Financial Black Holes

This cutting-edge volume brings together a range of leading academics and market practitioners to help you define, understand and measure liquidity risk and 'liquidity black holes'.

This volume of Critical Studies on Corporate Responsibility, Governance and Sustainability titled Negative Interest Rates: The Black Hole of Financial Capitalism is the English translation of and already published french book about Financial Capitalism. It explores the themes and the consequences of Negative interest and capitalism.

The "Report of the Commonwealth Observer Group for the Kenya elections, held 4 March 2013." The Group was led by HE Mr Festus Mogae, former Prime Minister of Botswana.The Group found that despite some shortcomings the 2013 General Elections in Kenya were credible. The Report offers a series of recommendations to help improve aspects of the process, including the need to ensure that electoral timelines are established in a manner that facilitates the timely and effective administration of the election, and the need to implement the provision in the Constitution for a gender quota to provide for gender balance in the parliament.

In the past two years, the world has experienced how unsound economic practices can disrupt global economic and social order. Today’s volatile global financial situation highlights the importance of managing risk and the consequences of poor decision making. The Doom Loop in the Financial Sector reveals an underlying paradox of risk management: the better we become at assessing risks, the more we feel comfortable taking them. Using the current financial crisis as a case study, renowned risk expert William Leiss engages with the new concept of “black hole risk” — risk so great that estimating the potential downsides is impossible. His risk-centred analysis of the lead-up to the crisis reveals the practices that brought it about and how it became common practice to use limited risk assessments as a justification to gamble huge sums of money on unsound economic policies. In order to limit future catastrophes, Leiss recommends international cooperation to manage black hole risks. He believes that, failing this, humanity could be susceptible to a dangerous nexus of global disasters that would threaten human civilization as we know it.

Finance Fictions takes the measure of what it means to live in a world ruled by high finance by examining the tension between psychosis and realism that plays out in the contemporary finance novel. When the things traded at the center of the economy cease to be things at all, but highly abstracted speculations, how do we come to see the real? What sorts of narrative can accurately approach the actual workings of a neoliberal economy marked by accelerating cycles of market crashes, economic and political crisis, and austerity? Revisiting such twentieth-century classics of the genre as Tom Wolfe's Bonfire of the Vanities and Bret Easton Ellis’s American Psycho, De Boever argues that the twenty-first century is witnessing the birth of a new kind of realistic novel that can make sense of complex financial instruments like collateralized debt obligations, credit default swaps, and digital algorithms operating at speeds faster than what human beings or computers can record. If in 1989 Wolfe could still urge novelists to work harder to “tame the billion-footed beast of reality,” today’s economic reality confronts us with a difference that is qualitative rather than quantitative: a new financial ontology requiring new modes of thinking and writing. Mobilizing the philosophical thought of Quentin Meillassoux in the close reading of finance novels by Robert Harris, Michel Houellebecq, Ben Lerner and less well-known works of conceptual writing such as Mathew Timmons’ Credit, Finance Fictions argues that realism is in for a speculative update if it wants to take on the contemporary economy—an “if” whose implications turn out to be deeply political. Part literary study and part philosophical inquiry, Finance Fictions seeks to contribute to a new mindset for creative and critical work on finance in the twenty-first century.

Budding astronomers and scientists will love this humorous introduction to the extremely complex concept of black holes. With space facts and answers about the galaxies (ours, and others) A Black Hole is NOT a Hole takes readers on a ride that will stretch their minds around the phenomenon known as a black hole. In lively and text, the book starts off with a thorough explanation of gravity and the role it plays in the formation of black holes. Paintings by Michael Carroll, coupled with real telescopic images, help readers visualize the facts and ideas presented in the text, such as how light bends, and what a supernova looks like. Back matter includes a timeline which sums up important findings discussed throughout, while the glossary and index provide a quick point of reference for readers. Children and adults alike will learn a ton of spacey facts in this far-out book that’s sure to excite even the youngest of astrophiles.