Too Big To Fail In Banking
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Too Big To Fail
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Author : Gary H. Stern
language : en
Publisher: Rowman & Littlefield
Release Date : 2004-02-29
Too Big To Fail written by Gary H. Stern and has been published by Rowman & Littlefield this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-02-29 with Business & Economics categories.
The potential failure of a large bank presents vexing questions for policymakers. It poses significant risks to other financial institutions, to the financial system as a whole, and possibly to the economic and social order. Because of such fears, policymakers in many countries—developed and less developed, democratic and autocratic—respond by protecting bank creditors from all or some of the losses they otherwise would face. Failing banks are labeled "too big to fail" (or TBTF). This important new book examines the issues surrounding TBTF, explaining why it is a problem and discussing ways of dealing with it more effectively. Gary Stern and Ron Feldman, officers with the Federal Reserve, warn that not enough has been done to reduce creditors' expectations of TBTF protection. Many of the existing pledges and policies meant to convince creditors that they will bear market losses when large banks fail are not credible, resulting in significant net costs to the economy. The authors recommend that policymakers enact a series of reforms to reduce expectations of bailouts when large banks fail.
The Myth Of Too Big To Fail
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Author : I. Moosa
language : en
Publisher: Springer
Release Date : 2010-10-27
The Myth Of Too Big To Fail written by I. Moosa and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-10-27 with Business & Economics categories.
The book presents arguments against the taxpayers'-funded bailing out of failed financial institutions, and puts forward suggestions to circumvent the TBTF problem, including some preventive measures. It ultimately argues that a failing financial institution should be allowed to fail without fearing an apocalyptic outcome.
Too Big To Fail In Banking
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Author : Tom Filip Lesche
language : en
Publisher: Springer Gabler
Release Date : 2021-07-09
Too Big To Fail In Banking written by Tom Filip Lesche and has been published by Springer Gabler this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-07-09 with Business & Economics categories.
This book provides a comprehensive summary of the latest academic research on the important topic of too-big-to-fail (TBTF) in banking. It explains TBTF from various perspectives including the range of regulatory measures proposed to counter TBTF, most notably the globally accepted regulation of global-systemically important banks (G-SIBs) and its main tool of capital surcharges. The empirical analysis quantifies the shareholder value of the G-SIB attribution by using quarterly observations from more than 750 global banks between Q2 2008 and Q3 2015. The main finding is that G-SIBs are confronted with a substantial relative valuation discount compared to non-G-SIBs. From the end of 2011 until the end of 2015, a stable discount of 0.6x–0.8x price-to-tangible common equity (P/TCE) is statistically highly significant. The results suggest that the G-SIB designation effect, which positively impacts G-SIBs’ share prices because of funding benefits from IGGs, is dominated by the regulatory G-SIB burden effect, which negatively impacts G-SIBs’ share prices because of lower profitability due to capital surcharges and other regulatory requirements placed on G-SIBs. The findings re-open the debate about whether breaking up G-SIBs would unlock shareholder value and whether G-SIBs are regulated efficiently.
Too Big To Fail
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Author : Andrew Ross Sorkin
language : en
Publisher: Penguin
Release Date : 2010-09-07
Too Big To Fail written by Andrew Ross Sorkin and has been published by Penguin this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-09-07 with Business & Economics categories.
Brand New for 2018: an updated edition featuring a new afterword to mark the 10th anniversary of the financial crisis The brilliantly reported New York Times bestseller that goes behind the scenes of the financial crisis on Wall Street and in Washington to give the definitive account of the crisis, the basis for the HBO film “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 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.
Nothing Is Too Big To Fail
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Author : Kerry Killinger
language : en
Publisher: Rosetta Books
Release Date : 2021-03-23
Nothing Is Too Big To Fail written by Kerry Killinger and has been published by Rosetta Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-03-23 with Business & Economics categories.
No institution, government, or country is “too big to fail.” A behind-the-scenes account of what led to the 2008 crisis—and may soon lead to a bigger one. Written by two bank executives with firsthand experience of several financial crises, Nothing is Too Big to Fail holds a stiff warning about the future of finance and social justice—revealing how the US government’s fiscal and monetary policies are creating asset and debt bubbles that could burst at any time. The COVID-19 pandemic is just one of many risks that could derail our highly leveraged and fragile economic system. The authors also tell how government actions and an unregulated shadow banking system are leading to inequitable distribution of wealth, destroying the middle class, reducing trust in government, and accelerating racial injustice. No institution, government, or country is “too big to fail.” This book offers lessons learned from past crises and recommended actions for business and government leaders to take today to return our economic system and our democracy to a safer trajectory.
Quicklet On Too Big To Fail By Andrew Ross Sorkin
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Author : Noelle Duncan
language : en
Publisher: Hyperink Inc
Release Date : 2011-12-07
Quicklet On Too Big To Fail By Andrew Ross Sorkin written by Noelle Duncan and has been published by Hyperink Inc this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-12-07 with Study Aids categories.
