(1)
During the most dizzying days of the financial crisis, Washington Mutual, a bank with hundreds of billions of dollars in its coffers, suffered a crippling bank run. The story of its final, brutal collapse in the autumn of 2008, and its controversial sale to JPMorgan Chase, is an astonishing account of how one bank lost itself to greed and mismanagement, and how the entire financial industry--and even the entire country-- lost its way as well. Kirsten Grind's "The Lost Bank "is a magisterial and gripping account of these events, tracing the cultural shifts, the cockamamie financial engineering, and the hubris and avarice that made this incredible story possible. The men and women who become the central players in this tragedy-- the regulators and the bankers, the home buyers and the lenders, the number crunchers and the shareholders--are heroes and villains, perpetrators and victims, often switching roles with one another as the drama unfolds. As a reporter at the time for the "Puget Sound Business Journal, "Grind covered a story set far from the epicenters of finance and media. It happened largely in places such as the suburban homes of central California and the office buildings of Seattle, but Grind covered the story from the beginning, and the clarity and persistence of her reporting earned her many awards, including being named a finalist for the Pulitzer Prize and the Gerald Loeb Award. She takes readers into boardrooms and bedrooms, revealing the power struggles that pitted regulators at the Office of Thrift Supervision and the FDIC against one another and the predatory negotiations of investment bankers and lawyers who enriched themselves during the bank's rise and then devoured the decimated bank in its final days. Written as compellingly as the finest fiction, "The Lost Bank "makes it clear that the collapse of Washington Mutual was not just the largest bank failure in American history. It is a story of talismanic qualities, reflecting the incredible rise a
The ultimate guide for bank senior management: how to survive and thrive throughout the business cycle An essential guide for bankers around the world that reiterates that the primary requirement of banking--sound capital and liquidity risk management--has been forgotten, The Principles of Banking serves as a policy guide for all market practitioners and regulators. Explaining the keys to success for all banks that bankers need to follow during good times in order to be prepared for the bad, the book provides in-depth technical analysis of exactly what constitutes good banking practice. With an emphasis on viewing business cycles as patterns of stable and stressful market behaviour, The Principles of Banking is an essential policy guide for today and tomorrow. * Illustrates how unsound banking practices that were evident in previous bank crashes were repeated during the creation of the 2007-2008 financial market crisis* Provides a template that can be used to create a sound liquidity and asset-liability management framework at any bank* An essential resource for the international banking community as it seeks to re-establish its credibility* Explains the original principles of banking, including sound lending policy and liquidity management, and why these need to be restated in order to avoid another bank crisis at the time of the next economic recession It's time to get back to basics in the banking community, and The Principles of Banking shows exactly where to start.
"The Repo Handbook, 2nd Edition" presents an overview of repo vehicles and markets with sufficient depth for those seeking detailed explanations. In three parts it demonstrates how these secured loans fit into global capital markets and why they account for up to 50 per cent of daily settlement activity in non-US government bonds worldwide. This new edition replaces old examples and introduces new developments, such as structured finance repo and associated topics such as Basel II regulatory rules. In addition, 12 of 18 chapters feature new sections and 4 have been substantially rewritten. The UK gilt and US Treasury repo markets are explored through worked examples, and there are new sections on funding arbitrage trades, risk exposures, and regulatory capital. It also places repo in context within bank asset-liability management and trading techniques, illustrating repo use across a wide range of applications in the global money markets. Rarely mentioned in the financial press because of the simple, straightforward nature of the instrument, repo was often the only funding source available to banks during the last quarter of 2008 and the first in 2009. This book, written by a trader, will draw new attention to this valuable and efficient funding and investment product. It describes repo instruments, which appeal to market participants because of their simplicity and malleability. It explains the institutional treatment of repos, especially in terms of risk, accounting, tax and legal issues, and equity repo. It details the government bond basis, implied repo rate, and basis trading.
(2)
New, ship fast, delivered in 5 days No PO Box.
"The Devil's Derivatives" charts the untold story of modern financial innovation how investment banks invented new financial products, how investors across the world were wooed into buying them, how regulators were seduced by the political rewards of easy credit, and how speculators made a killing from the near-meltdown of the financial system. Author Nicholas Dunbar demystifies the revolution that briefly gave finance the same intellectual respectability as theoretical physics. He explains how bankers created a secret trillion-dollar machine that delivered cheap mortgages to the masses and riches beyond dreams to the financial innovators. Fundamental to this saga is how 'the people who hated to lose' were persuaded to accept risk by 'the people who loved to win.' Why did people come to trust and respect arcane financial tools? Who were the bankers competing to assemble the basic components into increasingly intricate machines? And how did this process achieve its own unstoppable momentum, ending in collapse, bailouts, and a public outcry against the stars of finance? Provocative and intriguing, "The Devil's Derivatives" sheds much-needed light on the forces that fueled the most brutal economic downturn since the Great Depression.
Hardcover
New, ship fast, delivered in 5 days No PO Box.
