to ruin. A Financial Times Book of the Year, 2015 An Economist Best Book of the Year, 2015 A Bloomberg Best Book of the Year, 2015
Author: John Kay
Publisher: PublicAffairs
ISBN: 1610396049
Category : Business & Economics
Languages : en
Pages : 296
Get Book Here
Book Description
The finance sector of Western economies is too large and attracts too many of the smartest college graduates. Financialization over the past three decades has created a structure that lacks resilience and supports absurd volumes of trading. The finance sector devotes too little attention to the search for new investment opportunities and the stewardship of existing ones, and far too much to secondary-market dealing in existing assets. Regulation has contributed more to the problems than the solutions. Why? What is finance for? John Kay, with wide practical and academic experience in the world of finance, understands the operation of the financial sector better than most. He believes in good banks and effective asset managers, but good banks and effective asset managers are not what he sees. In a dazzling and revelatory tour of the financial world as it has emerged from the wreckage of the 2008 crisis, Kay does not flinch in his criticism: we do need some of the things that Citigroup and Goldman Sachs do, but we do not need Citigroup and Goldman to do them. And many of the things done by Citigroup and Goldman do not need to be done at all. The finance sector needs to be reminded of its primary purpose: to manage other people's money for the benefit of businesses and households. It is an aberration when the some of the finest mathematical and scientific minds are tasked with devising algorithms for the sole purpose of exploiting the weakness of other algorithms for computerized trading in securities. To travel further down that road leads to ruin. A Financial Times Book of the Year, 2015 An Economist Best Book of the Year, 2015 A Bloomberg Best Book of the Year, 2015
Author: Louis Dembitz Brandeis
Publisher: Binker North
ISBN:
Category : Business & Economics
Languages : en
Pages : 250
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Book Description
The great monopoly in this country is money. So long as that exists, our old variety and individual energy of development are out of the question. A great industrial nation is controlled by its system of credit.
Author: Jerry Sterner
Publisher: Hal Leonard Corporation
ISBN: 1557830622
Category : Drama
Languages : en
Pages : 111
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Book Description
This play concerns the intended hostile take-over of a deserving but obsolescent Rhode Island family business ... --dust jacket.
Author: Justin Cartwright
Publisher: Bloomsbury Publishing USA
ISBN: 1608195414
Category : Fiction
Languages : en
Pages : 274
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Book Description
In a world still uneasy after the financial turmoil of 2008, Justin Cartwright puts a human face on the dishonesties and misdeeds of the bankers who imperiled us. Tubal and Co. is a small, privately owned bank in England. As the company's longtime leader, Sir Harry Tubal, slips into senility, his son Julian takes over the reins-and not all is well. The company's hedge fund now owns innumerable toxic assets, and Julian fears what will happen when their real value is discovered. Artair Macleod, an actor manager whose ex-wife, Fleur, was all but stolen by Sir Harry, discovers that his company's monthly grant has not been paid by Tubal. Getting no answers from Julian, he goes to the local press, and an eager young reporter begins asking questions. Bit by bit, the reporter discovers that the grant money is in fact a payoff from Fleur, written off by the bank as a charitable donation, and a scandal breaks. Julian's temperament and judgment prove a bad fit for the economic forces of the era, and the family business plunges into chaos as he tries to hide the losses and massage the balance sheet.A story both cautionary and uncomfortably familiar, Other People's Money is not a polemic but a tale of morality and hubris, with the Tubal family ultimately left searching only for closure. Bold, humane, urbane, full of rich characters, and effortlessly convincing, this is a novel that reminds us who we are and how we got ourselves here.
Author: Desiree Smith-Daughety
Publisher: Atlantic Publishing Company
ISBN: 1601382146
Category : Business & Economics
Languages : en
Pages : 290
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Book Description
Using other people s money is becoming an increasingly common practice. In fact, you have probably used other people s money at some point without even realizing it. Even Donald Trump used other people's money to finance his investments. Now, with this book, you too can knowingly use other people's money to increase your wealth. Using other people s money, or OPM, can be a risky strategy, but Using Other's People Money to Get Rich will show you how to downplay the risks, avoid the common pitfalls, and minimize your costs. You will learn about various sources of OPM, including lending institutions, venture capitalists, angel investors, the federal government, investment banks, savings and loan associations, insurance companies, and credit unions. You will also learn how to meet the source's investment criteria, which will help ensure that you acquire OPM for your needs. In addition, you will become knowledgeable about the benefits of using OPM, debt and equity transactions, performing due diligence and research, the short- and long-term costs, and securities laws. You will also learn how to use OPM to pay off debts and invest in paper assets, the stock market, rental properties, and part-time, home-based, or Web-based businesses. We spent hours interviewing investors to learn how they used OPM to make money, and here, we provide you with all the secrets, techniques, and strategies you need to know in order to make millions. Atlantic Publishing is a small, independent publishing company based in Ocala, Florida. Founded over twenty years ago in the company president's garage, Atlantic Publishing has grown to become a renowned resource for non-fiction books. Today, over 450 titles are in print covering subjects such as small business, healthy living, management, finance, careers, and real estate. Atlantic Publishing prides itself on producing award winning, high-quality manuals that give readers up-to-date, pertinent information, real-world examples, and case studies with expert advice. Every book has resources, contact information, and web sites of the products or companies discussed.
