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The Jpmorgan Chase Whale Trades
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Book Synopsis The JPMorgan Chase Whale Trades by : Mikkel Skovgaard
Download or read book The JPMorgan Chase Whale Trades written by Mikkel Skovgaard and published by Nova Science Publishers. This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: JPMorgan Chase & Company is the largest financial holding company in the United States, with $2.4 trillion in assets. It is also the largest derivatives dealer in the world and the largest single participant in world credit derivatives markets. JPMorgan Chase has consistently portrayed itself as an expert in risk management with a "fortress balance sheet" that ensures taxpayers have nothing to fear from its banking activities, including its extensive dealing in derivatives. But in early 2012, the bank's Chief Investment Office (CIO), which is charged with managing $350 billion in excess deposits, placed a massive bet on a complex set of synthetic credit derivatives that, in 2012, lost at least $6.2 billion. The CIO's losses were the result of the so-called "London Whale" trades executed by traders in its London office; trades so large in size that they roiled world credit markets. This book provides an overview and background of the investigation of derivatives risks and abuses relating to the JPMorgan Chase Whale traders with accompanying testimony given before the Permanent Subcommittee on Investigations.
Author :United States. Congress. Senate. Committee on Homeland Security and Governmental Affairs. Permanent Subcommittee on Investigations Publisher : ISBN 13 : Total Pages :1260 pages Book Rating :4.:/5 (319 download)
Book Synopsis JPMorgan Chase Whale Trades by : United States. Congress. Senate. Committee on Homeland Security and Governmental Affairs. Permanent Subcommittee on Investigations
Download or read book JPMorgan Chase Whale Trades written by United States. Congress. Senate. Committee on Homeland Security and Governmental Affairs. Permanent Subcommittee on Investigations and published by . This book was released on 2013 with total page 1260 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Last Man Standing by : Duff McDonald
Download or read book Last Man Standing written by Duff McDonald and published by Simon and Schuster. This book was released on 2009-10-06 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the midst of the most disastrous economic climate of Wall Street’s history, one executive has weathered the storm more deftly than any other: Jamie Dimon, chairman and CEO of JPMorgan Chase. In 2008, while Dimon’s competitors watched their companies crumble, JPMorgan not only survived, it made an astonishing $5 billion profit. Dimon’s continued triumph in the face of an industry-wide meltdown has made him a paragon of finance. In Last Man Standing, award-winning journalist Duff McDonald provides an unprecedented and deeply personal look at the extraordinary figure behind JPMorgan’s success. Using countless hours of interviews with Dimon and his full circle of friends, family, and colleagues, this definitive biography is by far the most comprehensive portrait of the man known as the Savior of Wall Street. Now, in an updated prologue, McDonald offers insight into the future of Wall Street and how Dimon will overcome the challenge of aggressive new regulation from Washington—and how he plans to continue to thrive as the world’s preeminent banker.
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 322 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
Book Synopsis The Price of Silence by : William D. Cohan
Download or read book The Price of Silence written by William D. Cohan and published by Simon and Schuster. This book was released on 2014-04-08 with total page 672 pages. Available in PDF, EPUB and Kindle. Book excerpt: An authoritative account of the Duke lacrosse team rape case illuminates the ever-widening gap between America's rich and poor, and demonstrates how far the powerful will go to protect themselves.
Book Synopsis Financial Exposure by : Elise J. Bean
Download or read book Financial Exposure written by Elise J. Bean and published by Springer. This book was released on 2018-08-07 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: At a time when Congressional investigations have taken on added importance and urgency in American politics, this book offers readers a rare, insider’s portrait of the world of US Congressional oversight. It examines specific oversight investigations into multiple financial and offshore tax scandals over fifteen years, from 1999 to 2014, when Senator Levin served in a leadership role on the US Senate Permanent Subcommittee on Investigations (PSI), the Senate’s premier investigative body. Despite mounting levels of partisanship, dysfunction, and cynicism swirling through Congress during those years, this book describes how Congressional oversight investigations can be a powerful tool for uncovering facts, building bipartisan consensus, and fostering change, offering detailed case histories as proof. Grounded in fact, and written as only an insider could tell it, this book will be of interest to financial and tax practitioners, policymakers, academics, students, and the general public.
