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Infectious Greed
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Download or read book Infectious Greed written by Frank Partnoy and published by Times Books. This book was released on 2014-06-03 with total page 644 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the bestselling author of F.I.A.S.C.O., a riveting chronicle of the rise of dangerous financial instruments and the growing crisis in American business One by one, major corporations such as Enron, Global Crossing, and Worldcom imploded all around us, prey to a greed-driven culture and dubious or illegal corporate finance and accounting. In a compelling and disturbing narrative, Frank Partnoy's Infectious Greed brings to bear all of his skills and experience as a securities attorney, financial analyst, law professor, and bestselling author to tell the story of the rise of the trading instruments and corporate financial structures that imperil the economic health of the country. Starting in the mid-1980s with the introduction of the first proto-derivatives, and taking us through such high-profile disasters as Barings Bank and Long Term Capital Management, Partnoy traces a seamless progression to today's dangerous manipulations. He documents how each new level of financial risk and complexity obscured the sickness of the company in question, and required ever more ingenious deceptions. It's an alarming story, but Partnoy offers a clear vision of how we can step back from the precipice.
Book Synopsis Infectious Greed by : John R. Nofsinger
Download or read book Infectious Greed written by John R. Nofsinger and published by FT Press. This book was released on 2003 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: In "Infectious Greed, " the authors begin with an assessment of what really happened in the recent big business collapses. Next, they offer systematic solutions that align incentives to promote desirable actions. Their solutions build on what's best about capitalism, and can truly restore the investor confidence that is essential to the system's long-term success.
Download or read book The Match King written by Frank Partnoy and published by PublicAffairs. This book was released on 2010-03-09 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: At the height of the roaring '20s, Swedish 'migr' Ivar Kreuger made a fortune raising money in America and loaning it to Europe in exchange for matchstick monopolies. His enterprise was a rare success story throughout the Great Depression. Yet after Kreuger's suicide in 1932, the true nature of his empire emerged. Driven by success to adopt ever-more perilous practices, Kreuger had turned to shell companies in tax havens, fudged accounting figures, off-balance-sheet accounting, even forgery. He created a raft of innovative financial products -- many of them precursors to instruments wreaking havoc in today's markets. When his Wall Street empire collapsed, millions went bankrupt. Frank Partnoy, a frequent commentator on financial disaster for the Financial Times, New York Times, NPR, and CBS's "60 Minutes," recasts the life story of a remarkable yet forgotten genius in ways that force us to re-think our ideas about the wisdom of crowds, the invisible hand, and the free and unfettered market.
Download or read book F.I.A.S.C.O. written by Frank Partnoy and published by W. W. Norton & Company. This book was released on 2009 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this behind-the-scenes look at one of the world's top Wall Street investment firms, Partnoy recounts his experience during the annual drunken skeet-shooting competition where he and his colleagues sharpen the killer instincts they're encouraged to use against competitors, clients, and each other.
Download or read book Broken Trust written by Samuel P. King and published by University of Hawaii Press. This book was released on 2006-01-01 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: Princess Bernice Pauahi Bishop was the largest landowner and richest woman in the Hawaiian kingdom. Upon her death in 1884, she entrusted her property--"known as Bishop Estate--"to five trustees in order to create and maintain an institution that would benefit the children of Hawai'i: Kamehameha Schools. A century later, Bishop Estate controlled nearly one out of every nine acres in the state, a concentration of private land ownership rarely seen anywhere in the world. Then in August 1997 the unthinkable happened: Four revered kupuna (native Hawaiian elders) and a professor of trust-law publicly charged Bishop Estate trustees with gross incompetence and massive trust abuse. Entitled "Broken Trust," the statement provided devastating details of rigged appointments, violated trusts, cynical manipulation of the trust's beneficiaries, and the shameful involvement of many of Hawai'i's powerful. No one is better qualified to examine the events and personalities surrounding the scandal than two of the original "Broken Trust" authors.Their comprehensive account together with historical background, brings to light information that has never before been made public, including accounts of secret meetings and communications involving Supreme Court justices.
