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Author: Emily Eisenlohr
Publisher:
ISBN: 9781452034072
Category : Business & Economics
Languages : en
Pages : 272
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Book Description
"If something goes wrong, it's going to be a big mess!" That 2004 warning came during the SEC's approval of a new regulation intended to help investment banks avoid regulation. Confusing? In 1998 the large hedge fund Long-Term Capital Management was close to collapse. The Federal Reserve deemed it sufficiently large to present systemic risk and organized a "rescue" by a group of its largest banks. No taxpayer money was involved, but the event caught the eye of Congress. Congressmen and government officials vowed that something needed to be done about financial risk and regulation.Then Congress ignored LTCM's lessons. Congress removed the barriers between investment and commercial banking in 1999. The following year Congress passed legislation that ensured that over-the-counter derivatives would not be regulated. Something else was going on.The real history of the systemic bubble began at least ten years ago. The implosion of this bubble is far larger than LTCM with even more complex risks and financial instruments. This meltdown involved huge taxpayer-funded bailouts. The public is paying attention this time, but is Congress really dealing with systemic risk?Many fictions surround the financial meltdown. Which political party is most responsible? Can regulators prevent another crisis? How do credit ratings play a hidden role? Can Congress tame systemic risk without shrinking big banks?In simple terms Emily Eisenlohr guides Main Street down Wall Street, where finance meets politics. She provides both simple explanations for the less financially savvy and simple illustrations to show even the experts how systemic risk remains, making future bailouts a given. She believes you don't need to trade derivatives or have a Ph.D. in economics to understand this little history.
Author: Emily Eisenlohr
Publisher:
ISBN: 9781452034072
Category : Business & Economics
Languages : en
Pages : 272
Get Book Here
Book Description
"If something goes wrong, it's going to be a big mess!" That 2004 warning came during the SEC's approval of a new regulation intended to help investment banks avoid regulation. Confusing? In 1998 the large hedge fund Long-Term Capital Management was close to collapse. The Federal Reserve deemed it sufficiently large to present systemic risk and organized a "rescue" by a group of its largest banks. No taxpayer money was involved, but the event caught the eye of Congress. Congressmen and government officials vowed that something needed to be done about financial risk and regulation.Then Congress ignored LTCM's lessons. Congress removed the barriers between investment and commercial banking in 1999. The following year Congress passed legislation that ensured that over-the-counter derivatives would not be regulated. Something else was going on.The real history of the systemic bubble began at least ten years ago. The implosion of this bubble is far larger than LTCM with even more complex risks and financial instruments. This meltdown involved huge taxpayer-funded bailouts. The public is paying attention this time, but is Congress really dealing with systemic risk?Many fictions surround the financial meltdown. Which political party is most responsible? Can regulators prevent another crisis? How do credit ratings play a hidden role? Can Congress tame systemic risk without shrinking big banks?In simple terms Emily Eisenlohr guides Main Street down Wall Street, where finance meets politics. She provides both simple explanations for the less financially savvy and simple illustrations to show even the experts how systemic risk remains, making future bailouts a given. She believes you don't need to trade derivatives or have a Ph.D. in economics to understand this little history.
Author: Emily EisenLohr
Publisher: AuthorHouse
ISBN: 1452034052
Category : Business & Economics
Languages : en
Pages : 276
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Book Description
“If something goes wrong, it’s going to be a big mess!” That 2004 warning came during the SEC’s approval of a new regulation intended to help investment banks avoid regulation. Confusing? In 1998 the large hedge fund Long-Term Capital Management was close to collapse. The Federal Reserve deemed it sufficiently large to present systemic risk and organized a “rescue” by a group of its largest banks. No taxpayer money was involved, but the event caught the eye of Congress. Congressmen and government officials vowed that something needed to be done about financial risk and regulation. Then Congress ignored LTCM’s lessons. Congress removed the barriers between investment and commercial banking in 1999. The following year Congress passed legislation that ensured that over-the-counter derivatives would not be regulated. Something else was going on. The real history of the systemic bubble began at least ten years ago. The implosion of this bubble is far larger than LTCM with even more complex risks and financial instruments. This meltdown involved huge taxpayer-funded bailouts. The public is paying attention this time, but is Congress really dealing with systemic risk? Many fictions surround the financial meltdown. Which political party is most responsible? Can regulators prevent another crisis? How do credit ratings play a hidden role? Can Congress tame systemic risk without shrinking big banks? In simple terms Emily Eisenlohr guides Main Street down Wall Street, where finance meets politics. She provides both simple explanations for the less financially savvy and simple illustrations to show even the experts how systemic risk remains, making future bailouts a given. She believes you don’t need to trade derivatives or have a Ph.D. in economics to understand this little history.