Book Synopsis Off-Balance Sheet Activities by : Joshua Ronen
Download or read book Off-Balance Sheet Activities written by Joshua Ronen and published by Bloomsbury Publishing USA. This book was released on 1990-11-30 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of Off-Balance Sheet Activities is to gain insights into, and propose meaningful solutions to, those issues raised by the current proliferation of off-balance sheet transactions. The book has its origins in a New York University conference that focused on this topic. Jointly undertaken by the Vincent C. Ross Institute of Accounting Research and New York University's Salomon Center for the study of Financial Institutions at the Stern School of Business, the conference brought together academic researchers and practitioners in the field of accounting and finance to address the issues with the broad-mindedness requisite of a group whose approaches to solutions are as different from each other as their respectively theoretical and applied approaches to the disciplines of finance and accounting. The essays are divided into two sections. The first covers issues surrounding OBS activities and banking and begins with a brief introduction that places the essays into context. OBS activities and the underinvestment problem, whether loan sales are really OBS, and money demand and OBS liquidity are examined in detail. Section two, which also begins with a brief introduction, focuses on issues of securitized assets and financing. A report on recognition and measurement issues in accounting for securitized assets is followed by three separate discussion essays. Other subjects covered include contract theoretic analysis of OBS financing, the use of OBS financing to circumvent financial covenant restrictions, and debt contracting and financial contracting. The latter two contributions are also followed by discussion essays. This unique collection of papers will prove to be an interesting and valuable tool for accounting and finance professionals as well as for academics involved in these fields. It will also be an important addition to public, college, and university libraries.
Book Synopsis JP Morgan Chase and the London Whale by : Jayanth R. Varma
Download or read book JP Morgan Chase and the London Whale written by Jayanth R. Varma and published by . This book was released on 2013 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book JPMadoff written by Helen Davis Chaitman and published by Createspace Independent Publishing Platform. This book was released on 2016-03 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Bernie Madoff committed the biggest financial crime in history, stealing $64.8 billion from tens of thousands of innocent people. But to carry out criminal activity on this scale, he needed a major bank to service his needs and conceal his criminal activities. The corrupt bankers at JPMorgan Chase decided to enrich themselves at the expense of innocent customers. They looked the other way for years, while having free use of Madoff's multi-billion dollar deposit balances"--Back cover.
Book Synopsis International Banking for a New Century by : Irene Finel-Honigman
Download or read book International Banking for a New Century written by Irene Finel-Honigman and published by Routledge. This book was released on 2015-06-12 with total page 269 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new textbook provides an up-to-date overview of international banking as the second decade of the twenty-first century unfolds. Integrating geo-economic, operational, institutional and regulatory changes in the financial sector, the volume’s methodology incorporates specific case studies and research, combining theory with practical examples to illustrate the impact and consequences of past and present financial crises. The volume considers the core aspects of international banking, including its structural and technical features, historical context, institutional evolution in core markets, and wholesale, retail, investment and private banking. It uses specific examples from past and present literature, post-2008 case studies and histories, and research materials, offering a fully updated overview of how international banks respond to global crises, the origin, efficacy and evolution of financial markets, and the regulatory framework within which they function. One chapter is devoted to the evolution and potential of new markets, including the financial sectors of the BRICS and other emerging economies. Each chapter examines background, causes, impact and resolution, focusing on specific cases and their broader implications for the sector. This textbook is a guide to the new, and at times unchartered, landscape to be navigated by large domestic, cross-regional and global banks, and will be invaluable reading for students of finance, business and economics, as well as for those in the financial sector.
