The Global Affect of Western Religion on Politics, Policy and Government, Richey Rashad

Автор: , Rashad A. K.
Название: Brazen: Big Banks, Swap Mania and the Fallout
ISBN: 9813275561 ISBN-13(EAN): 9789813275560
Издательство: World Scientific Publishing
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Цена: от 4792.00 р.
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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?

Автор: Parker Rashad
Название: What We Gon` Do?
ISBN: 1478794623 ISBN-13(EAN): 9781478794622
Издательство: Неизвестно
Цена: 4221.00 р.
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Описание: What happens when lies are told? Secrets revealed? Bianca Davenport has done the unthinkable. When she murders her former lover in cold blood, a sense of vindication takes over her soul. She's now free from past, present, and future harm caused by Shine's unpredictable behavior. Yohon's harboring several dark secrets that could threaten their entire family in more ways than one. When jealousy, envy, deceit, and larceny are exposed, will the family be able to bounce back when the truth unfolds? Can the Davenports sustain the trials and tribulations that lie ahead? Take another adventurous ride with Bianca and the gang. You'll thirst for more. Guaranteed.