Download or read book Wait written by Frank Partnoy and published by PublicAffairs. This book was released on 2012-06-26 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: What do these scenarios have in common: a professional tennis player returning a serve, a woman evaluating a first date across the table, a naval officer assessing a threat to his ship, and a comedian about to reveal a punch line? In this counterintuitive and insightful work, author Frank Partnoy weaves together findings from hundreds of scientific studies and interviews with wide-ranging experts to craft a picture of effective decision-making that runs counter to our brutally fast-paced world. Even as technology exerts new pressures to speed up our lives, it turns out that the choices we make––unconsciously and consciously, in time frames varying from milliseconds to years––benefit profoundly from delay. As this winning and provocative book reveals, taking control of time and slowing down our responses yields better results in almost every arena of life … even when time seems to be of the essence. The procrastinator in all of us will delight in Partnoy’s accounts of celebrity “delay specialists,” from Warren Buffett to Chris Evert to Steve Kroft, underscoring the myriad ways in which delaying our reactions to everyday choices––large and small––can improve the quality of our lives.
Book Synopsis The Greed Merchants by : Philip Augar
Download or read book The Greed Merchants written by Philip Augar and published by . This book was released on 2005 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the author of "Player Manager" comes a controversial insider's look at the secret world of investment banking.
Download or read book Age of Greed written by Jeff Madrick and published by Vintage. This book was released on 2012-06-12 with total page 482 pages. Available in PDF, EPUB and Kindle. Book excerpt: A vivid history of the economics of greed told through the stories of those major figures primarily responsible. Age of Greed shows how the single-minded and selfish pursuit of immense personal wealth has been on the rise in the United States over the last forty years. Economic journalist Jeff Madrick tells this story through incisive profiles of the individuals responsible for this dramatic shift in our country’s fortunes, from the architects of the free-market economic philosophy (such as Milton Friedman and Alan Greenspan) to the politicians and businessmen (including Nixon, Reagan, Boesky, and Soros) who put it into practice. Their stories detail how a movement initially conceived as a moral battle for freedom instead brought about some of our nation's most pressing economic problems, including the intense economic inequity and instability America suffers from today. This is an indispensible guide to understanding the 1 percent.
Book Synopsis Infectious Greed by : John Nofsinger
Download or read book Infectious Greed written by John Nofsinger and published by . This book was released on 2005-08 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial scandals have led to a fundamental crisis in the Amer. corp. system: investors believe they have been betrayed by the managers, boards, accountants, & invest. advisors they once trusted. The fundamental challenge is to restore confidence, but finger-pointing & tougher laws simply won't be enough. This book begins with an assessment of what really happened: how exec. compensation systems have led to unethical & greedy behavior, & why monitoring systems & regulators failed. Identifies powerful reforms that realign incentives to actively promote integrity & discourage malfeasance. Offers the first real prescription for restoring investor confidence in both the short- & long-term -- & for getting the U.S. economic system back on track. Illus.
Book Synopsis Strange Contagion by : Lee Daniel Kravetz
Download or read book Strange Contagion written by Lee Daniel Kravetz and published by HarperCollins. This book was released on 2017-06-27 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: Picking up where The Tipping Point leaves off, respected journalist Lee Daniel Kravetz’s Strange Contagion is a provocative look at both the science and lived experience of social contagion. In 2009, tragedy struck the town of Palo Alto: A student from the local high school had died by suicide by stepping in front of an oncoming train. Grief-stricken, the community mourned what they thought was an isolated loss. Until, a few weeks later, it happened again. And again. And again. In six months, the high school lost five students to suicide at those train tracks. A recent transplant to the community and a new father himself, Lee Daniel Kravetz’s experience as a science journalist kicked in: what was causing this tragedy? More important, how was it possible that a suicide cluster could develop in a community of concerned, aware, hyper-vigilant adults? The answer? Social contagion. We all know that ideas, emotions, and actions are communicable—from mirroring someone’s posture to mimicking their speech patterns, we are all driven by unconscious motivations triggered by our environment. But when just the right physiological, psychological, and social factors come together, we get what Kravetz calls a "strange contagion:" a perfect storm of highly common social viruses that, combined, form a highly volatile condition. Strange Contagion is simultaneously a moving account of one community’s tragedy and a rigorous investigation of social phenomenon, as Kravetz draws on research and insights from experts worldwide to unlock the mystery of how ideas spread, why they take hold, and offer thoughts on our responsibility to one another as citizens of a globally and perpetually connected world.