Download or read book Risk Takers written by John Marthinsen and published by Walter de Gruyter GmbH & Co KG. This book was released on 2018-05-07 with total page 409 pages. Available in PDF, EPUB and Kindle. Book excerpt: Risk Takers: Uses and Abuses of Financial Derivatives goes to the heart of the arcane and largely misunderstood world of derivative finance and makes it accessible to everyone—even novice readers. Marthinsen takes us behind the scenes, into the back alleyways of corporate finance and derivative trading, to provide a bird’s-eye view of the most shocking financial disasters of the past quarter century. The book draws on real-life stories to explain how financial derivatives can be used to create or to destroy value. In an approachable, non-technical manner, Marthinsen brings these financial derivatives situations to life, fully exploring the context of each event, evaluating their outcomes, and bridging the gap between theory and practice.
Book Synopsis The Best Business Writing 2013 by : Dean Starkman
Download or read book The Best Business Writing 2013 written by Dean Starkman and published by Columbia University Press. This book was released on 2013-06-18 with total page 563 pages. Available in PDF, EPUB and Kindle. Book excerpt: An anthology Malcolm Gladwell has called "riveting and indispensable," The Best Business Writing is a far-ranging survey of business's dynamic relationship with politics, culture, and life. This year's selections include John Markoff (New York Times) on innovations in robot technology and the decline of the factory worker; Evgeny Morozov (New Republic) on the questionable value of the popular TED conference series and the idea industry behind it; Paul Kiel (ProPublica) on the ripple effects of the ongoing foreclosure crisis; and the infamous op-ed by Greg Smith, published in the New York Times, announcing his break with Goldman Sachs over its trading practices and corrupt corporate ethos. Jessica Pressler (New York) delves into the personal and professional rivalry between Tory and Christopher Burch, former spouses now competing to dominate the fashion world. Peter Whoriskey (Washington Post) exposes the human cost of promoting pharmaceuticals off-label. Charles Duhigg and David Barboza (New York Times) investigate Apple's unethical labor practices in China. Max Abelson (Bloomberg) reports on Wall Street's amusing reaction to the diminishing annual bonus. Mina Kimes (Fortune) recounts the grisly story of a company's illegal testing—and misuse—of a medical device for profit, and Jeff Tietz (Rolling Stone) composes one of the most poignant and comprehensive portraits of the financial crisis's dissolution of the American middle class.
Book Synopsis Everything Is Illuminated by : Jonathan Safran Foer
Download or read book Everything Is Illuminated written by Jonathan Safran Foer and published by HarperCollins. This book was released on 2013-09-03 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: NEW YORK TIMES BESTSELLER. Jonathan Safran Foer's debut—"a funny, moving...deeply felt novel about the dangers of confronting the past and the redemption that comes with laughing at it, even when that seems all but impossible." (Time) With only a yellowing photograph in hand, a young man—also named Jonathan Safran Foer—sets out to find the woman who might or might not have saved his grandfather from the Nazis. Accompanied by an old man haunted by memories of the war, an amorous dog named Sammy Davis, Junior, Junior, and the unforgettable Alex, a young Ukrainian translator who speaks in a sublimely butchered English, Jonathan is led on a quixotic journey over a devastated landscape and into an unexpected past. As their adventure unfolds, Jonathan imagines the history of his grandfather’s village, conjuring a magical fable of startling symmetries that unite generations across time. As his search moves back in time, the fantastical history moves forward, until reality collides with fiction in a heart-stopping scene of extraordinary power. “Imagine a novel as verbally cunning as A Clockwork Orange, as harrowing as The Painted Bird, as exuberant and twee as Candide, and you have Everything Is Illuminated . . . Read it, and you'll feel altered, chastened—seared in the fire of something new.” — Washington Post “A rambunctious tour de force of inventive and intelligent storytelling . . . Foer can place his reader’s hand on the heart of human experience, the transcendent beauty of human connections. Read, you can feel the life beating.” — Philadelphia Inquirer
Book Synopsis High Performance with High Integrity by : Benjamin W. Heineman
Download or read book High Performance with High Integrity written by Benjamin W. Heineman and published by Harvard Business Press. This book was released on 2008 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This Memo to the CEO explains why the fusion of high performance with high integrity is the foundation of the contemporary corporation, and why it is necessary - not only to avoid the catastrophic impact of integrity lapses, but to sustain companies in today's ruthlessly competitive environment." "This Memo reframes crucial debates on corporate governance, pay for CEO performance, and the real sources of business ethics. It provides senior executives with a much-needed blueprint for fusing the twin goals of capitalism - high performance with high integrity - in the high-speed, high-pressure twenty-first-century global economy."--Jacket.
