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Author:
Publisher:
ISBN:
Category : Banks and banking
Languages : en
Pages : 396
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Book Description
Author:
Publisher:
ISBN:
Category : Banks and banking
Languages : en
Pages : 396
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Book Description
Author: Peter James Hudson
Publisher: University of Chicago Press
ISBN: 022645925X
Category : Social Science
Languages : en
Pages : 370
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Book Description
From the end of the nineteenth century until the onset of the Great Depression, Wall Street embarked on a stunning, unprecedented, and often bloody period of international expansion in the Caribbean. A host of financial entities sought to control banking, trade, and finance in the region. In the process, they not only trampled local sovereignty, grappled with domestic banking regulation, and backed US imperialism—but they also set the model for bad behavior by banks, visible still today. In Bankers and Empire, Peter James Hudson tells the provocative story of this period, taking a close look at both the institutions and individuals who defined this era of American capitalism in the West Indies. Whether in Wall Street minstrel shows or in dubious practices across the Caribbean, the behavior of the banks was deeply conditioned by bankers’ racial views and prejudices. Drawing deeply on a broad range of sources, Hudson reveals that the banks’ experimental practices and projects in the Caribbean often led to embarrassing failure, and, eventually, literal erasure from the archives.
Author: Federal Reserve Bank Of Chicago
Publisher: Lulu.com
ISBN: 1105038319
Category : Business & Economics
Languages : en
Pages : 46
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Book Description
This reprint presents Modern Money Mechanics as it was originally published by the Federal Reserve Bank of Chicago in editions ranging from 1961-1992. The last revision, made in 1992, was most recently published in 1994. As a description of our money system since the time of the creation of the Federal Reserve, hard money advocates, political libertarians and others have found the content of this book damning and used it as part of a general critique of American fiat currency. This booklet has been cited by Gary North, Lew Rockwell, the U.S. and U.K. Libertarian parties and many others. It even features in YouTube videos. As a simplified model for fractional reserve banking, Modern Money Mechanics remains an excellent beginning, one that can be read in a single sitting and one that has the advantage of showing us the Federal Reserve presenting itself and its operations to a broad, mass readership.
Author: Charlie Eaton
Publisher: University of Chicago Press
ISBN: 022672042X
Category : Education
Languages : en
Pages : 216
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Book Description
Universities and the social circuitry of finance -- Our new financial oligarchy -- Bankers to the rescue : the political turn to student debt -- The top : how universities became hedge funds -- The bottom : a Wall Street takeover of for-profit colleges -- The middle : a hidden squeeze on public universities -- Reimagining (higher education) finance from below -- Methodological appendix : a comparative, qualitative, and quantitative study of elites.
Author: Claire A. Hill
Publisher: University of Chicago Press
ISBN: 022629305X
Category : Business & Economics
Languages : en
Pages : 288
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Book Description
Taking financial risks is an essential part of what banks do, but there’s no clear sense of what constitutes responsible risk. Taking legal risks seems to have become part of what banks do as well. Since the financial crisis, Congress has passed copious amounts of legislation aimed at curbing banks’ risky behavior. Lawsuits against large banks have cost them billions. Yet bad behavior continues to plague the industry. Why isn’t there more change? In Better Bankers, Better Banks, Claire A. Hill and Richard W. Painter look back at the history of banking and show how the current culture of bad behavior—dramatized by the corrupt, cocaine-snorting bankers of The Wolf of Wall Street—came to be. In the early 1980s, banks went from partnerships whose partners had personal liability to corporations whose managers had no such liability and could take risks with other people’s money. A major reason bankers remain resistant to change, Hill and Painter argue, is that while banks have been faced with large fines, penalties, and legal fees—which have exceeded one hundred billion dollars since the onset of the crisis—the banks (which really means the banks’shareholders) have paid them, not the bankers themselves. The problem also extends well beyond the pursuit of profit to the issue of how success is defined within the banking industry, where highly paid bankers clamor for status and clients may regard as inevitable bankers who prioritize their own self-interest. While many solutions have been proposed, Hill and Painter show that a successful transformation of banker behavior must begin with the bankers themselves. Bankers must be personally liable from their own assets for some portion of the bank’s losses from excessive risk-taking and illegal behavior. This would instill a culture that discourages such behavior and in turn influence the sorts of behavior society celebrates or condemns. Despite many sensible proposals seeking to reign in excessive risk-taking, the continuing trajectory of scandals suggests that we’re far from ready to avert the next crisis. Better Bankers, Better Banks is a refreshing call for bankers to return to the idea that theirs is a noble profession.
