Uncontrolled Risk: Lessons of Lehman Brothers and How Systemic Risk Can Still Bring Down the World Financial System

Uncontrolled Risk: Lessons of Lehman Brothers and How Systemic Risk Can Still Bring Down the World Financial System
Author: Mark Williams
Publisher: McGraw Hill Professional
Total Pages: 257
Release: 2010-04-16
Genre: Business & Economics
ISBN: 0071749047

Download Uncontrolled Risk: Lessons of Lehman Brothers and How Systemic Risk Can Still Bring Down the World Financial System Book in PDF, Epub and Kindle

Why was Lehman ignored when everyone else was bailed out? A risk advisor for top financial institutions and top B-school professor, Mark Williams explains how uncontrolled risk toppled a 158-year-old institution, using this story as a microcosm to illuminate the interconnection of the global financial system, as well as broader policy implications. This story is told through the eyes of an experienced risk manager and educator in a detailed and engaging way and provides the reader with a complete summary of how a savvy company with sophisticated employees and systems could have gotten it so wrong.

Author:
Publisher: Penguin Books India
Total Pages: 533
Release:
Genre:
ISBN: 0670086088

Download Book in PDF, Epub and Kindle

Systemic Risk

Systemic Risk
Author: Helmut Willke
Publisher: Campus Verlag
Total Pages: 285
Release: 2013-09-10
Genre: Political Science
ISBN: 3593421267

Download Systemic Risk Book in PDF, Epub and Kindle

Seit der Finanz- und Staatsschuldenkrise kursiert das Schlagwort des "systemischen Risikos". Doch handelt es sich dabei um ein ökonomisches oder um ein politisches Problem? Das Buch entwickelt ein integratives Verständnis von systemischen Risiken und beleuchtet Fragen der politischen Steuerung des globalen Finanzsystems im 21. Jahrhundert - und dabei der politischen Ordnung, Legitimität und Expertise.

The Financial Crisis Inquiry Report

The Financial Crisis Inquiry Report
Author: Financial Crisis Inquiry Commission
Publisher: Cosimo, Inc.
Total Pages: 692
Release: 2011-05-01
Genre: Political Science
ISBN: 1616405414

Download The Financial Crisis Inquiry Report Book in PDF, Epub and Kindle

The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.

The Consequences of the Global Financial Crisis

The Consequences of the Global Financial Crisis
Author: Wyn Grant
Publisher: Oxford University Press, USA
Total Pages: 287
Release: 2012-05-24
Genre: Business & Economics
ISBN: 0199641986

Download The Consequences of the Global Financial Crisis Book in PDF, Epub and Kindle

Systematically exploring the consequences of the global financial crisis, this text focuses primarily on the impact on policy and politics. It asks how governments responded to the challenges that the crisis has posed, and the policy and political impact of the combination of both the crisis itself and these responses.

Connectedness and Contagion

Connectedness and Contagion
Author: Hal S. Scott
Publisher: MIT Press
Total Pages: 439
Release: 2016-05-13
Genre: Business & Economics
ISBN: 0262034379

Download Connectedness and Contagion Book in PDF, Epub and Kindle

An argument that contagion is the most significant risk facing the financial system and that Dodd¬Frank has reduced the government's ability to respond effectively. The Dodd–Frank Act of 2010 was intended to reform financial policies in order to prevent another massive crisis such as the financial meltdown of 2008. Dodd–Frank is largely premised on the diagnosis that connectedness was the major problem in that crisis—that is, that financial institutions were overexposed to one another, resulting in a possible chain reaction of failures. In this book, Hal Scott argues that it is not connectedness but contagion that is the most significant element of systemic risk facing the financial system. Contagion is an indiscriminate run by short-term creditors of financial institutions that can render otherwise solvent institutions insolvent. It poses a serious risk because, as Scott explains, our financial system still depends on approximately $7.4 to $8.2 trillion of runnable and uninsured short-term liabilities, 60 percent of which are held by nonbanks. Scott argues that efforts by the Federal Reserve, the FDIC, and the Treasury to stop the contagion that exploded after the bankruptcy of Lehman Brothers lessened the economic damage. And yet Congress, spurred by the public's aversion to bailouts, has dramatically weakened the power of the government to respond to contagion, including limitations on the Fed's powers as a lender of last resort. Offering uniquely detailed forensic analyses of the Lehman Brothers and AIG failures, and suggesting alternative regulatory approaches, Scott makes the case that we need to restore and strengthen our weapons for fighting contagion.