Author: Marlowe Granados
Publisher: Verso Books
ISBN: 1839764031
Category : Fiction
Languages : en
Pages : 288
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Book Description
With the verve and bite of Ottessa Moshfegh and the barbed charm of Nancy Mitford, Marlowe Granados’s stunning debut brilliantly captures a summer of striving in New York City. Isa Epley, all of twenty-one years old, is already wise enough to understand that the purpose of life is the pursuit of pleasure. She arrives in New York with her newly blond best friend looking for adventure. They have little money, but that’s hardly going to stop them. By day, the girls sell clothes on a market stall, pinching pennies for their Bed-Stuy sublet and bodega lunches. By night, they weave between Brooklyn, the Upper East Side, and the Hamptons among a rotating cast of celebrities, artists, Internet entrepreneurs, stuffy intellectuals, and bad-mannered grifters. Resources run ever tighter and the strain tests their friendship as they try to convert social capital into something more lasting than precarious gigs as au pairs, nightclub hostesses, paid audience members, and aspiring foot fetish models. Through it all, Isa’s bold, beguiling voice captures the precise thrill of cultivating a life of glamour and intrigue as she juggles paying her dues with skipping out on the bill. Happy Hour is a novel about getting by and having fun in a system that wants you to do neither.
Author: Supritha Rajan
Publisher: University of Michigan Press
ISBN: 0472052551
Category : Business & Economics
Languages : en
Pages : 363
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Book Description
An interdisciplinary examination of nineteenth-century British capitalism, its architects, and its critics
Author: Michael Rosen
Publisher: Princeton University Press
ISBN: 0691175349
Category : Fiction
Languages : en
Pages : 328
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Book Description
A collection of political tales—first published in British workers’ magazines—selected and introduced by acclaimed critic and author Michael Rosen In the late nineteenth and early twentieth centuries, unique tales inspired by traditional literary forms appeared frequently in socialist-leaning British periodicals, such as the Clarion, Labour Leader, and Social Democrat. Based on familiar genres—the fairy tale, fable, allegory, parable, and moral tale—and penned by a range of lesser-known and celebrated authors, including Schalom Asch, Charles Allen Clarke, Frederick James Gould, and William Morris, these stories were meant to entertain readers of all ages—and some challenged the conventional values promoted in children’s literature for the middle class. In Workers’ Tales, acclaimed critic and author Michael Rosen brings together more than forty of the best and most enduring examples of these stories in one beautiful volume. Throughout, the tales in this collection exemplify themes and ideas related to work and the class system, sometimes in wish-fulfilling ways. In “Tom Hickathrift,” a little, poor person gets the better of a gigantic, wealthy one. In “The Man Without a Heart,” a man learns about the value of basic labor after testing out more privileged lives. And in “The Political Economist and the Flowers,” two contrasting gardeners highlight the cold heart of Darwinian competition. Rosen’s informative introduction describes how such tales advocated for contemporary progressive causes and countered the dominant celebration of Britain’s imperial values. The book includes archival illustrations, biographical notes about the writers, and details about the periodicals where the tales first appeared. Provocative and enlightening, Workers’ Tales presents voices of resistance that are more relevant than ever before.
Author: Pascal Bruckner
Publisher: Harvard University Press
ISBN: 0674972279
Category : Business & Economics
Languages : en
Pages : 295
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Book Description
Money is an evil that does good, and a good that does evil. It is wise to have money, says Pascal Bruckner, and wise to think and talk about it critically. One of the world’s great essayists guides us through the commentary that money has generated since ancient times, as he builds an unfashionable defense of the worldly wisdom of the bourgeoisie.
