Book Library

Author: John Kay
Publisher:
ISBN: 9781610397155
Size: 43.11 MB
Format: PDF, ePub, Docs
Category : Business & Economics
Languages : en
Pages : 352
View: 677

Book Description: The finance sector of Western economies is too large and attracts too many of the smartest college graduates. Financialization over the past three decades has created a structure that lacks resilience and supports absurd volumes of trading. The finance sector devotes too little attention to the search for new investment opportunities and the stewardship of existing ones, and far too much to secondary-market dealing in existing assets. Regulation has contributed more to the problems than thesolutions. Why? What is finance for? John Kay, with wide practical and academic experience in the world of finance, understands the operation of the financial sector better than most. He believes in good banks and effective asset managers, but good banks and effective asset managers are not what he sees. In a dazzling and revelatory tour of the financial world as it has emerged from the wreckage of the 2008 crisis, Kay does not flinch in his criticism: we do need some of the things that Citigroup and Goldman Sachs do, but we do not need Citigroup and Goldman to do them. And many of the things done by Citigroup and Goldman do not need to be done at all. The finance sector needs to be reminded of its primary purpose: to manage other people’s money for the benefit of businesses and households. It is an aberration when the some of the finest mathematical and scientific minds are tasked with devising algorithms for the sole purpose of exploiting the weakness of other algorithms for computerized trading in securities. To travel further down that road leads to ruin.

Author: John Kay
Publisher: Profile Books
ISBN: 1782831541
Size: 48.92 MB
Format: PDF, Kindle
Category : Business & Economics
Languages : en
Pages : 353
View: 1854

Book Description: Shortlisted for the Orwell Prize 2016 We all depend on the finance sector. We need it to store our money, manage our payments, finance housing stock, restore infrastructure, fund retirement and support new business. But these roles comprise only a tiny sliver of the sector's activity: the vast majority of lending is within the finance sector. So what is it all for? What is the purpose of this activity? And why is it so profitable? John Kay, a distinguished economist with wide experience of the financial sector, argues that the industry's perceived profitability is partly illusory, and partly an appropriation of wealth created elsewhere - of other people's money. The financial sector, he shows, has grown too large, detached itself from ordinary business and everyday life, and has become an industry that mostly trades with itself, talks to itself, and judges itself by reference to standards which it has itself generated. And the outside world has itself adopted those standards, bailing out financial institutions that have failed all of us through greed and mismanagement. We need finance, but today we have far too much of a good thing. In Other People's Money John Kay shows in his inimitable style what has gone wrong in the dark heart of finance.

Author: Donald Ray Cressey
Publisher:
ISBN:
Size: 62.10 MB
Format: PDF, ePub
Category : Embezzlement
Languages : en
Pages : 191
View: 6219

Book Description:

Author: Charles V. Bagli
Publisher: Penguin
ISBN: 1101609621
Size: 73.72 MB
Format: PDF
Category : Business & Economics
Languages : en
Pages : 432
View: 3296

Book Description: In just over three years, real estate giant Tishman Speyer and its partner, BlackRock, lost billions of investors’ dollars on a single deal. The New York Times reporter who first broke the story of the sale of Stuyvesant Town-Peter Cooper Village takes readers inside the most spectacular failure in real estate history, using this single deal as a lens to see how and why the real estate crisis happened. How did the smartest people in real estate lose billions in one single deal? How did the Church of England, the California public employees’ pension fund, and the Singapore government lose more than one billion dollars combined investing in a middle-class housing complex in New York City? How did MetLife make three billion dollars on the deal without any repercussions from a historically racist policy of housing segregation? And how did nine residents of a sleepy enclave in New York City win one of the most unlikely lawsuits in the history of real estate law? Not only does Other People’s Money answer those questions, it also explains the current recession in stark, clear detail while providing riveting first-person accounts of the titanic failure of the real estate industry to see that a recession was coming. It’s the definitive book on real estate during the bubble years—and what happened when that enormous bubble exploded.

Author: John Kay
Publisher:
ISBN: 9781781254431
Size: 30.91 MB
Format: PDF, ePub
Category :
Languages : en
Pages : 368
View: 457

Book Description: A scathing and well-informed critique of the financial industry by leading economist John Kay.

Author: Michael A. Lechter
Publisher: Business Plus
ISBN: 9780446691857
Size: 69.18 MB
Format: PDF, ePub
Category : Business & Economics
Languages : en
Pages : 326
View: 3034

Book Description: A guide explaining how to make money by acquiring assets, building a business, or developing an idea using funds from second-party investors, discussing the different types and forms of such funds and legal concerns.

Author: Nomi Prins
Publisher: The New Press
ISBN: 1595586628
Size: 79.55 MB
Format: PDF, Mobi
Category : Business & Economics
Languages : en
Pages : 342
View: 109

Book Description: Critical, independent voices are seldom found within the citadels of international finance. That’s what makes Nomi Prins unique. During fifteen years as an executive at skyscraping banks like Goldman Sachs, Bear Stearns, and Lehman Brothers, Prins never lost her ability to see the broader picture. She walked away from the game in 2002 out of disgust with the burgeoning corporate corruption, just as its magnitude was becoming clear to the public. In this acclaimed exposé, named one of the best books of 2004 by The Economist, Barron’s, Library Journal, and The Progressive, Prins provides fascinating firsthand details of day-to-day life in the financial leviathans, with all its rich absurdities. She demonstrates how the much-publicized fraud of recent years resulted from deregulation that trashed the rules of responsible corporate behavior, and not simply the unbridled greed of a select few. While the stock market roared on the back of phony balance sheets, executives made out like bandits and Congress looked the other way. Worse yet, as the new foreword to the paperback edition makes clear, everything remains in place for a repeat performance.

Author: Louis Dembitz Brandeis
Publisher: Good Press
ISBN:
Size: 41.77 MB
Format: PDF, Docs
Category : Fiction
Languages : en
Pages : 265
View: 7096

Book Description: "Other People's Money, and How the Bankers Use It" by Louis Dembitz Brandeis. Published by Good Press. Good Press publishes a wide range of titles that encompasses every genre. From well-known classics & literary fiction and non-fiction to forgotten−or yet undiscovered gems−of world literature, we issue the books that need to be read. Each Good Press edition has been meticulously edited and formatted to boost readability for all e-readers and devices. Our goal is to produce eBooks that are user-friendly and accessible to everyone in a high-quality digital format.

Author: Sharon Ann Murphy
Publisher: Johns Hopkins University Press
ISBN: 1421421755
Size: 58.24 MB
Format: PDF, Docs
Category : History
Languages : en
Pages : 208
View: 2678

Book Description: By helping readers understand the financial history of this period and the way banking shaped the society in which ordinary Americans lived and worked, this book broadens and deepens our knowledge of the Early American Republic.

Author: Justin Cartwright
Publisher:
ISBN: 9783833308628
Size: 56.84 MB
Format: PDF, ePub
Category :
Languages : de
Pages : 349
View: 3507

Book Description:

Author: Peter Foster
Publisher:
ISBN:
Size: 41.19 MB
Format: PDF, ePub
Category : Petroleum industry and trade
Languages : en
Pages : 286
View: 4648

Book Description:

Author: Jerry Sterner
Publisher: Applause Theatre & Cinema
ISBN:
Size: 54.98 MB
Format: PDF, ePub
Category : Drama
Languages : en
Pages : 88
View: 6344

Book Description: OTHER PEOPLE'S MONEY