Too Big to Fail

Author: Andrew Ross Sorkin
Publisher: Penguin
ISBN: 9781101443248
Release Date: 2010-09-07
Genre: Business & Economics

Named a Best Book of the Year by: The Economist, The Financial Times, Business Week, and 800-CEO-Read Winner of the Gerald Loeb Award for Best Business Book “Too Big To Fail is too good to put down. . . . It is the story of the actors in the most extraordinary financial spectacle in 80 years, and it is told brilliantly.” —The Economist “Vigorously reported, superbly organized . . . For those of us who didn’t pursue MBAs—and have the penny-ante salaries to prove it—Sorkin’s book offers a clear, cogent explanation of what happened and why it matters.” —Julia Keller, Chicago Tribune “Sorkin’s prodigious reporting and lively writing put the reader in the room for some of the biggest-dollar conference calls in history. It’s an entertaining, brisk book.” —Paul M. Barrett, The New York Times Book Review “Sorkin’s densely detailed and astonishing narrative of the epic financial crisis of 2008 is an extraordinary achievement that will be hard to surpass as the definitive account.” —John Gapper, Financial Times A brilliantly reported true-life thriller that goes behind the scenes of the financial crisis on Wall Street and in Washington, the basis for the HBO film In one of the most gripping financial narratives in decades, Andrew Ross Sorkin-a New York Times columnist and one of the country's most respected financial reporters-delivers the first definitive blow- by-blow account of the epochal economic crisis that brought the world to the brink. Through unprecedented access to the players involved, he re-creates all the drama and turmoil of these turbulent days, revealing never-before-disclosed details and recounting how, motivated as often by ego and greed as by fear and self-preservation, the most powerful men and women in finance and politics decided the fate of the world's economy.

Die Unfehlbaren

Author: Andrew Ross Sorkin
Publisher:
ISBN: 3421044880
Release Date: 2010
Genre:

Die mit grosser Authenzität erzählte Geschichte vom Aufstieg und Niedergang der Investmentbank Lehman Brothers und ihrer Rettung durch das Weisse Haus, das Finanzministerium und die US-Notenbank gibt tiefe Einblicke in die internationale Finanzwirtschaft.

Resisting Corporate Corruption

Author: Stephen V. Arbogast
Publisher: John Wiley & Sons
ISBN: 9781119323747
Release Date: 2017-10-09
Genre: Business & Economics

Resisting Corporate Corruption teaches business ethics in a manner very different from the philosophical and legal frameworks that dominate graduate schools. The book offers twenty-eight case studies and nine essays that cover a full range of business practice, controls and ethics issues. The essays discuss the nature of sound financial controls, root causes of the Financial Crisis, and the evolving nature of whistleblower protections. The cases are framed to instruct students in early identification of ethics problems and how to work such issues within corporate organizations. They also provide would-be whistleblowers with instruction on the challenges they’d face, plus information on the legal protections, and outside supports available should they embark on that course. Some of the cases illustrate how ‘The Young are the Most Vulnerable,’ i.e. short service employees are most at risk of being sacrificed by an unethical firm. Other cases show the ethical dilemmas facing well-known CEOs and the alternatives they can employ to better combine ethical conduct and sound business strategy. Through these case studies, students should emerge with a practical toolkit that better enables them to follow their moral compass. Finally, the cases provide an in depth look at how a corporation becomes progressively corrupted (Enron), how the Financial Crisis was rooted in ethical decay at institutions as diverse as Countrywide, Goldman Sacks, Citigroup, Fannie Mae and Moody’s, and at the ethical challenges that persist in the post-Crisis, post-Dodd-Frank environment.

Rettet die Wall Street

Author: Heike Buchter
Publisher: Orell Füssli Verlag
ISBN: 9783280038093
Release Date: 2014-03-01
Genre: Business & Economics

Wer heute das Wort "Börse" hört, denkt sofort an geldgierige Abzocker. Doch wer glaubt, dass darin die Ursachen der Finanzkrisen und die Gefahr für die globalisierte Weltwirtschaft liegen, irrt sich gewaltig. In Wahrheit liegt das Problem darin, dass immer mehr Geschäfte in dunklen Kanälen außerhalb der Börsen laufen. Die Regulierer können nur noch staunen. Die Undurchsichtigkeit und Entmachtung der Märkte durch die moderne Technik bedroht den Kern unseres Systems und unsere Gesellschaft.

Rethinking Risk in National Security

Author: Michael J. Mazarr
Publisher: Springer
ISBN: 9781349918430
Release Date: 2016-05-18
Genre: Political Science

This book examines the role of risk management in the recent financial crisis and applies lessons from there to the national security realm. It rethinks the way risk contributes to strategy, with insights relevant to practitioners and scholars in national security as well as business. Over the past few years, the concept of risk has become one of the most commonly discussed issues in national security planning. And yet the experiences of the 2007-2008 financial crisis demonstrated critical limitations in institutional efforts to control risk. The most elaborate and complex risk procedures could not cure skewed incentives, cognitive biases, groupthink, and a dozen other human factors that led companies to take excessive risk. By embracing risk management, the national security enterprise may be turning to a discipline just as it has been discredited.