Book Synopsis Managing Operational Risk by : Douglas Robertson
Download or read book Managing Operational Risk written by Douglas Robertson and published by Springer. This book was released on 2016-02-23 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: Operational risk is the risk of loss from inadequate or failed internal processes, people, and systems or from external events. This book explores the different types of operational risk that threaten financial institutions, and focuses on practical due-diligence methodologies that can be used to identify these risks before it is too late.
Download or read book Mannahatta written by Eric W. Sanderson and published by Abrams. This book was released on 2013-11-27 with total page 663 pages. Available in PDF, EPUB and Kindle. Book excerpt: What did New York look like four centuries ago? An extraordinary reconstruction of a wild island from the forests of Times Square to the wetlands downtown. Named a Best Book of the Year by Library Journal, New York Magazine, and San Francisco Chronicle On September 12, 1609, Henry Hudson first set foot on the land that would become Manhattan. Today, it’s difficult to imagine what he saw, but for more than a decade, landscape ecologist Eric Sanderson has been working to do just that. Mannahatta: A Natural History of New York City is the astounding result of those efforts, reconstructing in words and images the wild island that millions now call home. By geographically matching an eighteenth-century map with one of the modern city, examining volumes of historic documents, and collecting and analyzing scientific data, Sanderson re-creates topography, flora, and fauna from a time when actual wolves prowled far beyond Wall Street and the degree of biological diversity rivaled that of our most famous national parks. His lively text guides you through this abundant landscape—while breathtaking illustrations transport you back in time. Mannahatta is a groundbreaking work that provides not only a window into the past, but also inspiration for the future. “[A] wise and beautiful book, sure to enthrall anyone interested in NYC history.” —Publishers Weekly (starred review) “A cartographical detective tale . . . The fact-intense charts, maps and tables offered in abundance here are fascinating.” —The New York Times “[An] exuberantly written and beautifully illustrated exploration of pre-European Gotham.” —San Francisco Chronicle “You don’t have to be a New Yorker to be enthralled.” —Library Journal
Book Synopsis Other People's Houses by : Jennifer Taub
Download or read book Other People's Houses written by Jennifer Taub and published by Yale University Press. This book was released on 2014-05-27 with total page 538 pages. Available in PDF, EPUB and Kindle. Book excerpt: The clearest explanation yet of how the financial crisis of 2008 developed and why it could happen again In the wake of the financial meltdown in 2008, many claimed that it had been inevitable, that no one saw it coming, and that subprime borrowers were to blame. This accessible, thoroughly researched book is Jennifer Taub’s response to such unfounded claims. Drawing on wide-ranging experience as a corporate lawyer, investment firm counsel, and scholar of business law and financial market regulation, Taub chronicles how government officials helped bankers inflate the toxic-mortgage-backed housing bubble, then after the bubble burst ignored the plight of millions of homeowners suddenly facing foreclosure. Focusing new light on the similarities between the savings and loan debacle of the 1980s and the financial crisis in 2008, Taub reveals that in both cases the same reckless banks, operating under different names, received government bailouts, while the same lax regulators overlooked fraud and abuse. Furthermore, in 2013 the situation is essentially unchanged. The author asserts that the 2008 crisis was not just similar to the S&L scandal, it was a severe relapse of the same underlying disease. And despite modest regulatory reforms, the disease remains uncured: top banks remain too big to manage, too big to regulate, and too big to fail.