Quicklets: Learn More. Read Less. Andrew Ross Sorkin is an award-winning journalist and New York Times best-selling author. He has been a regular contributor to The New York Times since he was a student at Cornell University. He is also a co-anchor of CNBC's Squawk Box, a business news program and founder of DealBook, a news service that reports on daily deal-making on Wall Street. Sorkin is a recipient of the Gerald Loeb award for business journalism in Too Big to Fail and a Society of American Business Editors and Writers award for breaking news. Sorkin wrote Too Big to Fail to provide a detailed, moment-by-moment account of the 2008 financial crisis. He used interviews with over two hundred individuals involved in the financial meltdown to piece together a blow-by-blow narrative of events. Too Big to Fail recounts the story of the unbelievable events of the 2008 financial crisis, Lehman Brothers' historic collapse, the Bank of America-Merrill Lynch merger, the nationalization of AIG, and Morgan Stanley and Goldman Sachs' transformations into highly regulated banks. Beyond the story of failed financial empires, Too Big to Fail is a human drama, telling stories of the greed, hubris and perseverance of some of the biggest players on Wall Street and in the U.S. Government. Too Big to Fail won a Gerald Loeb award and remained on The New York Times Best Seller List list for six months. Reuters dubbed it “The Book of the Crisis. Too Big to Fail received glowing reviews in top publications such as the Bloomberg News Review, The Economist, and The Financial Times. Sorkin continues to be seen as a top authority on all things Wall Street. BOOK EXCERPT FROM THE ANDREW ROSS SORKIN QUICKLET: TOO BIG TO FAIL The chapter opens with Tim Geithner, President of the New York Federal Reserve, arriving in Washington, DC. Only a few weeks earlier, Geithner had co-facilitated the $29 billion government backstop that helped persuade Jamie Dimon to take over Bear Stearns. His decision to back Bear Stearns was unpopular with many in the private and public sectors. Geithner also struggled with being unpopular on Wall Street, as he was regarded as young and inexperienced. Unlike his predecessors, he wasn't a former Wall Street banker or an investor, but a career technocrat. Despite Geithner's "greenness", he was one of the few who was skeptical of Wall Street's credit boom before it collapsed. Geithner and Robert Steel, Undersecretary for Domestic Finance for the Treasury, attend a meeting with the Senate Banking Committee. Steel dodges questions regarding the government's role in the Bear Stearns fire sale deal. Members of the Senate express their discontent with the government-assisted takeover and question whether this might set a dangerous precedent for other companies on Wall Street. Steel and Geithner defend their actions and explain that the deal was done for the good of the country and the global financial system, not for private gain. The details of the Bear Stearns deal are revealed in this chapter. Weeks earlier, Dimon received a call from Alan Schwartz, the CEO of Bear Stearns, asking for help – he needed $30 billion to survive. Unable to produce the amount on short notice, Dimon called Geithner, who was able to grant JP Morgan a loan over the weekend. Geithner pressured Dimon to take over Bear Stearns in order to stabilize the financial market. ...to be continued! Quicklets: Learn More. Read Less.
How Big Banks Fail And What To Do About It
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Author : Darrell Duffie
language : en
Publisher: Princeton University Press
Release Date : 2010-10-18
How Big Banks Fail And What To Do About It written by Darrell Duffie and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-10-18 with Business & Economics categories.
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.
Too Big To Fail
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Author : Andrew Ross Sorkin
language : en
Publisher: National Geographic Books
Release Date : 2010-09-07
Too Big To Fail written by Andrew Ross Sorkin and has been published by National Geographic Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-09-07 with Business & Economics categories.
Brand New for 2018: an updated edition featuring a new afterword to mark the 10th anniversary of the financial crisis The brilliantly reported New York Times bestseller that goes behind the scenes of the financial crisis on Wall Street and in Washington to give the definitive account of the crisis, the basis for the HBO film “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 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.
The Bank That Lived A Little
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Author : Philip Augar
language : en
Publisher: Penguin UK
Release Date : 2018-07-05
The Bank That Lived A Little written by Philip Augar and has been published by Penguin UK this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-07-05 with Business & Economics categories.
Based on unparalleled access to those involved, and told with compelling pace and drama, The Bank that Lived a Little describes three decades of boardroom intrigue at one of Britain's biggest financial institutions. In a tale of feuds, grandiose dreams and a struggle for supremacy between rival strategies and their adherents, Philip Augar gives a riveting account of Barclays' journey from an old Quaker bank to a full-throttle capitalist machine. The disagreement between those ambitious for Barclays to join the top table of global banks, and those preferring a smaller domestic role more in keeping with the bank's traditions, cost three chief executives their jobs and continues to divide opinion within Barclays, the City and beyond. This is an extraordinary corporate thriller, which among much else describes how Barclays came to buy Lehman Brothers for a bargain price in 2008, why it was so keen to avoid taking government funding during the financial crisis, and the price shareholders have paid for a decade of barely controlled ambition. But Augar also shows how Barclays' experiences are a paradigm for Britain's social and economic life over thirty years, which saw the City move from the edge of the economy to its very centre. These decades created unprecedented prosperity for a tiny number, and made the reputations of governments and individuals but then left many of them in tatters. The leveraged society, the winner-takes-all mentality and our present era of austerity can all be traced to the influence of banks such as Barclays. Augar's book tells this rollercoaster story from the perspective of many of its participants - and also of those affected by the grip they came to have on Britain.
The Causes And Effects Of The Lehman Brothers Bankruptcy
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Author : United States. Congress. House. Committee on Oversight and Government Reform
language : en
Publisher:
Release Date : 2010
The Causes And Effects Of The Lehman Brothers Bankruptcy written by United States. Congress. House. Committee on Oversight and Government Reform and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Business & Economics categories.