The World Economy and Financial System

The World Economy and Financial System
Author: Levent Sümer
Publisher: Springer Nature
Total Pages: 196
Release: 2023-04-17
Genre: Business & Economics
ISBN: 3031275306

Download The World Economy and Financial System Book in PDF, Epub and Kindle

This book introduces a new economic and financial system to replace the flawed current system. The past financial crises, including the Great Depression, the Global Financial Crisis, the COVID-19 pandemic, and the ongoing war between Russia and Ukraine, have showed us that the global financial system has problems and that a paradigm change and mindset shift to provide a better world to society is essential. This book brings a new sustainable approach to replace the current system and will be of interest to academics, policymakers, and professionals working with financial markets, financial economics, sustainability, and impact finance.

The Financial Crisis in Perspective (Collection)

The Financial Crisis in Perspective (Collection)
Author: Mark Zandi
Publisher: FT Press
Total Pages: 1044
Release: 2012-05
Genre: Business & Economics
ISBN: 0133087492

Download The Financial Crisis in Perspective (Collection) Book in PDF, Epub and Kindle

How the financial crisis really happened, and what it really meant: 3 books packed with lessons for investors and policymakers! These three books offer unsurpassed insight into the causes and implications of the global financial crisis: information every investor and policy-maker needs to prepare for an extraordinarily uncertain future. In Financial Shock, Updated Edition, renowned economist Mark Zandi provides the most concise, lucid account of the economic, political, and regulatory causes of the collapse, plus new insights into the continuing impact of the Obama administration's policies. Zandi doesn't just illuminate the roles of mortgage lenders, investment bankers, speculators, regulators, and the Fed: he offers sensible recommendations for preventing the next collapse. In Extreme Money, best-selling author and global finance expert Satyajit Das reveals the spectacular, dangerous money games that are generating increasingly massive bubbles of fake growth, prosperity, and wealth, while endangering the jobs, possessions, and futures of everyone outside finance. Das explains how everything from home mortgages to climate change have become fully financialized... how "voodoo banking" keeps generating massive phony profits even now... and how a new generation of "Masters of the Universe" has come to own the world. Finally, in The Fearful Rise of Markets, top Financial Times global finance journalist John Authers reveals how the first truly global super bubble was inflated, and may now be inflating again. He illuminates the multiple roots of repeated financial crises, presenting a truly global view that avoids both oversimplification and ideology. Most valuable of all, Authers offers realistic solutions: for decision-makers who want to prevent disaster, and investors who want to survive it. From world-renowned leaders and experts, including Dr. Mark Zandi, Satyajit Das, and John Authers

Assessing Risk Assessment

Assessing Risk Assessment
Author: Christian Hugo Hoffmann
Publisher: Springer
Total Pages: 377
Release: 2017-11-14
Genre: Business & Economics
ISBN: 3658200324

Download Assessing Risk Assessment Book in PDF, Epub and Kindle

Christian Hugo Hoffmann undermines the citadel of risk assessment and management, arguing that classical probability theory is not an adequate foundation for modeling systemic and extreme risk in complex financial systems. He proposes a new class of models which focus on the knowledge dimension by precisely describing market participants’ own positions and their propensity to react to outside changes. The author closes his thesis by a synthetical reflection on methods and elaborates on the meaning of decision-making competency in a risk management context in banking. By choosing this poly-dimensional approach, the purpose of his work is to explore shortcomings of risk management approaches of financial institutions and to point out how they might be overcome.

Case Studies in Crisis Communication

Case Studies in Crisis Communication
Author: Amiso M. George
Publisher: Routledge
Total Pages: 687
Release: 1997-08-13
Genre: Business & Economics
ISBN: 1136593721

Download Case Studies in Crisis Communication Book in PDF, Epub and Kindle

Case Studies in Crisis Communication: International Perspectives on Hits and Misses was created to fill the gap for a much-needed textbook in case studies in crisis communication from international perspectives. The events of September 11, 2001, other major world crises, and the ongoing macroeconomic challenges of financial institutions, justify the need for this book. While existing textbooks on the subject focus on U.S. corporate cases, they may not appeal equally to students and practitioners in other countries, hence the need to analyze cases from the United States and from other world regions. The variety and the international focus of the cases, be they environmental, health or management successes or failures, makes this book more appealing to a wider audience. These cases examine socio-cultural issues associated with responding to a variety of crises.