Financial Boom and Gloom: The Credit and Banking Crisis of 2007-2009 and Beyond (Palgrave Macmillan Studies in Banking and Financial Institutions)
This title features a case study on Northern Rock; a comprehensive coverage of how and why credit risk escaped management control and supervisory watch; a down to earth explanation of CDOs, CDSs, their business opportunities and their risks; clear explanation of the difference between solvency and liquidity; and, practical examples on asset-backed commercial paper, structured investment vehicles, the carry trade and auction-rate securities, all of them very current themes. The credit and banking crisis which hit the western world in 2007/2008 has and will continue to have far-reaching after-effects. At their core are Collateralized Debt Obligations (CDOs) and Credit Default Swaos (CDSs), the main themes of this book.
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