Financial Boom and Gloom The Credit and Banking Crisis of 20072009 and Beyond [Hardcover]

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.Preface PART I: CREDIT CRUNCH ASHES AND PAINS The Mismanagement?of Credit Risk The Fed Has Got It Wrong The Globalization?of Credit Risk PART II: THE SUBPRIMES CRISIS Earthquake?in the Subprime Mortgage Market The Industralization?of Credit Risk Leveraged Instruments, Their Credit Rating?and Other Unorthodox Practices Northern Rock. A Case Study?on Failure of Prudential Supervision PART III: BANK SUPERVISORS AND THEIR REMIT Responsibilities of Financial Regulation Solvency, Liquidity, Asset-backed Paper and the Carry Trade Is There a Remedy to the Problems of Bank Supervision? Glossary IndexDimitris N. Chorafas served on the faculty of the Catholic University of America and as Visiting Professor at Washington State University, George Washington University, University of Vermont, University of Florida, and Georgia Institute of Technology in the United States, as well as the University of Alberta, Technical University of Karlsruhe, Ecole d'Etudes Industrielles de l'Universit? de Gen?ve, Ecole Polytechnic F?d?rale de Lausanne, Polish Academy of Sciences and Russian Academy of Sciences. More than 8,000 banking, industrial and government executives participated in his seminars in the United States, England, Germany, Italy, other European countries, Asia and Latin America. Chorafas is the author of 160 books, translated into several languages world-wide.