The Lunacy of Modern Finance Theory and Regulation
Autor Les Colemanen Limba Engleză Paperback – 24 iul 2014
The book highlights that finance industry self-regulation is weak. Risks from inexpertise, theft, bad data and other sources are high. Regulation of the industry appears to be ineffectual with the setting of such a high bar that it is virtually impossible to successfully prosecute even the most blatant and egregious offenders.
The book closes with the simple suggestion that corporations’ regulations be altered to introduce the strict liability offence of being a director or officer of a large bank that becomes bankrupt. This follows the strategy of legislation that has been effective in cleaning up the environment, making workplaces safer and reducing crime by punishing those responsible for an offence.
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Specificații
ISBN-13: 9781138779006
ISBN-10: 1138779008
Pagini: 188
Ilustrații: 19 black & white illustrations, 8 black & white tables, 19 black & white line drawings
Dimensiuni: 156 x 234 x 10 mm
Greutate: 0.27 kg
Ediția:New.
Editura: Taylor & Francis
Colecția Routledge
Locul publicării:Oxford, United Kingdom
ISBN-10: 1138779008
Pagini: 188
Ilustrații: 19 black & white illustrations, 8 black & white tables, 19 black & white line drawings
Dimensiuni: 156 x 234 x 10 mm
Greutate: 0.27 kg
Ediția:New.
Editura: Taylor & Francis
Colecția Routledge
Locul publicării:Oxford, United Kingdom
Public țintă
Postgraduate and UndergraduateCuprins
1. Introduction 2. Chronic Failure of Finance Theory to Survive Contact with the Real World 3. Finance Industry's Inability to Manage Walls of Money 4. Risk! What Risk Can There Possibily Be? 5. Crooks, Scams and Biases 6. How Does Finance Really Work? 7. The Mixed Record of Finance Regulation 8. Is There a Better Basis for Corporations' Financial Regulation? 9. Conclusion
Recenzii
"Despite its lurid title, this is a serious book. Drawing on decades as a financial practitioner, Coleman (Univ. of Melbourne, Australia) offers a blunt analysis of modern finance. Although his depiction of theory divorced from practice is familiar, Coleman's portrayal of applied finance and suggestions for reform are notable. His interviews with financial fund officials and comprehensible interpretations of arcane financial instruments provide some feel for the inner workings of the financial sector, which collapsed so spectacularly in 2008. Coleman argues that executives causing the death of a company, like individuals causing the death of a person, should be prosecuted. Bankrupting a company that is "too big to fail" should never leave its CEO "too big to jail." Summing Up: Recommended. Lower-division undergraduates and above." — R. S. Hewett, Drake University, in CHOICE , March 2015
Descriere
This provocative book provides insight into a finance industry that is run for the benefit of banks and service providers who rely on Beatles-era theories and regulation which are totally unsuited to the modern world. The author has a near-unique perspective based on over 30 years of working – literally around the globe – for corporates, fund managers and as a finance academic.