Visit our Christmas Gift Finder
Anatomy of a Banking Scandal: The Keystone Bank Failure-Harbinger of the 2008 Financial Crisis (Paperback)
  • Anatomy of a Banking Scandal: The Keystone Bank Failure-Harbinger of the 2008 Financial Crisis (Paperback)
zoom

Anatomy of a Banking Scandal: The Keystone Bank Failure-Harbinger of the 2008 Financial Crisis (Paperback)

(author)
£36.99
Paperback 368 Pages / Published: 07/05/2016
  • We can order this

Usually dispatched within 3 weeks

  • This item has been added to your basket

In the early 1990s, the First National Bank of Keystone in West Virginia began buying and securitizing subprime mortgages from all over the country, and quickly grew from a tiny bank with just $100 million in assets to over $1.1 billion. For three years, it was listed as the most profitable large community bank in the country. It was all a fraud. All of the securitization deals the bank entered into lost money. To hide that fact, bank insiders started cooking the books, and concealing that they were also embezzling millions of dollars from the bank.

This was all hidden from the bank's attorneys and auditors, federal bank examiners, and even the board of directors of the bank. To keep the examiners at bay, the bank insiders did everything possible to avoid giving them access to documents they were entitled to see, documents they knew would sink their scheme. The head of the bank even went so far as to bury four large truckloads of documents in a ditch on her ranch.

Robert S. Pasley explores the failure of the First National Bank of Keystone, the intrigue involved, and the lessons that could have been learned-and still can be learned-about how banks operate, how federal banking regulators supervise financial institutions, how agencies interact with one another, and how such failures can be avoided in the future.

Publisher: Taylor & Francis Inc
ISBN: 9781412863346
Number of pages: 368
Weight: 499 g
Dimensions: 229 x 152 x 19 mm

You may also be interested in...

Paper Promises
Added to basket
£10.99
Paperback
Liar's Poker
Added to basket
£9.99
Paperback
Fool's Gold
Added to basket
£10.99
Paperback
Introduction to Banking 2nd edn
Added to basket
The House of Morgan
Added to basket
£16.99
Paperback
Investment Banking For Dummies
Added to basket
A Colossal Failure of Common Sense
Added to basket
Investment Banking
Added to basket
£65.00
Paperback
The House of Rothschild
Added to basket
The House of Rothschild
Added to basket
The Money Machine
Added to basket
£10.99
Paperback
The Last Tycoons
Added to basket
FT Guide to Banking
Added to basket
£29.99
Paperback

Please sign in to write a review

Your review has been submitted successfully.