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Author: Nicholas Dunbar
Publisher: Harvard Business Press
ISBN: 1422143163
Category : Business & Economics
Languages : en
Pages : 310
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Book Description
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.
Author: Nicholas Dunbar
Publisher: Harvard Business Press
ISBN: 1422143163
Category : Business & Economics
Languages : en
Pages : 310
Get Book Here
Book Description
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.
Author: Bethany McLean
Publisher: Penguin
ISBN: 1101551054
Category : Business & Economics
Languages : en
Pages : 503
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Book Description
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.
Author: Angus Stevenson
Publisher: Oxford University Press, USA
ISBN: 0199571120
Category : Foreign Language Study
Languages : en
Pages : 2093
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Book Description
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.
Author: Fraser Malcolm
Publisher: FT Press
ISBN:
Category : Business & Economics
Languages : en
Pages : 248
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Book Description
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
Author: Minette Walters
Publisher: Vintage Crime/Black Lizard
ISBN: 0307266052
Category : Fiction
Languages : en
Pages : 339
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Book Description
A blistering new thriller about the horrors of war and the struggle to survive in the face of pure evil. Foreign correspondent Connie Burns is hunting a British mercenary that she believes is responsible for the rape and murder of five women in Sierra Leone in 2002. Two years later she finds him training Iraqi police in Baghdad. Connie is determined to expose his crimes, but then she is kidnapped and released after three days of unspeakable torture. Silently, she returns to England and attempts to isolate herself, but it soon becomes apparent that the horrors of the world and her own nightmarish past aren’t so easy to escape from.
Author: Edward Chancellor
Publisher: Penguin
ISBN: 0452281806
Category : Business & Economics
Languages : en
Pages : 401
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Book Description
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.
Author: Ambrose Bierce
Publisher: Standard Ebooks
ISBN:
Category : Fiction
Languages : en
Pages : 341
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Book Description
“Dictionary, n: A malevolent literary device for cramping the growth of a language and making it hard and inelastic. This dictionary, however, is a most useful work.” Bierce’s groundbreaking Devil’s Dictionary had a complex publication history. Started in the mid-1800s as an irregular column in Californian newspapers under various titles, he gradually refined the new-at-the-time idea of an irreverent set of glossary-like definitions. The final name, as we see it titled in this work, did not appear until an 1881 column published in the periodical The San Francisco Illustrated Wasp. There were no publications of the complete glossary in the 1800s. Not until 1906 did a portion of Bierce’s collection get published by Doubleday, under the name The Cynic’s Word Book—the publisher not wanting to use the word “Devil” in the title, to the great disappointment of the author. The 1906 word book only went from A to L, however, and the remainder was never released under the compromised title. In 1911 the Devil’s Dictionary as we know it was published in complete form as part of Bierce’s collected works (volume 7 of 12), including the remainder of the definitions from M to Z. It has been republished a number of times, including more recent efforts where older definitions from his columns that never made it into the original book were included. Due to the complex nature of copyright, some of those found definitions have unclear public domain status and were not included. This edition of the book includes, however, a set of definitions attributed to his one-and-only “Demon’s Dictionary” column, including Bierce’s classic definition of A: “the first letter in every properly constructed alphabet.” Bierce enjoyed “quoting” his pseudonyms in his work. Most of the poetry, dramatic scenes and stories in this book attributed to others were self-authored and do not exist outside of this work. This includes the prolific Father Gassalasca Jape, whom he thanks in the preface—“jape” of course having the definition: “a practical joke.” This book is a product of its time and must be approached as such. Many of the definitions hold up well today, but some might be considered less palatable by modern readers. Regardless, the book’s humorous style is a valuable snapshot of American culture from past centuries. This book is part of the Standard Ebooks project, which produces free public domain ebooks.
