Isbn: 9781403964021 - the failure of wall street: how and why wall street fails- and what can be done about it (1 Ergebnisse)

Hardcover. Zustand: Good. 314 pages. Ex-library.Wall Street, the world's primary financial market and middleman, is in many w ays a success. It brings together and places capital, creates new and innovative financial products, and buys and sells physical and financial assets. Its role in global economic growth has been, and remains, unique and vital. In spite of i ts importance and strengths, however, Wall Street repeatedly fails. At all level s, Wall Street makes serious mistakes in its core areas of expertise - falling s hort of its potential when raising capital, giving advice or managing risk, and demonstrating vulnerabilities when carrying out its responsibilities. These fail ures, which damage both finances and reputations, often affect a broad range of insiders and outsiders: employees and managers, personal and corporate clients, investors, creditors and regulators. In some cases they destabilize entire secto rs and economies. Worse, many of these failures are likely to plague Wall Street for years to come, until there is greater willingness to recognize and resolve the underlying problems. The Failure of Wall Street analyzes how and why Wall Street fails, and what can be done to rectify the failures. After a short discus sion of Wall Street's role in raising capital, granting corporate and personal a dvice, managing risk and acting as a trusted financial analyst, Erik Banks explo res the dramatic failures that have occurred in each of these areas, using case studies and examples to illustrate the nature and extent of the problems. Next, the book demonstrates why Wall Street fails in each area of supposed expertise, focusing on shortcomings in governance, management, skills/controls and transpar ency. Lastly, Banks proposes a framework for addressing the shortfalls that cont.…