Author: Nomi Prins
Publisher: The New Press
ISBN: 1595586628
Category : Business & Economics
Languages : en
Pages : 370
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Book Description
Critical, independent voices are seldom found within the citadels of international finance. That's what makes Nomi Prins unique. During fifteen years as an executive at skyscraping banks like Goldman Sachs, Bear Stearns, and Lehman Brothers, Prins never lost her ability to see the broader picture. She walked away from the game in 2002 out of disgust with the burgeoning corporate corruption, just as its magnitude was becoming clear to the public. In this acclaimed exposé, named one of the best books of 2004 by The Economist, Barron's, Library Journal, and The Progressive, Prins provides fascinating firsthand details of day-to-day life in the financial leviathans, with all its rich absurdities. She demonstrates how the much-publicized fraud of recent years resulted from deregulation that trashed the rules of responsible corporate behavior, and not simply the unbridled greed of a select few. While the stock market roared on the back of phony balance sheets, executives made out like bandits and Congress looked the other way. Worse yet, as the new foreword to the paperback edition makes clear, everything remains in place for a repeat performance.
Author: Paul Zane Pilzer
Publisher: Simon & Schuster
ISBN:
Category : Business & Economics
Languages : en
Pages : 284
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Book Description
An insider's account of the massive solvency crisis that threatens to bankrupt the nation's savings-and-loan industry--what happened, who is to blame, and what should be done. National tour.
Author: Charles V. Bagli
Publisher: National Geographic Books
ISBN: 0142180718
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
A veteran New York Times reporter dissects the most spectacular failure in real estate history Real estate giant Tishman Speyer and its partner, BlackRock, lost billions of dollars when their much-vaunted purchase of Stuyvesant Town–Peter Cooper Village in New York City failed to deliver the expected profits. But how did Tishman Speyer walk away from the deal unscathed, while others took the financial hit—and MetLife scored a $3 billion profit? Illuminating the world of big real estate the way Too Big to Fail did for banks, Other People’s Money is a riveting account of politics, high finance, and the hubris that ultimately led to the nationwide real estate meltdown.
Author: Sharon Ann Murphy
Publisher: Johns Hopkins University Press
ISBN: 1421421755
Category : History
Languages : en
Pages : 207
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Book Description
How the contentious world of nineteenth-century banking shaped the United States. Pieces of paper that claimed to be good for two dollars upon redemption at a distant bank. Foreign coins that fluctuated in value from town to town. Stock certificates issued by turnpike or canal companies—worth something . . . or perhaps nothing. IOUs from farmers or tradesmen, passed around by people who could not know the person who first issued them. Money and banking in antebellum America offered a glaring example of free-market capitalism run amok—unregulated, exuberant, and heading pell-mell toward the next “panic” of burst bubbles and hard times. In Other People’s Money, Sharon Ann Murphy explains how banking and money worked before the federal government, spurred by the chaos of the Civil War, created the national system of US paper currency. Murphy traces the evolution of banking in America from the founding of the nation, when politicians debated the constitutionality of chartering a national bank, to Andrew Jackson’s role in the Bank War of the early 1830s, to the problems of financing a large-scale war. She reveals how, ultimately, the monetary and banking structures that emerged from the Civil War also provided the basis for our modern financial system, from its formation under the Federal Reserve in 1913 to the present. Touching on the significant role that numerous historical figures played in shaping American banking—including Alexander Hamilton, James Madison, Benjamin Franklin, Henry Clay, Daniel Webster, and Louis Brandeis—Other People’s Money is an engaging guide to the heated political fights that surrounded banking in early America as well as to the economic causes and consequences of the financial system that emerged from the turmoil. By helping readers understand the financial history of this period and the way banking shaped the society in which ordinary Americans lived and worked, this book broadens and deepens our knowledge of the Early American Republic.
Author: Neil Forsyth
Publisher: Pan Macmillan
ISBN: 0330539825
Category : True Crime
Languages : en
Pages : 332
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Book Description
'A fascinating and illuminating story' Irvine Welsh 'Exhilarating Brit variation on Catch Me if You Can, which never misses an opportunity to up the sweaty-palmed suspense' Arena Elliot Castro was a gifted outsider, a working-class kid with ambitions who wanted to live the high life but lacked the money to do so. Until, at the tender age of sixteen, he worked out how to use the credit card system to his advantage. Identifying the banks' security weaknesses, utilising his intelligence and charm, Elliot embarked on a massive spending spree. From London to New York, Ibiza to Beverly Hills, he lived the fantasy life, staying in famous hotels, flying first class, blowing a fortune on designer clothes. Time and time again Elliot managed to wriggle free of the numerous authorities who were on his tail, while his life spiralled out of control. Meanwhile, from a police station at Heathrow, a detective was patiently tracking him down . . . With a likeable hero, filled with humour and as fast-paced as a thriller, Other People's Money is crime writing at its best.
