description: security with value derived from a commodity or asset
143 results
by Simon Johnson and James Kwak · 29 Mar 2010 · 430pp · 109,064 words
), including Salomon, grew from $33 billion in assets, or 1.4 percent of GDP, to $3.1 trillion in assets, or 22 percent of GDP. Asset-backed securities such as collateralized debt obligations (CDOs), which hardly existed in 1978, accounted for another $4.5 trillion in assets in 2007, or 32 percent of
by William N. Goetzmann · 11 Apr 2016 · 695pp · 194,693 words
debt together, and the risk of default is sufficiently uncorrelated, then you can structure part of the resulting cash flow into a safer security. An asset-backed security also has the extra benefit of a claim on an underlying real asset. It is not like the holder of a mortgage-backed security must
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, 513–14; investments in Old Babylonian period and, 55; Lowenfeld on benefits of investment for, 417; money fief for soldier and, 243; pension funds holding asset-backed securities for, 385; worldwide pension provisions for, 511, 516. See also life annuities; Social Security return on investment, 6–7; alternative use of capital and, 237
by Grace Blakeley · 9 Sep 2019 · 263pp · 80,594 words
. When banks could no longer rely on borrowing from other financial institutions to finance their liabilities, they started to sell their assets. Fire sales of asset-backed securities sent their prices tumbling even further. The repo markets that had developed before the crash, which allowed banks to borrow from one another using debt
by Louis Hyman · 3 Jan 2011
to solve the problems of America’s cities. Toward that end, federal policy fashioned the financial innovation that made possible America’s debt explosion—the asset-backed security—that expanded well beyond its original purpose. Solving the urban crisis would require solving the housing crisis. But to fix the housing crisis, radical financial
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for consumers to borrow and cheaper for banks to lend. While these two events, the Tax Reform Act of 1986 and the first credit card asset-backed security, had nothing to do with one another, they both pushed all forms of consumer debt, in unexpected ways, toward complete interchangeability. Though the Tax Reform
by Alan Greenspan · 14 Jun 2007
financial instruments has had to rise even faster than the trade itself. Wholly new forms of finance had to be invented or developed—credit derivatives, asset-backed securities, oil futures, and the like all make the world's trading system function far more efficiently. In many respects, the apparent stability of our global
by Louis Hyman · 24 Jan 2012 · 251pp · 76,128 words
loans in 1985, and it was only a short time before anything could become a bond.14 This more general category of securities became called “asset-backed securities,” or ABSs. Securitizing debt allowed financial institutions to move debts off their books and thus not have to hold reserves against them, allowing a far
by Marcia Stigum and Anthony Crescenzi · 9 Feb 2007 · 1,202pp · 424,886 words
