Anatomy Of A Banking Scandal
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Anatomy of a Banking Scandal
Author | : Robert Pasley |
Publsiher | : Routledge |
Total Pages | : 343 |
Release | : 2017-07-05 |
Genre | : Social Science |
ISBN | : 9781351531795 |
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In the early 1990s, the First National Bank of Keystone in West Virginia began buying and securitizing subprime mortgages from all over the country, and quickly grew from a tiny bank with just $100 million in assets to over $1.1 billion. For three years, it was listed as the most profitable large community bank in the country. It was all a fraud. All of the securitization deals the bank entered into lost money. To hide that fact, bank insiders started cooking the books, and concealing that they were also embezzling millions of dollars from the bank. This was all hidden from the bank's attorneys and auditors, federal bank examiners, and even the board of directors of the bank. To keep the examiners at bay, the bank insiders did everything possible to avoid giving them access to documents they were entitled to see, documents they knew would sink their scheme. The head of the bank even went so far as to bury four large truckloads of documents in a ditch on her ranch. Robert S. Pasley explores the failure of the First National Bank of Keystone, the intrigue involved, and the lessons that could have been learnedand still can be learnedabout how banks operate, how federal banking regulators supervise financial institutions, how agencies interact with one another, and how such failures can be avoided in the future.
Anatomy of a Banking Scandal
Author | : Robert Pasley |
Publsiher | : Routledge |
Total Pages | : 444 |
Release | : 2017-07-05 |
Genre | : Social Science |
ISBN | : 9781351531788 |
Download Anatomy of a Banking Scandal Book in PDF, Epub and Kindle
In the early 1990s, the First National Bank of Keystone in West Virginia began buying and securitizing subprime mortgages from all over the country, and quickly grew from a tiny bank with just $100 million in assets to over $1.1 billion. For three years, it was listed as the most profitable large community bank in the country. It was all a fraud. All of the securitization deals the bank entered into lost money. To hide that fact, bank insiders started cooking the books, and concealing that they were also embezzling millions of dollars from the bank. This was all hidden from the bank's attorneys and auditors, federal bank examiners, and even the board of directors of the bank. To keep the examiners at bay, the bank insiders did everything possible to avoid giving them access to documents they were entitled to see, documents they knew would sink their scheme. The head of the bank even went so far as to bury four large truckloads of documents in a ditch on her ranch. Robert S. Pasley explores the failure of the First National Bank of Keystone, the intrigue involved, and the lessons that could have been learned?and still can be learned?about how banks operate, how federal banking regulators supervise financial institutions, how agencies interact with one another, and how such failures can be avoided in the future.
Anatomy of a Banking Scandal
Author | : Robert S. Pasley |
Publsiher | : Unknown |
Total Pages | : 343 |
Release | : 2016 |
Genre | : Bank failures |
ISBN | : 1315082330 |
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"In the early 1990s, the First National Bank of Keystone in West Virginia began buying and securitizing subprime mortgages from all over the country, and quickly grew from a tiny bank with just $100 million in assets to over $1.1 billion. For three years, it was listed as the most profitable large community bank in the country. It was all a fraud. All of the securitization deals the bank entered into lost money. To hide that fact, bank insiders started cooking the books, and concealing that they were also embezzling millions of dollars from the bank. This was all hidden from the bank's attorneys and auditors, federal bank examiners, and even the board of directors of the bank. To keep the examiners at bay, the bank insiders did everything possible to avoid giving them access to documents they were entitled to see, documents they knew would sink their scheme. The head of the bank even went so far as to bury four large truckloads of documents in a ditch on her ranch. Robert S. Pasley explores the failure of the First National Bank of Keystone, the intrigue involved, and the lessons that could have been learned - and still can be learned -about how banks operate, how federal banking regulators supervise financial institutions, how agencies interact with one another, and how such failures can be avoided in the future."--Provided by publisher.