Das Ende der Weltwirtschaft und ihre Zukunft

Author: Nouriel Roubini
Publisher: Campus Verlag
ISBN: 9783593391021
Release Date: 2010-05-11
Genre: Political Science

Nouriel Roubini ist der neue Superstar der Ökonomie. Kein anderer Ökonom hat so frühzeitig und präzise vor der Wirtschaftskrise gewarnt wie er. Zunächst von Fachkollegen ungläubig bestaunt, haben sich seine Prognosen als äußerst treff - sicher erwiesen. In seinem Buch liefert er eine große und fundierte Analyse der Krise und beantwortet die wichtigsten Fragen, die Wirtschaft, Politik und Gesellschaft aktuell bewegen, wie: Wer ist schuld an der Krise, die Märkte oder der Staat? Was ist die Zukunft des Kapitalismus? Wie können wir das globale Wirtschaftssystem reformieren, um zukünftige Krisen zu verhindern? Roubini erklärt die globalen wirtschaftlichen Zusammenhänge ganz neu. Er schaut für uns in die Zukunft und sagt, wie die Weltwirtschaft aus der Krise herauskommen kann und draußen bleiben wird.

Mehr Geld als Gott

Author: Sebastian Mallaby
Publisher: FinanzBuch Verlag
ISBN: 9783862486052
Release Date: 2011-03-17
Genre: Business & Economics

Reiche, mächtige und womöglich gefährliche Hedgefonds-Magnaten sind die Stars des Kapitalismus im 21. Jahrhundert. Ihre Wochenendpaläste sind Futter für die Fotografen von Vanity Fair, und die Möglichkeit, sie könnten ein Chaos auslösen, beschäftigte die Aufsichtsbehörden schon vor dem jüngsten Zusammenbruch der Finanzmärkte. Auf der Grundlage des einzigartigen Wissens des angesehenen Finanzautors Sebastian Mallaby über diese Branche sowie von 300 Stunden Interviews und ungezählten internen Dokumenten erzählt Mehr Geld als Gott die Geschichte der Hedgefonds von den Anfängen in den 1960er- und 1970er-Jahren über die explosiven Schlachten mit den Zentralbanken in den 1980er- und 1990er- Jahren bis zu ihrer Rolle in der Finanzkrise von 2007 bis 2009. Das erste maßgebliche Buch über die Geschichte der Hedgefonds – von den rebellischen Anfängen bis zu ihrer Rolle bei der Definition des zukünftigen Finanzwesens.

Saving the Market from Itself

Author: Christopher Mitchell
Publisher: Cambridge University Press
ISBN: 9781108108065
Release Date: 2016-11-10
Genre: Political Science

The 2007–9 financial crisis threatened economic disaster on a scale not seen since the Great Depression, but rapid state action prevented the widely feared devastation. The German response was considerably more generous to banks than the American or British bailouts. Drawing on interviews and primary sources in government, private firms, and media, Mitchell explains how the structure of national financial systems and interbank relationships produced extensive private rescues and pressure on different states. Mitchell explores the different responses and results in Germany, the UK and the US using a combination of detailed case study analyses of the three countries' responses to the crisis and a quantitative analysis of patterns of state responses to financial crises. This book will be essential reading for scholars and advanced students of political economy, comparative politics, economic sociology, economics, and public policy.

Super hubs

Author: Sandra Navidi
Publisher: FinanzBuch Verlag
ISBN: 9783862488698
Release Date: 2016-01-18
Genre: Business & Economics

Eines der Bloomberg Best Books 2016 $uper-hubs enthüllt, wie die Finanzelite und ihre mächtigen Netzwerke das Weltgeschehen – und damit unser aller Leben – beherrschen. Super-hubs sind die am besten vernetzten Knotenpunkte innerhalb des Finanznetzwerks, wie Milliardär George Soros, JP-Morgan-Chef Jamie Dimon und Blackrock-Boss Larry Fink. Ihre persönlichen Beziehungen und globalen Netzwerke verleihen ihnen finanzielle, wirtschaftliche und politische »Super-Macht". Mit ihren Entscheidungen bewegen sie täglich Billionen auf den Finanzmärkten und haben somit direkten Einfluss auf Industrien, Arbeitsplätze, Wechselkurse, Rohstoffe oder sogar den Preis unserer Lebensmittel. Als Insiderin der Hochfinanz nimmt Sandra Navidi Sie mit hinter die Kulissen dieses Mikrokosmos der Macht: zum Weltwirtschaftsforum in Davos, zum Internationalen Währungsfonds, zu Thinktanks, Benefizgalas und glamourösen Partys. Sie beleuchtet die Menschen, die hinter abstrakten Institutionen und Billionen an Kapital stehen, ihr Erfolgsgeheimnis, ihre privilegierte Existenz und die Auswirkungen auf unser Finanzsystem und damit auch auf die Zukunft unserer Wirtschaft und Gesellschaft. Erstmals überhaupt gibt Sandra Navidi damit einen Einblick in die sonst hermetisch abgeriegelte Machtelite.