Download or read book The Orchid Thief written by Susan Orlean and published by Ballantine Books. This book was released on 2011-07-20 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: NEW YORK TIMES BESTSELLER • A NEW YORK TIMES NOTABLE BOOK A modern classic of personal journalism, The Orchid Thief is Susan Orlean’s wickedly funny, elegant, and captivating tale of an amazing obsession. Determined to clone an endangered flower—the rare ghost orchid Polyrrhiza lindenii—a deeply eccentric and oddly attractive man named John Laroche leads Orlean on an unforgettable tour of America’s strange flower-selling subculture, through Florida’s swamps and beyond, along with the Seminoles who help him and the forces of justice who fight him. In the end, Orlean—and the reader—will have more respect for underdog determination and a powerful new definition of passion. In this new edition, coming fifteen years after its initial publication and twenty years after she first met the “orchid thief,” Orlean revisits this unforgettable world, and the route by which it was brought to the screen in the film Adaptation, in a new retrospective essay. Look for special features inside. Join the Random House Reader’s Circle for author chats and more. Praise for The Orchid Thief “Stylishly written, whimsical yet sophisticated, quirkily detailed and full of empathy . . . The Orchid Thief shows [Orlean’s] gifts in full bloom.”—The New York Times Book Review “Fascinating . . . an engrossing journey [full] of theft, hatred, greed, jealousy, madness, and backstabbing.”—Los Angeles Times “Orlean’s snapshot-vivid, pitch-perfect prose . . . is fast becoming one of our national treasures.”—The Washington Post Book World “Orlean’s gifts [are] her ear for the self-skewing dialogue, her eye for the incongruous, convincing detail, and her Didion-like deftness in description.”—Boston Sunday Globe “A swashbuckling piece of reporting that celebrates some virtues that made America great.”—The Wall Street Journal
Book Synopsis The Cashless Revolution by : Martin Chorzempa
Download or read book The Cashless Revolution written by Martin Chorzempa and published by Hachette UK. This book was released on 2022-10-04 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial Times, Best Books of 2022: Economics The startling picture of how China’s revolution in finance and technology is changing both Wall Street and the way individuals manage their personal finances. The future of finance – the way Wall Street operates and how individuals manage their money - is on the verge of upheaval. And the force underlying the change comes from China, where finance and technology are being merged into a system with consequences that resonate far beyond China’s border. The changes of this global revolution in finance and technology - fintech - will be as powerful as those wrought in social media, retailing and advertising by giants such as Amazon, Facebook, Google, and Twitter, which have overturned how we shop and communicate. China reinvented money with lightning speed, transforming a backward, antiquated cash-based finance system into one centered on super-apps created by technology giants Alibaba and Tencent. More powerful than anything available outside of China, they allow their billion users to pay, borrow, invest, buy goods and services, travel, chat (and far more) all fused together in one mobile phone application. Think Facebook, Google, Twitter, Goldman Sachs, Amazon, J.P. Morgan Chase all rolled into one app. We in the West need to understand China’s cashless revolution for reasons ranging from the macroeconomic to issues of personal liberty: The cutting edge of finance is now in China, forcing major financial firms in the United States and the West to figure out how not to be left behind.. China’s cashless revolution is also a harbinger of our future if we let the genie out of the bottle and allow big tech to become big finance. As money goes digital and central banks around the world consider launching digital currencies, we may have both immense convenience and a frightening concentration of power that could violate our privacy, stifle competition, increase financial risk, and give big firms or the government more control over our financial lives. And, once this genie is out of the bottle, the struggle to put it back in may be impossible.