Wall Street and the Financial Crisis Anatomy of a Financial Collapse
Author | : Anonim |
Publsiher | : DIANE Publishing |
Total Pages | : 646 |
Release | : 2011 |
Genre | : Electronic Book |
ISBN | : 9781437984675 |
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Food Security Affordable Housing and Poverty
Author | : Ahmet Suayb Gundogdu |
Publsiher | : Springer Nature |
Total Pages | : 206 |
Release | : 2023-03-15 |
Genre | : Business & Economics |
ISBN | : 9783031276897 |
Download Food Security Affordable Housing and Poverty Book in PDF, Epub and Kindle
This book is the product of an attempt to look differently at the issue of poverty, along with food security and affordable housing. There is a tendency in conventional economics and finance literature to be apologetic when dealing with globally prevailing and unfair economic and financial systems. Islamic economics and finance academia is not immune from this tendency. The book aims to raise awareness about the root causes and suggests novel proposals that will lead to sustainable solutions. It is based on the understanding that if we continue doing more of the same things, we cannot expect to produce different results. This book is also premised on the understanding that the financial sector can promote economic progress only if it channels capital to the most productive use while avoiding moral hazard and adverse selection. The issue of collateral taking promotes a situation where financial institutions prefer to lend only too big-to-fail structures for shelter and food sectors that fuel poverty and inequality. This adverse selection ultimately gives rise to food security and affordable housing issues. This indicates that financial liberalization is not the solution to dealing with poverty and inequality. Instead, strong policy initiatives and financial regulations to direct capital to provide long-term sustainability are needed.
Current Legal Issues Affecting Central Banks Volume III
Author | : Mr.Robert C. Effros |
Publsiher | : International Monetary Fund |
Total Pages | : 686 |
Release | : 1995-08-03 |
Genre | : Business & Economics |
ISBN | : 1557754985 |
Download Current Legal Issues Affecting Central Banks Volume III Book in PDF, Epub and Kindle
Volume III, edited by Robert C. Effros, contains the collected views of banking and legal experts, gathered at the third IMF-sponsored seminar of central banks general counsels. Matters of both international and domestic concern are addressed. The contributors analyze topics covering developments in international financial institutions; the progress of the European Union toward monetary union and a unified banking and securities market; the economic reform of Latin America; the resolution of the debt crisis; and banking regulations and reform in the United States, the United Kingdom, and Canada.
The Chickenshit Club
Author | : Jesse Eisinger |
Publsiher | : Simon and Schuster |
Total Pages | : 400 |
Release | : 2017-07-11 |
Genre | : Political Science |
ISBN | : 9781501121388 |
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Winner of the 2018 Excellence in Financial Journalism Award From Pulitzer Prize–winning journalist Jesse Eisinger, “a fast moving, fly-on-the-wall, disheartening look at the deterioration of the Justice Department and the Securities and Exchange Commission…It is a book of superheroes” (San Francisco Review of Books). Why were no bankers put in prison after the financial crisis of 2008? Why do CEOs seem to commit wrongdoing with impunity? The problem goes beyond banks deemed “Too Big to Fail” to almost every large corporation in America—to pharmaceutical companies and auto manufacturers and beyond. The Chickenshit Club—an inside reference to prosecutors too scared of failure and too daunted by legal impediments to do their jobs—explains why in “an absorbing financial history, a monumental work of journalism…a first-rate study of the federal bureaucracy” (Bloomberg Businessweek). Jesse Eisinger begins the story in the 1970s, when the government pioneered the notion that top corporate executives, not just seedy crooks, could commit heinous crimes and go to prison. He brings us to trading desks on Wall Street, to corporate boardrooms and the offices of prosecutors and FBI agents. These revealing looks provide context for the evolution of the Justice Department’s approach to pursuing corporate criminals through the early 2000s and into the Justice Department of today, including the prosecutorial fiascos, corporate lobbying, trial losses, and culture shifts that have stripped the government of the will and ability to prosecute top corporate executives. “Brave and elegant…a fearless reporter…Eisinger’s important and profound book takes no prisoners” (The Washington Post). Exposing one of the most important scandals of our time, The Chickenshit Club provides a clear, detailed explanation as to how our Justice Department has come to avoid, bungle, and mismanage the fight to bring these alleged criminals to justice. “This book is a wakeup call…a chilling read, and a needed one” (NPR.org).
Urban Management Managing Cities In Uncertain Times
Author | : Willie Chee Keong Tan |
Publsiher | : World Scientific |
Total Pages | : 292 |
Release | : 2022-12-27 |
Genre | : Architecture |
ISBN | : 9789811266966 |
Download Urban Management Managing Cities In Uncertain Times Book in PDF, Epub and Kindle
This book is about the management of cities amid the major challenges to fast growing cities as well as the struggling ones. It discusses trends in urbanization, urban challenges, the urban management approach, theories of the state and urban management, building capacity, urban planning, local economic development, housing, urban service delivery, public utilities, social services, general urban services, and transport. The book emphasizes general principles rather than specific case studies on managing cities.The book is of interest to practitioners and students in the built environment, including mayors, urban managers, urban planners, developers, lenders, insurers, architects, engineers, project managers, and other consultants, contractors, and suppliers.