The Power of Inaction

Author: Cornelia Woll
Publisher: Cornell University Press
ISBN: 9780801471148
Release Date: 2014-04-18
Genre: Business & Economics

Bank bailouts in the aftermath of the collapse of Lehman Brothers and the onset of the Great Recession brought into sharp relief the power that the global financial sector holds over national politics, and provoked widespread public outrage. In The Power of Inaction, Cornelia Woll details the varying relationships between financial institutions and national governments by comparing national bank rescue schemes in the United States and Europe. Woll starts with a broad overview of bank bailouts in more than twenty countries. Using extensive interviews conducted with bankers, lawmakers, and other key players, she then examines three pairs of countries where similar outcomes might be expected: the United States and United Kingdom, France and Germany, Ireland and Denmark. She finds, however, substantial variation within these pairs. In some cases the financial sector is intimately involved in the design of bailout packages; elsewhere it chooses to remain at arm’s length. Such differences are often ascribed to one of two conditions: either the state is strong and can impose terms, or the state is weak and corrupted by industry lobbying. Woll presents a third option, where the inaction of the financial sector critically shapes the design of bailout packages in favor of the industry. She demonstrates that financial institutions were most powerful in those settings where they could avoid a joint response and force national policymakers to deal with banks on a piecemeal basis. The power to remain collectively inactive, she argues, has had important consequences for bailout arrangements and ultimately affected how the public and private sectors have shared the cost burden of these massive policy decisions.

Global and Regional Problems

Author: Professor Pami Aalto
Publisher: Ashgate Publishing, Ltd.
ISBN: 9781409476580
Release Date: 2013-04-28
Genre: Political Science

Distinctive due to explicit and systematically developed links between international relations (IR) and related disciplines, this book addresses global and regional interactions and the complex policy problems that often characterise this agenda. Such enhanced communication is crucial for improving the capacity of IR to engage with concrete issues that today are of high policy relevance for international organisations, states, diplomats, mediators and humankind in general. Whilst the authors do not reject the present IR, they offer a wider research agenda with new directions intended not only for those IR scholars who are unsatisfied with the analytical power of the current discipline, but also for those working on 'international', 'foreign', 'global' or 'interregional' issues in other disciplines and fields of research. In this instance they pay particular attention to linking up with peace research, international political economy (IPE) and cultural political economy (CPE), sociology, political geography, development studies, linguistics, cultural studies, environmental studies and energy research, gender studies, and traditions of area studies.

After the Music Stopped

Author: Alan S. Blinder
Publisher: Penguin
ISBN: 9781101605875
Release Date: 2013-01-24
Genre: Business & Economics

New York Times Bestseller 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.

The Watchdog That Didn t Bark

Author: Dean Starkman
Publisher: Columbia University Press
ISBN: 9780231536288
Release Date: 2014-01-14
Genre: Language Arts & Disciplines

In this sweeping, incisive post mortem, Dean Starkman exposes the critical shortcomings that softened coverage in the business press during the mortgage era and the years leading up to the financial collapse of 2008. He locates the roots of the problem in the origin of business news as a market messaging service for investors in the early twentieth century. This access-dependent strain of journalism was soon opposed by the grand, sweeping work of the muckrakers. Propelled by the innovations of Bernard Kilgore, the great postwar editor of the Wall Street Journal, these two genres merged when mainstream American news organizations institutionalized muckraking in the 1960s, creating a powerful guardian of the public interest. Yet as the mortgage era dawned, deep cultural and structural shifts -- some unavoidable, some self-inflicted -- eroded journalism's appetite for its role as watchdog. The result was a deafening silence about systemic corruption in the financial industry. Tragically, this silence grew only more profound as the mortgage madness reached its terrible apogee from 2004 through 2006. Starkman frames his analysis in a broad argument about journalism itself, dividing the profession into two competing approaches -- access reporting and accountability reporting -- which rely on entirely different sources and produce radically different representations of reality. As Starkman explains, access journalism came to dominate business reporting in the 1990s, a process he calls "CNBCization," and rather than examining risky, even corrupt, corporate behavior, mainstream reporters focused on profiling executives and informing investors. Starkman concludes with a critique of the digital-news ideology and corporate influence, which threaten to further undermine investigative reporting, and he shows how financial coverage, and journalism as a whole, can reclaim its bite.