Download or read book Hedge Hogs written by Barbara T. Dreyfuss and published by Random House. This book was released on 2013-05-21 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: For readers of The Smartest Guys in the Room and When Genius Failed, the definitive take on Brian Hunter, John Arnold, Amaranth Advisors, and the largest hedge fund collapse in history At its peak, hedge fund Amaranth Advisors LLC had more than $9 billion in assets. A few weeks later, it completely collapsed. The disaster was largely triggered by one man: thirty-two-year-old hotshot trader Brian Hunter. His high-risk bets on natural gas prices bankrupted his firm and destroyed his career, while John Arnold, his rival at competitor fund Centaurus, emerged as the highest-paid trader on Wall Street. Meticulously researched and character-driven, Hedge Hogs is a riveting fly-on-the-wall account of the largest hedge fund collapse in history: a blistering tale of the recent past that explains our precarious present . . . and may predict our future. Using emails, instant messages, court testimony, and exclusive interviews, securities analyst turned investigative reporter Barbara T. Dreyfuss charts the colliding paths of these two charismatic traders who dominated the speculative energy market. We follow Brian Hunter, the Canadian farm boy and elbows-out high school basketball star, as he achieves phenomenal early success, only to see his ambition, greed, and hubris precipitate his downfall. Set in relief is the journey of John Arnold, whose mild manner, sophisticated tastes, and low profile belied his own ferocious competitive streak. As the two clash, hundreds of millions of dollars in pension and endowment money is imperiled, with devastating public consequences. Hedge Hogs takes you behind closed doors into the shadowy world of hedge funds, the unregulated wild side of finance, where over-the-top parties and lavish perks abound and billions of dollars of other people’s money are in the hands of a tiny elite. Dreyfuss traces the rise of this freewheeling industry while detailing the decades of bank, hedge fund, and commodity deregulation that turned Wall Street into a speculative casino. A gripping saga peppered with fast money, vivid characters, and high drama, Hedge Hogs is also an important and timely cautionary tale—a vivisection of a financial system jeopardized by reckless practices, watered-down regulation, and loopholes in government oversight, just waiting for the next bust. Praise for Hedge Hogs “Regulators, legislators and judges inclined to sympathize with the industry ought to rush out and buy a copy of Barbara Dreyfuss’s Hedge Hogs, a wonderfully instructive tale about Amaranth Advisors. . . . Dreyfuss, a Wall Street analyst turned investigative journalist, not only plowed through what turned out to be a treasure trove of official records and transcripts, but supplemented it with plenty of her own reporting. She manages to organize it all into a tight, riveting and understandable yarn.”—The Washington Post “Clearly and entertainingly told . . . a salutary example of how traders who believe they are super-smart might be nothing more than lucky, and how there is nothing so intoxicating as the ability to speculate with other people’s money.”—The Economist “[Dreyfuss] does a great job of putting Amaranth’s out-of-control trader into historical context, explaining the blitz of deregulation that set the stage for someone like Hunter to do maximum damage.”—Bloomberg “The definitive take on the largest hedge fund collapse in history . . . You will not be able to put it down.”—Frank Partnoy, author of F.I.A.S.C.O. and Infectious Greed Named One of the Top 10 Business & Economics Books of the Season by Publishers Weekly
Download or read book Extreme Money written by Satyajit Das and published by FT Press. This book was released on 2011 with total page 481 pages. Available in PDF, EPUB and Kindle. Book excerpt: Everything from home mortgages to climate change has become financialized, as vast fortunes are generated by individuals who build nothing of lasting value. Das shows how "extreme money" has become ever more unreal; how "voodoo banking" continues to generate massive phony profits even now; and how a new generation of "Masters of the Universe" has come to domiinate the world.