, have a lot of auto loan receivables that it wants to finance. It could go to JPMorgan and have Morgan create and sell a registered asset-backed security for them. For some, that can be too expensive an alternative. For companies such as Ford, the securitization of loans can help them to remove
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a formal receivables purchase agreement from the borrower, say Ford. This agreement, which looks somewhat like the pooling and servicing agreement that a publicly offered, asset-backed security would contain, spells out the understanding between the bank and Ford. Under the agreement, Ford continues to collect interest and principal on the auto loans
by Nicholas Dunbar · 11 Jul 2011 · 350pp · 103,270 words
down to his jawline and shaved the ends into knifepoints, which gave him a faintly menacing, rockabilly look. By the mid-2000s he was trading asset-backed securities (ABSs) for Deutsche Bank, doing well enough to afford a big Manhattan loft apartment with a vast kitchen that he rented out to Italian cooking
by Kevin Mellyn · 30 Sep 2009 · 225pp · 11,355 words
benefited other than him. The man the press dubbed the ‘‘Sheriff of Wall Street’’ did nothing to head off the excesses behind the bubble in asset-backed securities that brought down Wall Street in 2008. In fact, by vindictively driving the one man from power who really understood AIG and who essentially managed
by William D. Cohan · 11 Apr 2011 · 1,073pp · 302,361 words
Street firms from engaging “in any transaction that would involve or result in any material conflict of interest with respect to any investor” in an asset-backed security, such as a CDO. A version of the amendment was included in the Dodd-Frank Act President Obama signed on July 21, 2010. The senators
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on—expressly for the two Bear Stearns hedge-fund managers. The security referenced a mix of credit-default swaps on A-rated bonds and synthetic asset-backed securities, “the sweet spot right now” in the market at that time, one trader told Derivatives Week in December 2006. Cioffi and Tannin made the Timberwolf
by David Wessel · 3 Aug 2009 · 350pp · 109,220 words
by Joyce Appleby · 22 Dec 2009 · 540pp · 168,921 words
by Markus K. Brunnermeier, Harold James and Jean-Pierre Landau · 3 Aug 2016 · 586pp · 160,321 words
by Christine S. Richard · 26 Apr 2010 · 459pp · 118,959 words
by Mehrsa Baradaran · 5 Oct 2015 · 424pp · 121,425 words
by Bethany McLean · 19 Oct 2010 · 543pp · 157,991 words
by John Plender · 27 Jul 2015 · 355pp · 92,571 words
by George A. Akerlof, Robert J. Shiller and Stanley B Resor Professor Of Economics Robert J Shiller · 21 Sep 2015 · 274pp · 93,758 words
by Adam Tooze · 31 Jul 2018 · 1,066pp · 273,703 words
by John Kay · 2 Sep 2015 · 478pp · 126,416 words
by Stephen D. King · 17 Jun 2013 · 324pp · 90,253 words
by Richard Brooks · 23 Apr 2018 · 398pp · 105,917 words
by Robert Skidelsky · 13 Nov 2018
by Parag Khanna · 5 Feb 2019 · 496pp · 131,938 words
by Mary Childs · 15 Mar 2022 · 367pp · 110,161 words
by Nick Timiraos · 1 Mar 2022 · 357pp · 107,984 words
by Nouriel Roubini and Stephen Mihm · 10 May 2010 · 491pp · 131,769 words
by Robert P. Baker · 4 Oct 2015
by Varun Sivaram · 2 Mar 2018 · 469pp · 132,438 words
by Burton G. Malkiel · 5 Jan 2015 · 482pp · 121,672 words
