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On September 12th 2008, Lehman Brothers was valued at 639 billion US dollars. On Monday 15th September, it was worth nothing. How could trillions of dollars seemingly melt into air? Lehman Brothers had a long and prestigious history, and certainly until the end of 2007 had appeared to be conducting a very successful business. Its collapse was the largest bankruptcy in American history and is widely regarded as a crucial event in triggering the turmoil in the markets that triggered the global financial crisis. In this book, Oonagh McDonald, the author of Fannie Mae and Freddie Mac, unravels the events of that fateful September weekend. Using extensive documentary evidence and interviews with former Lehman employees, she reveals the decisions that led to Lehman's collapse, looks at why the government refused a bail-out and whether the implications of this refusal were fully understood. In clear and accessible language she demonstrates both the short and long term effects of Lehman's collapse. This is a fascinating story, with very wide implications. In particular, it raises vital questions about virtual capital and artificial value. McDonald uses her study of the Lehman collapse to examine what is meant by economic value and how it should be identified and measured.

Global Financial Crisis, 2008-2009. --- Bank failures --- Investment banking --- Financial crises --- History --- History. --- Lehman Brothers (1993-2008) --- Lehman Brothers --- debt --- economy --- lehman brothers --- bankruptcy --- global financial crisis --- banking --- crash --- capital

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This book examines the role of Fannie Mae, Freddie Mac and other key players in the American mortgage market, in precipitating the current global financial crisis. From President Clinton''s announcement of the ''National Home Ownership Strategy'' in 1995 to its collapse in 2008, this book deftly explains the aims and consequences of extending mortgage lending to people who could not afford home ownership. Bankers, investment banks, rating agencies and derivatives have all been awarded their share of the blame, while politicians, regulators and government agencies have successfully avoided th

Federal Home Loan Mortgage Corporation. --- Federal National Mortgage Association. --- Financial crises -- United States. --- Finanzkrise. --- Geschichte 1990-2011. --- Housing -- United States -- Finance. --- Housing policy -- United States. --- Hypothekenbank. --- Mortgage banks -- United States. --- Subprime mortgage loans -- United States. --- USA. --- Subprime mortgage loans --- Mortgage banks --- Housing policy --- Housing --- Financial crises --- Finance --- Business & Economics --- Banking --- Secondary mortgage market --- Mortgage loans --- Government policy --- Freddie Mac (Firm) --- Finance. --- Federal Home Loan Mortgage Corporation --- FNMA --- United States. --- F.N.M.A. --- FannieMae --- Fannie Mae

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This book provides a compelling account of the rigging of benchmarks during and after the financial crisis of 2007-08. Written in clear language accessible to the non-specialist, it provides the historical context necessary for understanding the benchmarks -- LIBOR, FOREX and the Gold and Silver Fixes -- and shows how and why they have to be reformed in the face of rapid technological changes in markets. Though banks have been fined and a few traders have been jailed, justice will not be done until senior bankers are made responsible for their actions. Provocative and rigorously argued, this book makes concrete recommendations for improving the security of the financial services industry and holding bankers to account.

Banks and banking --- Banking law --- Global Financial Crisis, 2008-2009 --- LIBOR market model --- BGM model --- Brace Gatarek Musiela model --- Interest rates --- Global Economic Crisis, 2008-2009 --- Subprime Mortgage Crisis, 2008-2009 --- Financial crises --- Law, Banking --- Financial institutions --- Agricultural banks --- Banking --- Banking industry --- Commercial banks --- Depository institutions --- Finance --- Money --- Corrupt practices --- History --- Corrupt practices&delete& --- Prevention --- Mathematical models --- Law and legislation --- Global Financial Crisis (2008-2009) --- E-books --- LIBOR market model. --- Global Financial Crisis, 2008-2009. --- Banking law. --- Prevention. --- FOREX. --- LIBOR. --- accountability. --- bankers. --- foreign exchange market. --- gold. --- manipulation. --- regulators. --- scandal. --- silver. --- traders.

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Oonagh McDonald examines the challenges, opportunities and threats that cryptocurrencies pose to cash and to existing fiat currencies and their potential to change how global finance operates.

Cryptocurrencies. --- Finance --- Business & Economics

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The advent of new digital currencies has challenged our notions about money, its function and purpose, and our faith in the financial and banking structures that underpin its legitimacy. Oonagh McDonald charts the spectacular rise of cryptocurrencies over the past decade and considers the opportunities and threats that cryptocurrencies pose to existing fiat currencies. This revised edition includes a new chapter dealing with the high-profile bankruptcies of the recent 'crypto winter'.The book considers how regulatory bodies have been slow to respond to a technology that is evading existing regulatory frameworks. Urgent and more robust protection is needed from fraudulent initial coin offerings, scams and hacks. Throughout her analysis, McDonald shows that trust is fundamental to the operation of finance and that this will ultimately protect commercial bank money from the threat of new digital currencies. The book offers readers an insightful appraisal of the future of money and the challenges facing regulatory bodies.

E-books --- Cryptocurrencies.