Book Synopsis Final Accounting by : Barbara Ley Toffler
Download or read book Final Accounting written by Barbara Ley Toffler and published by Currency. This book was released on 2004-04-13 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: A withering exposé of the unethical practices that triggered the indictment and collapse of the legendary accounting firm. Arthur Andersen's conviction on obstruction of justice charges related to the Enron debacle spelled the abrupt end of the 88-year-old accounting firm. Until recently, the venerable firm had been regarded as the accounting profession's conscience. In Final Accounting, Barbara Ley Toffler, former Andersen partner-in-charge of Andersen's Ethics & Responsible Business Practices consulting services, reveals that the symptoms of Andersen's fatal disease were evident long before Enron. Drawing on her expertise as a social scientist and her experience as an Andersen insider, Toffler chronicles how a culture of arrogance and greed infected her company and led to enormous lapses in judgment among her peers. Final Accounting exposes the slow deterioration of values that led not only to Enron but also to the earlier financial scandals of other Andersen clients, including Sunbeam and Waste Management, and illustrates the practices that paved the way for the accounting fiascos at WorldCom and other major companies. Chronicling the inner workings of Andersen at the height of its success, Toffler reveals "the making of an Android," the peculiar process of employee indoctrination into the Andersen culture; how Androids—both accountants and consultants--lived the mantra "keep the client happy"; and how internal infighting and "billing your brains out" rather than quality work became the all-important goals. Toffler was in a position to know when something was wrong. In her earlier role as ethics consultant, she worked with over 60 major companies and was an internationally renowned expert at spotting and correcting ethical lapses. Toffler traces the roots of Andersen's ethical missteps, and shows the gradual decay of a once-proud culture. Uniquely qualified to discuss the personalities and principles behind one of the greatest shake-ups in United States history, Toffler delivers a chilling report with important ramifications for CEOs and individual investors alike.
Download or read book Superbug written by Maryn McKenna and published by Simon and Schuster. This book was released on 2010-03-23 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: LURKING in our homes, hospitals, schools, and farms is a terrifying pathogen that is evolving faster than the medical community can track it or drug developers can create antibiotics to quell it. That pathogen is MRSA—methicillin-resistant Staphyloccocus aureus—and Superbug is the first book to tell the story of its shocking spread and the alarming danger it poses to us all. Doctors long thought that MRSA was confined to hospitals and clinics, infecting almost exclusively those who were either already ill or old. But through remarkable reporting, including hundreds of interviews with the leading researchers and doctors tracking the deadly bacterium, acclaimed science journalist Maryn McKenna reveals the hidden history of MRSA’s relentless advance—how it has overwhelmed hospitals, assaulted families, and infiltrated agriculture and livestock, moving inexorably into the food chain. Taking readers into the medical centers where frustrated physicians must discard drug after drug as they struggle to keep patients alive, she discloses an explosion of cases that demonstrate how MRSA is growing more virulent, while evolving resistance to antibiotics with astonishing speed. It may infect us at any time, no matter how healthy we are; it is carried by a stunning number of our household pets; and it has been detected in food animals from cows to chickens to pigs. With the sensitivity of a novelist, McKenna portrays the emotional and financial devastation endured by MRSA’s victims, vividly describing the many stealthy ways in which the pathogen overtakes the body and the shock and grief of parents whose healthy children were felled by infection in just hours. Through dogged detective work, she discloses the unheard warnings that predicted the current crisis and lays bare the flaws that have allowed MRSA to rage out of control: misplaced government spending, inadequate public health surveillance, misguided agricultural practices, and vast overuse of the few precious drugs we have left. Empowering readers with the knowledge they need for self-defense, Superbug sounds an alarm: MRSA has evolved into a global emergency that touches almost every aspect of modern life. It is, as one deeply concerned researcher tells McKenna, "the biggest thing since AIDS."
Book Synopsis The Rules of Contagion by : Adam Kucharski
Download or read book The Rules of Contagion written by Adam Kucharski and published by Profile Books. This book was released on 2020-02-13 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: An Observer Book of the Year A Times Science Book of the Year A New Statesman Book of the Year A Financial Times Science Book of the Year 'Astonishingly bold' Daily Mail 'It is hard to imagine a more timely book ... much of the modern world will make more sense having read it.' The Times We live in a world that's more interconnected than ever before. Our lives are shaped by outbreaks - of disease, of misinformation, even of violence - that appear, spread and fade away with bewildering speed. To understand them, we need to learn the hidden laws that govern them. From 'superspreaders' who might spark a pandemic or bring down a financial system to the social dynamics that make loneliness catch on, The Rules of Contagion offers compelling insights into human behaviour and explains how we can get better at predicting what happens next. Along the way, Adam Kucharski explores how innovations spread through friendship networks, what links computer viruses with folk stories - and why the most useful predictions aren't necessarily the ones that come true. Now revised and updated with content on Covid-19.
