Banking on Failure - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Banking on Failure write by Richard S Collier. This book was released on 2020-09-01. Banking on Failure available in PDF, EPUB and Kindle. 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.
Banking on Failure
Banking on Failure - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Banking on Failure write by Richard S. Collier. This book was released on 2020. Banking on Failure available in PDF, EPUB and Kindle. 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.
How Big Banks Fail and What to Do about It
How Big Banks Fail and What to Do about It - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook How Big Banks Fail and What to Do about It write by Darrell Duffie. This book was released on 2010-10-18. How Big Banks Fail and What to Do about It available in PDF, EPUB and Kindle. A leading finance expert explains how and why big banks fail—and what can be done to prevent it Dealer banks—that is, large banks that deal in securities and derivatives, such as J. P. Morgan and Goldman Sachs—are of a size and complexity that sharply distinguish them from typical commercial banks. When they fail, as we saw in the global financial crisis, they pose significant risks to our financial system and the world economy. How Big Banks Fail and What to Do about It examines how these banks collapse and how we can prevent the need to bail them out. In sharp, clinical detail, Darrell Duffie walks readers step-by-step through the mechanics of large-bank failures. He identifies where the cracks first appear when a dealer bank is weakened by severe trading losses, and demonstrates how the bank's relationships with its customers and business partners abruptly change when its solvency is threatened. As others seek to reduce their exposure to the dealer bank, the bank is forced to signal its strength by using up its slim stock of remaining liquid capital. Duffie shows how the key mechanisms in a dealer bank's collapse—such as Lehman Brothers' failure in 2008—derive from special institutional frameworks and regulations that influence the flight of short-term secured creditors, hedge-fund clients, derivatives counterparties, and most devastatingly, the loss of clearing and settlement services. How Big Banks Fail and What to Do about It reveals why today's regulatory and institutional frameworks for mitigating large-bank failures don't address the special risks to our financial system that are posed by dealer banks, and outlines the improvements in regulations and market institutions that are needed to address these systemic risks.
The Lost Bank
The Lost Bank - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Lost Bank write by Kirsten Grind. This book was released on 2013-07-16. The Lost Bank available in PDF, EPUB and Kindle. 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.
Anatomy of a Banking Scandal
Anatomy of a Banking Scandal - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Anatomy of a Banking Scandal write by Robert Pasley. This book was released on 2017-07-05. Anatomy of a Banking Scandal available in PDF, EPUB and Kindle. 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 learned and still can be learned about 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.