Author: William Francis Ryan
Publisher: Penn State Press
ISBN: 9780271019673
Category : Religion
Languages : en
Pages : 518
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Book Description
The title of this book refers to the classic time and place for magic, witchcraft, and divination in Russia. The Bathhouse at Midnight, by one of the world's foremost experts on the subject, surveys all forms of magic, both learned and popular, in Russia from the fifth to the eighteenth century. While no book on the subject could be exhaustive, The Bathhouse at Midnight does describe and assess all the literary sources of magic, witchcraft, astrology, alchemy, and divination from Kiev Rus and Imperial Russia, and to some extent Ukraine and Belorussia. Where possible, Ryan identifies the sources of the texts (usually Greek, Arabic, or West European) and makes parallels to other cultures, ranging from classical antiquity to Finnic. He finds that Russia shares most of its magic and divination with the rest of Europe. Subjects covered include the Evil Eye, the Number of the Beast, omens, dreams, talismans and amulets, plants, gemstones, and other materials thought to possess magic properties. The first chapter gives a historical overview, and the final chapter summarizes the political, religious, and legal aspects of the history of magic in Russia. The author also provides translations of some key texts. The Bathhouse at Midnight will be invaluable for anyone&—student, teacher, or general reader&—with an interest in Russia, magic, or the occult. It is unique in its field and is set to become the definitive study of Russian magic.
Author: Alan S. Blinder
Publisher: Penguin
ISBN: 1101605871
Category : Business & Economics
Languages : en
Pages : 587
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Book Description
The New York Times bestseller "Blinder's book deserves its likely place near the top of reading lists about the crisis. It is the best comprehensive history of the episode... A riveting tale." - Financial Times One of our wisest and most clear-eyed economic thinkers offers a masterful narrative of the crisis and its lessons. Many fine books on the financial crisis were first drafts of history—books written to fill the need for immediate understanding. Alan S. Blinder, esteemed Princeton professor, Wall Street Journal columnist, and former vice chairman of the Federal Reserve Board, held off, taking the time to understand the crisis and to think his way through to a truly comprehensive and coherent narrative of how the worst economic crisis in postwar American history happened, what the government did to fight it, and what we can do from here—mired as we still are in its wreckage. With bracing clarity, Blinder shows us how the U.S. financial system, which had grown far too complex for its own good—and too unregulated for the public good—experienced a perfect storm beginning in 2007. Things started unraveling when the much-chronicled housing bubble burst, but the ensuing implosion of what Blinder calls the “bond bubble” was larger and more devastating. Some people think of the financial industry as a sideshow with little relevance to the real economy—where the jobs, factories, and shops are. But finance is more like the circulatory system of the economic body: if the blood stops flowing, the body goes into cardiac arrest. When America’s financial structure crumbled, the damage proved to be not only deep, but wide. It took the crisis for the world to discover, to its horror, just how truly interconnected—and fragile—the global financial system is. Some observers argue that large global forces were the major culprits of the crisis. Blinder disagrees, arguing that the problem started in the U.S. and was pushed abroad, as complex, opaque, and overrated investment products were exported to a hungry world, which was nearly poisoned by them. The second part of the story explains how American and international government intervention kept us from a total meltdown. Many of the U.S. government’s actions, particularly the Fed’s, were previously unimaginable. And to an amazing—and certainly misunderstood—extent, they worked. The worst did not happen. Blinder offers clear-eyed answers to the questions still before us, even if some of the choices ahead are as divisive as they are unavoidable. After the Music Stopped is an essential history that we cannot afford to forget, because one thing history teaches is that it will happen again.
Author: Aldous Huxley
Publisher: Random House
ISBN: 1409079503
Category : History
Languages : en
Pages : 404
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Book Description
A gripping biography by the author of Brave New World In 1634 Urbain Grandier, a handsome and dissolute priest of the parish of Loudun was tried, tortured and burnt at the stake. He had been found guilty of conspiring with the devil to seduce an entire convent of nuns. Grandier maintained his innocence to the end but four years after his death the nuns were still being subjected to exorcisms to free them from their demonic bondage. Huxley's vivid account of this bizarre tale of religious and sexual obsession transforms our understanding of the medieval world.