Author: Robert Loerzel
Publisher: University of Illinois Press
ISBN: 0252055934
Category : True Crime
Languages : en
Pages : 276
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Book Description
On May 1, 1897, Louise Luetgert disappeared. Although no body was found, Chicago police arrested her husband, Adolph, the owner of a large sausage factory, and charged him with murder. The eyes of the world were still on Chicago following the success of the World's Columbian Exposition, and the Luetgert case, with its missing victim, once-prosperous suspect, and all manner of gruesome theories regarding the disposal of the corpse, turned into one of the first media-fueled celebrity trials in American history. Newspapers fought one another for scoops, people across the country claimed to have seen the missing woman alive, and each new clue led to fresh rounds of speculation about the crime. Meanwhile, sausage sales plummeted nationwide as rumors circulated that Luetgert had destroyed his wife's body in one of his factory's meat grinders. Weaving in strange-but-true subplots involving hypnotists, palmreaders, English con artists, bullied witnesses, and insane-asylum bodysnatchers, Alchemy of Bones is more than just a true crime narrative; it is a grand, sprawling portrait of 1890s Chicago--and a nation--getting an early taste of the dark, chaotic twentieth century.
Author: Anat Admati
Publisher: Princeton University Press
ISBN: 0691251703
Category : Business & Economics
Languages : en
Pages : 624
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Book Description
A Wall Street Journal, Financial Times, and Bloomberg Businessweek Book of the Year Why our banking system is broken—and what we must do to fix it New bank failures have been a rude awakening for everyone who believed that the banking industry was reformed after the Global Financial Crisis—and that we’d never again have to choose between massive bailouts and financial havoc. The Bankers’ New Clothes uncovers just how little things have changed—and why banks are still so dangerous. Writing in clear language that anyone can understand, Anat Admati and Martin Hellwig debunk the false and misleading claims of bankers, regulators, politicians, academics, and others who oppose effective reform, and they explain how the banking system can be made safer and healthier. Thoroughly updated for a world where bank failures have made a dramatic return, this acclaimed and important book now features a new preface and four new chapters that expose the shortcomings of current policies and reveal how the dominance of banking even presents dangers to the rule of law and democracy itself.
Author: Mr.Jaromir Benes
Publisher: International Monetary Fund
ISBN: 1475505523
Category : Business & Economics
Languages : en
Pages : 71
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Book Description
At the height of the Great Depression a number of leading U.S. economists advanced a proposal for monetary reform that became known as the Chicago Plan. It envisaged the separation of the monetary and credit functions of the banking system, by requiring 100% reserve backing for deposits. Irving Fisher (1936) claimed the following advantages for this plan: (1) Much better control of a major source of business cycle fluctuations, sudden increases and contractions of bank credit and of the supply of bank-created money. (2) Complete elimination of bank runs. (3) Dramatic reduction of the (net) public debt. (4) Dramatic reduction of private debt, as money creation no longer requires simultaneous debt creation. We study these claims by embedding a comprehensive and carefully calibrated model of the banking system in a DSGE model of the U.S. economy. We find support for all four of Fisher's claims. Furthermore, output gains approach 10 percent, and steady state inflation can drop to zero without posing problems for the conduct of monetary policy.
Author:
Publisher:
ISBN:
Category : Banks and banking
Languages : en
Pages : 530
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Book Description
Author: Stefan Leins
Publisher: University of Chicago Press
ISBN: 022652356X
Category : Social Science
Languages : en
Pages : 205
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Book Description
The financial crisis and the recession that followed caught many people off guard, including experts in the financial sector whose jobs involve predicting market fluctuations. Financial analysis offices in most international banks are supposed to forecast the rise or fall of stock prices, the success or failure of investment products, and even the growth or decline of entire national economies. And yet their predictions are heavily disputed. How do they make their forecasts—and do those forecasts have any actual value? Building on recent developments in the social studies of finance, Stories of Capitalism provides the first ethnography of financial analysis. Drawing on two years of fieldwork in a Swiss bank, Stefan Leins argues that financial analysts construct stories of possible economic futures, presenting them as coherent and grounded in expert research and analysis. In so doing, they establish a role for themselves—not necessarily by laying bare empirically verifiable trends but rather by presenting the market as something that makes sense and is worth investing in. Stories of Capitalism is a nuanced look at how banks continue to boost investment—even in unstable markets—and a rare insider’s look into the often opaque financial practices that shape the global economy.
