SABOTAGE : Business of Finance
Language: English Publication details: UK Allen Lane 2020/01/01Edition: 1Description: 224ISBN:- 9780241308158
- 332 ANA/SA
Item type | Current library | Collection | Call number | Status | Date due | Barcode | |
---|---|---|---|---|---|---|---|
![]() |
Ernakulam Public Library General Stacks | Non-fiction | 332 ANA/SA (Browse shelf(Opens below)) | Available | E195238 |
Browsing Ernakulam Public Library shelves, Shelving location: General Stacks, Collection: Non-fiction Close shelf browser (Hides shelf browser)
No cover image available | No cover image available | |||||||
331.88073 MKR/US U S LABOR UNIONS TODAY | 331.880954 ROY/TR TRADE UNION MOVEMENT IN INDIA: ROLE OF M.N.ROY | 332.4954ARU/DE DEMONETIZATION AND BLACK ECONOMY | 332 ANA/SA SABOTAGE : Business of Finance | 332 OUR OUR MONEY OUR LIVES : | 332 SAR/MI MICROFINANCE | 332 SUP GROUP CENTRIC MICROFINANCE FOR FINANCIAL INCLUSION : Theories and Empirics |
Two star authors show why the financial sector is an 'industry of sabotage', with systemic malpractice at the heart of its business model.
'I don't like the word "sabotage",' - a former Goldman Sachs trader admitted. 'It's just harsh . . . Though, frankly, how else do you make money in this business . . . I mean, real money . . . '
Financial malpractice, we're told, is an aberration: the actions of a few bad apples deviating from the norms of a market-governed process and gaming the system. In Sabotage, political scientists Anastasia Nesvetailova and Ronen Palan blow this fiction apart, showing that sabotage is not an anomaly, but part of the business model of finance - and always has been. Abusive lending practices, misleading investors, manipulating prices, deliberately falsifying figures, cheating, obstruction and taking advantage of 'the dumbest person in the room' - they're actually the main source of profitability in finance, and the surest way to a bonus. If you want to make money in the industry, you need to find ways of sabotaging either your clients, your competitors or the government (or all three), and above all, the market itself. Talking to industry insiders, economists and high net worth customers, examining the history of finance and its workings today, the authors show us how the idea of sabotage not only makes sense of all past economic crises, but must also be at the heart of all future regulations.
There are no comments on this title.