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Brazen: Big Banks, Swap Mania and the Fallout, , Rashad A. K.


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Автор: , Rashad A. K.
Название:  Brazen: Big Banks, Swap Mania and the Fallout
ISBN: 9789813275560
Издательство: World Scientific Publishing
Классификация:
ISBN-10: 9813275561
Обложка/Формат: Hardback
Страницы: 552
Вес: 0.42 кг.
Дата издания: 16.04.2019
Серия: Economics/Business/Finance
Язык: English
Размер: 236 x 158 x 34
Читательская аудитория: Tertiary education (us: college)
Ключевые слова: Banking & finance: study & revision guides, BUSINESS & ECONOMICS / Interest,BUSINESS & ECONOMICS / Banks & Banking
Рейтинг:
Поставляется из: Англии
Описание: Following the 2008 Financial Crisis, news broke that big banks in the US were collecting hundreds of billions of dollars from non-profit parties. These enormous sums represented annual settlement and termination payments for bilateral contracts known as Interest Rate Swaps (IRSs). Starting in the late 1990s, big banks targeted non-profits for massive sales of all types of such contracts. Non-profits ended up being perennial losers, eventually owing enormous sums of money to the banks for nothing received.The effects of such monetary transfers have been disastrous -- money-strapped non-profits had to dismiss schoolteachers, shut off water supply to thousands of poor households and downsize many other essential public services. For example, over 108 public school districts and 105 government agencies in the state of Pennsylvania suffered massive losses because of dealing in IRSs. Local and state governments, universities, hospitals and transit authorities from New York to San Francisco have been and are among the largest hit. Moreover, about 500 hospitals ranging from charity to large healthcare centers became victims of bank-generated swap contracts. Members of the Service Employee International Union identified the curse of IRS payments to big banks as being Money for Nothing.This book discusses selective cases of the costly undertaking of many, many non-profits whose officials were not informed that an IRS contract has only one winner, and that big banks had no intention of being the losers. The author lends support that, curiously, officials of non-profits relied heavily on the banks self-serving representations with respect to IRS contracts. There is no evidence that any of these officials, and their advisors, fully understood the complexities, terms and nuances of IRS contracts offered by big banks. As a result, the contracting parties did not have equal bargaining power. Therefore, should not IRS contracts with non-profits be considered unconscionable contracts? Moreover, once an IRS is terminated, the presumed services of hedging, managing risk and betting would terminate. Thus, the huge sums of money big banks had collected for termination, based on the duration from the time of termination to maturity, were taken for services that had not been, and will never be, rendered. Could one then consider these termination payments tantamount to unjust enrichment?


Embracing Toby: Recognizing Self-Inflicted Wounds & Retraining Your Brain

Автор: Tau Dr Abdalla Rashad
Название: Embracing Toby: Recognizing Self-Inflicted Wounds & Retraining Your Brain
ISBN: 0989318303 ISBN-13(EAN): 9780989318303
Издательство: Неизвестно
Цена: 5173.00 р.
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The Abduction of Smith and Smith

Автор: Harrison Rashad
Название: The Abduction of Smith and Smith
ISBN: 1451625790 ISBN-13(EAN): 9781451625790
Издательство: Неизвестно
Цена: 2207.00 р.
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Описание: In this "splendid tale of high-seas adventure" (Marcus J. Guillory, author of Red Now and Laters), two enemies become the unlikeliest of allies as they fight to save their own lives aboard a hell ship headed into the dangerous unknown.

The Civil War is over, though for Jupiter Smith, a former slave and Union soldier, many battles still lie ahead. He returns to the plantation he worked on before the war in search of his woman, but instead finds his old master gone mad, haunting the ruins like a ghost. Out of pity for the now mentally ill colonel, Jupiter strangles him and heads west to seek a new life in San Francisco.

When the colonel's son, Confederate soldier Archer Smith, arrives home and finds his father murdered, he vows revenge upon Jupiter for all he has lost--following his former slave to the far reaches of the continent.

But things take a new turn as Archer's desire for retribution is overwhelmed by his dependency on opium, and he ends up the target of a gang of "crimpers"...the very gang that Jupiter works for in San Francisco. When Jupiter fails in an attempt to save Archer, they both end up shanghaied aboard a ship headed on a dangerous mission and ruled by a merciless captain. Will the two Smiths work together to stay alive and return home, or will they become victims of the sea, the crew, and their mad captain?


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