Engineering a financial bloodbath : how sub-prime securitization destroyed the legitimacy of financial capitalism / Justin O'Brien.

Format:

Book

Author/Creator:

O'Brien, Justin (Peter Justin)

Language:

English

Subjects (All):

Financial institutions--State supervision.

Financial institutions.

Capital market--State supervision.

Capital market.

Financial crises.

Subprime mortgage loans.

Physical Description:

1 online resource (212 p.)

Edition:

1st ed.

Place of Publication:

London : Imperial College Press, c2009.

Language Note:

English

Summary:

In July 2007, the then chief executive of Citigroup, Charles Prince, captured the hubris of a market dangerously addicted to debt: "When the music stops, in terms of liquidity, things will be complicated. But as long as music is playing, you have got to get up and dance. We're still dancing." By the end of the year, Mr Prince was forced to resign along with some of the most influential bankers on Wall Street. Global investment houses in the United States and Europe were forced to turn to sovereign wealth funds for emergency funding. Their rescue comes at a significant material and reputational

Contents:

1. A capital battle

2. The price of failure

3. Apportioning blame

4. The moral hazard of intervention

5. The new mercantilism

6. Enhancing integrity through design.

Notes:

Title-vignette.

Includes bibliographical references and index.

ISBN:

9786612759772

9781282759770

1282759779

9781848162174

1848162170

OCLC:

670429500