by Don Tapscott and Alex Tapscott · 9 May 2016 · 515pp · 126,820 words
by Justin Fox · 29 May 2009 · 461pp · 128,421 words
by Frederick Sheehan · 21 Oct 2009 · 435pp · 127,403 words
by Niall Ferguson · 13 Nov 2007 · 471pp · 124,585 words
by Greg Ip · 12 Oct 2015 · 309pp · 95,495 words
by Bonnie Biafore, Amy E. Buttell and Carol Fabbri · 24 May 2010 · 250pp · 77,544 words
by John Lanchester · 14 Dec 2009 · 322pp · 77,341 words
by Davis Edwards · 10 Jul 2014
by Chris Burniske and Jack Tatar · 19 Oct 2017 · 416pp · 106,532 words
by Lawrence Lessig · 4 Oct 2011 · 538pp · 121,670 words
by Roger Lowenstein · 15 Jan 2010 · 460pp · 122,556 words
by Alexander Davidson · 1 Apr 2008 · 368pp · 32,950 words
by Andrew Sayer · 6 Nov 2014 · 504pp · 143,303 words
by Kindleberger, Charles P. and Robert Z., Aliber · 9 Aug 2011
by Steven Drobny · 18 Mar 2010 · 537pp · 144,318 words
by James Rickards · 15 Nov 2016 · 354pp · 105,322 words
by Daniel Markovits · 14 Sep 2019 · 976pp · 235,576 words
by Tim Lee, Jamie Lee and Kevin Coldiron · 13 Dec 2019 · 241pp · 81,805 words
by Richard Duncan · 2 Apr 2012 · 248pp · 57,419 words
by Noah Berlatsky · 19 Feb 2010
by Nicholas Shaxson · 11 Apr 2011 · 429pp · 120,332 words
by Matthew C. Klein · 18 May 2020 · 339pp · 95,270 words
by Alexis Stenfors · 14 May 2017 · 312pp · 93,836 words
by Tom Slee · 18 Nov 2015 · 265pp · 69,310 words
by Ludwig B. Chincarini · 29 Jul 2012 · 701pp · 199,010 words
by Maneet Ahuja, Myron Scholes and Mohamed El-Erian · 29 May 2012 · 302pp · 86,614 words
by Anthony M. Townsend · 15 Jun 2020 · 362pp · 97,288 words
by Adam Tooze · 15 Nov 2021 · 561pp · 138,158 words
by Scott McCleskey · 10 Mar 2011
by Satyajit Das · 14 Oct 2011 · 741pp · 179,454 words
by Raghuram Rajan · 24 May 2010 · 358pp · 106,729 words
by Kwasi Kwarteng · 12 May 2014 · 632pp · 159,454 words
by David F. Swensen · 8 Aug 2005 · 490pp · 117,629 words
by Richard Ferri · 11 Jul 2010
by Kevin Phillips · 31 Mar 2008 · 422pp · 113,830 words
by Richard A. Brealey, Stewart C. Myers and Franklin Allen · 15 Feb 2014
by Paul Krugman · 30 Apr 2012 · 267pp · 71,123 words
by David Hale and Lyric Hughes Hale · 23 May 2011 · 397pp · 112,034 words
by Joshua Rosenbaum, Joshua Pearl and Joseph R. Perella · 18 May 2009 · 444pp · 86,565 words
by Michael Lewis · 1 Nov 2009 · 265pp · 93,231 words
by Mitch Feierstein · 2 Feb 2012 · 393pp · 115,263 words
by Martin Wolf · 24 Nov 2015 · 524pp · 143,993 words
by John Cassidy · 10 Nov 2009 · 545pp · 137,789 words
by Lawrence G. Mcdonald and Patrick Robinson · 21 Jul 2009 · 430pp · 140,405 words
by Gillian Tett · 11 May 2009 · 311pp · 99,699 words
by Andrew W. Lo · 3 Apr 2017 · 733pp · 179,391 words
by Anat Admati and Martin Hellwig · 15 Feb 2013 · 726pp · 172,988 words
by Antti Ilmanen · 4 Apr 2011 · 1,088pp · 228,743 words
by Satyajit Das · 15 Nov 2006 · 349pp · 134,041 words
by Jack (edited By) Guinan · 27 Jul 2009 · 353pp · 88,376 words
by Benjamin Graham and David Dodd · 1 Jan 1962 · 1,042pp · 266,547 words
by Timothy F. Geithner · 11 May 2014 · 593pp · 189,857 words
by Frank J. Fabozzi, Steven V. Mann and Moorad Choudhry · 14 Jul 2002
by Atif Mian and Amir Sufi · 11 May 2014 · 249pp · 66,383 words
by Philip Mirowski · 24 Jun 2013 · 662pp · 180,546 words
by Ian Goldin and Chris Kutarna · 23 May 2016 · 437pp · 113,173 words