Author: マサオ・ミヨシ
Publisher: Duke University Press
ISBN: 9780822308966
Category : History
Languages : en
Pages : 336
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Book Description
Postmodernism and Japan is a coherent yet diverse study of the dynamics of postmodernism, as described by Lyotard, Baudrillard, Deleuze, and Guatarri, from the often startling perspective of a society bent on transforming itself into the image of Western “enlightenment” wealth and power. This work provides a unique view of a society in transition and confronting, like its models in the West, the problems induced by the introduction of new forms of knowledge, modes of production, and social relationships.
Author: Cristina Bacchilega
Publisher: Wayne State University Press
ISBN: 081433928X
Category : Literary Criticism
Languages : en
Pages : 302
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Book Description
Scholars of fairy-tale studies will enjoy Bacchilega's significant new study of contemporary adaptations.
Author: Arundhati Roy
Publisher: Haymarket Books
ISBN: 1608464296
Category : Political Science
Languages : en
Pages : 121
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Book Description
The “courageous and clarion” Booker Prize–winner “continues her analysis and documentation of the disastrous consequences of unchecked global capitalism” (Booklist). From the poisoned rivers, barren wells, and clear-cut forests, to the hundreds of thousands of farmers who have committed suicide to escape punishing debt, to the hundreds of millions of people who live on less than two dollars a day, there are ghosts nearly everywhere you look in India. India is a nation of 1.2 billion, but the country’s one hundred richest people own assets equivalent to one-fourth of India’s gross domestic product. Capitalism: A Ghost Story examines the dark side of democracy in contemporary India and shows how the demands of globalized capitalism have subjugated billions of people to the highest and most intense forms of racism and exploitation. “A highly readable and characteristically trenchant mapping of early-twenty-first-century India’s impassioned love affair with money, technology, weaponry and the ‘privatization of everything,’ and—because these must not be impeded no matter what—generous doses of state violence.” —The Nation “A vehement broadside against capitalism in general and American cultural imperialism in particular . . . an impassioned manifesto.” —Kirkus Reviews “Roy’s central concern is the effect on her own country, and she shows how Indian politics have taken on the same model, leading to the ghosts of her book’s title: 250,000 farmers have committed suicide, 800 million impoverished and dispossessed Indians, environmental destruction, colonial-like rule in Kashmir, and brutal treatment of activists and journalists. In this dark tale, Roy gives rays of hope that illuminate cracks in the nightmare she evokes.” —Publishers Weekly
Author: Simon Clark
Publisher: HarperCollins
ISBN: 0062996231
Category : True Crime
Languages : en
Pages : 352
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Book Description
LONGLISTED FOR THE FINANCIAL TIMES & MCKINSEY BUSINESS BOOK OF THE YEAR ONE OF THE ECONOMIST'S BEST BOOKS OF 2021 In this compelling story of lies, greed and tarnished idealism, two Wall Street Journal reporters investigate a man who Bill Gates, Western governments, and other investors entrusted with billions of dollars to make profits and end poverty, but who now stands accused of masterminding one of the biggest, most brazen financial frauds ever. Arif Naqvi was charismatic, inspiring, and self-made—all the qualities of a successful business leader. The founder of Abraaj, a Dubai-based private-equity firm, Naqvi was the Key Man to the global elite searching for impact investments to make money and do good. He persuaded politicians he could help stabilize the Middle East after 9/11 by providing jobs and guided executives to opportunities in cities they struggled to find on the map. Bill Gates helped him start a $1 billion fund to improve healthcare in poor countries and the UN and Interpol appointed him to boards. As Pope Francis blessed a move to harness capitalism for the good of the poor, Naqvi won the support of Obama’s administration and investors, who compared him to Tom Cruise in Mission: Impossible. In 2018, Simon Clark and Will Louch were contacted by an anonymous whistleblower who said Naqvi had swindled investors out of hundreds of millions of dollars and offered bribes to sustain his billionaire lifestyle. Digging into the claims, Clark and Louch uncovered hundreds of documents and exposed the wrongdoing. In April 2019—months after their exposé broke—Naqvi was arrested on charges of fraud and racketeering, and faces up to 291 years in jail. Populated by a cast of larger-than-life characters and moving across Asia, Africa, Europe and America, The Key Man is the story of how the global elite was duped by a capitalist fairytale. Clark and Louch shine a light on efforts to clean up global capital flows even as opaque private equity firms amass trillions of dollars and offshore tax havens cast a veil of secrecy which prevents regulators, investors and citizens from understanding what’s really going on in the finance industry.
