Feldkamp / Whalen Financial Stability

Fraud, Confidence and the Wealth of Nations
1. Auflage 2014
ISBN: 978-1-118-93580-4
Verlag: John Wiley & Sons
Format: EPUB
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 256 Seiten, E-Book

Reihe: Wiley Finance Editions

Applying the Lessons of History to Understanding Fraud Today andTomorrow
Financial Stability provides a roadmap by which the worldcan anticipate and avoid future financial disruptions. This uniquediscussion of past and present financial events offers new insightsthat explain economic, political, and legal antecedents offinancial crises in Western markets. With a detailed discussion ofthe history of finance, this book shows modern investors andfinance professionals how to learn from past successes and failuresto gauge future market threats.
Readers will gain new insight into the antecedents of todaysfinancial markets and the political economy that surrounds them.Armed with this knowledge, they will be able to craft a strategythat steers away from financial disorder and toward maximumstability. Coverage includes discussion of capital, forecasting,and political reaction, and past, present, and future applicationswithin all realms of business. The companion website offersadditional data and research, providing a complete resource forthose seeking a better understanding of the risk at hand.
As the world struggles to emerge from the latest financialcrisis, professionals in finance, the law and other disciplines,and the people they advise, are searching for understanding toavoid future crises. Financial Stability argues that thebest lessons are learned from our own mistakes, and that theability to look ahead depends upon our willingness to look back.Readers will:
* Review the historical laws, practices, and outcomes that shapedthe modern day financial markets of the great westerneconomies
* Understand the theory of financial stability, the roles of lawand transparency, and the importance of action to punish fraud inorder to prevent future contagion
* Work through the theoretical proofs in terms of math, law,accounting, economics, philosophy, and international trade
* Build a strategy for the future with consideration towardneeds, sources, balance, and learning from past mistakes
Everywhere around the globe, at all points in history, financialcrises have always been rooted in the confluence of politics,finance, and law. Financial Stability puts the latest globalfinancial crisis in perspective, highlighting the lessons we havealready learned, and those we need to internalize today.

Autoren/Hrsg.

Feldkamp, Frederick L.

Whalen, R. Christopher

Inhaltsverzeichnis

Preface
Introduction
Part 1: A Flight through Financial Market History--Freedomand Fraud
Chapter 1. The First Few Millennia
Chapter 2. The Bank of England and the Scottish Enlightenment
Chapter 3. U.S. Banking, from British Colonies to 1865
Chapter 4. Bagehot's Dictum (a.k.a. the "Greenspan Put")
Chapter 5. U.S. Financial Markets from 1865 to the GreatDepression
Chapter 6. Depression, War, and Aftermath--Reflecting onFinance from 1929 to 1973
Chapter 7. Early Deregulation: The Transactions that ReplacedDepression Era Thrifts
Chapter 8. Riskless Arbitrage--Stand-alone CollateralizedMortgage Obligations ("CMOs")
Chapter 9. Paradise Gained, Lost, Regained, andDestroyed--1992 to 2008
Chapter 10. Resurrection, Recovery and Reform--2008-2013
Chapter 11. Different Circumstances Require DifferentSolutions
Part 2: The Theory of Financial Stability
Chapter 12. Statement: Rule of Law + Freedom +Transparency --> Equilibrium
Chapter 13. Saying vs. Doing
Part 3: Proofs of the Theory of Financial Stability
Chapter 14. Mathematics: (1 + i)x > (E =mc²)
Chapter 15. Law: Incomplete "Sale" identical to Secured Borrowing
Chapter 16. Economics: Savings identical to Investment
Chapter 17. Accounting: Assets identical to Liabilities +Capital
Chapter 18. International Trade: Current AccountDeficit identical to Capital Investment -- DomesticSavings
Chapter 19. Philosophy: Benevolence > Self Interest >Fraud
Part 4: The Future
Chapter 20. Achieving Wisdom While Avoiding Mistakes ofExperience
Chapter 21. Capital Needs
Chapter 22. Sources of Capital
Chapter 23. Managing the Water Balloon
Chapter 24. Balancing the Bubbles
Epilogue: Truth and Consequences
References
About the Companion Website
About the Authors
Index

Über Autor(innen)

FREDERICK L. FELDKAMP is a retired partner of Foley &Lardner, LLP, where he chaired the firm's financial assetsecuritization practice. He has been a key contributor to the legalbasis of mortgage-backed securities and other financial innovationsin the United States. Feldkamp's numerous publications haveappeared in peer-reviewed legal journals around the world.
R. CHRISTOPHER WHALEN is an investment banker and authorwho lives in New York City. He is Senior Managing Director and Headof Research at Kroll Bond Rating Agency, where he is responsiblefor financial institution and corporate ratings. Over the pastthree decades, he has worked for financial firms such as Bear,Stearns & Co., Prudential Securities, Tangent Capital Partners,and Carrington. He was a co-founder and principal of InstitutionalRisk Analytics from 2003 through 2013, when the firm was acquiredby Total Bank Solutions.