by Leo Panitch and Sam Gindin · 8 Oct 2012 · 823pp · 206,070 words
by Costas Lapavitsas · 14 Aug 2013 · 554pp · 158,687 words
by Kirsten Grind · 11 Jun 2012 · 549pp · 147,112 words
by Lars Kroijer · 5 Sep 2013 · 300pp · 77,787 words
by Richard R. Lindsey and Barry Schachter · 30 Jun 2007
by Faisal Islam · 28 Aug 2013 · 475pp · 155,554 words
by Richard D. Wolff · 1 Oct 2012 · 165pp · 48,594 words
by Philip Coggan · 1 Jul 2009 · 253pp · 79,214 words
by Ashoka Mody · 7 May 2018
by Thomas Levenson · 18 Aug 2020 · 495pp · 136,714 words
by Ray Dalio · 9 Sep 2018 · 782pp · 187,875 words
by Philip Augar · 4 Jul 2018 · 457pp · 143,967 words
by Jack Ewing · 22 May 2017 · 434pp · 114,583 words
by Katharina Pistor · 27 May 2019 · 316pp · 117,228 words
by Christopher Leonard · 11 Jan 2022 · 416pp · 124,469 words
by J. Bradford Delong · 6 Apr 2020 · 593pp · 183,240 words
by Walt Bogdanich and Michael Forsythe · 3 Oct 2022 · 689pp · 134,457 words
by Edward Chancellor · 15 Aug 2022 · 829pp · 187,394 words
by Russell Jones · 15 Jan 2023 · 463pp · 140,499 words
by Alexander Green · 15 Sep 2008 · 244pp · 58,247 words
by Andrew Palmer · 13 Apr 2015 · 280pp · 79,029 words
by Brett King · 26 Dec 2012 · 382pp · 120,064 words
by Burton G. Malkiel · 10 Jan 2011 · 416pp · 118,592 words
by Will Hutton · 30 Sep 2010 · 543pp · 147,357 words
by Chris Hayes · 11 Jun 2012 · 285pp · 86,174 words
by Mervyn King · 3 Mar 2016 · 464pp · 139,088 words
by George A. Akerlof and Robert J. Shiller · 1 Jan 2009 · 471pp · 97,152 words
by Iain Martin · 11 Sep 2013 · 387pp · 119,244 words
by Tony Norfield · 352pp · 98,561 words
by Ha-Joon Chang · 26 May 2014 · 385pp · 111,807 words
by Henry M. Paulson · 15 Sep 2010 · 468pp · 145,998 words
by Stephen D. King · 14 Jun 2010 · 561pp · 87,892 words
by Alain Ruttiens · 24 Apr 2013 · 447pp · 104,258 words
by Alan S. Blinder · 24 Jan 2013 · 566pp · 155,428 words
by Irene Aldridge · 1 Dec 2009 · 354pp · 26,550 words
by Frank Pasquale · 17 Nov 2014 · 320pp · 87,853 words
by Daniel Gross · 7 May 2012 · 391pp · 97,018 words
by William D. Cohan · 15 Nov 2009 · 620pp · 214,639 words
by Charles Goodhart and Manoj Pradhan · 8 Aug 2020 · 438pp · 84,256 words
by David McWilliams · 330pp · 110,174 words
by George A. Selgin · 14 Jun 2017 · 454pp · 134,482 words
by Sebastian Mallaby · 9 Jun 2010 · 584pp · 187,436 words
by Doug Henwood · 30 Aug 1998 · 586pp · 159,901 words
by Jack D. Schwager · 24 Apr 2012 · 272pp · 19,172 words
by Ian Goldin and Mike Mariathasan · 15 Mar 2014 · 414pp · 101,285 words
by Liam Vaughan and Gavin Finch · 22 Nov 2016
by Danielle Dimartino Booth · 14 Feb 2017 · 479pp · 113,510 words
by Josh Ryan-Collins, Toby Lloyd and Laurie Macfarlane · 28 Feb 2017 · 346pp · 90,371 words
by William D. Cohan · 27 Feb 2017 · 113pp · 37,885 words
by Ben S. Bernanke, Timothy F. Geithner and Henry M. Paulson, Jr. · 16 Apr 2019
by Mehrsa Baradaran · 14 Sep 2017 · 520pp · 153,517 words
by Turney Duff · 3 Jun 2013 · 262pp · 93,987 words
by Guy Standing · 13 Jul 2016 · 443pp · 98,113 words
by Richard Robb · 12 Nov 2019 · 202pp · 58,823 words
by Colin Lancaster · 3 May 2021 · 245pp · 75,397 words
by Grace Blakeley · 14 Oct 2020 · 82pp · 24,150 words
by Yuxing Yan · 24 Apr 2014 · 408pp · 85,118 words