The Lunacy of Modern Finance Theory and Regulation (Paperback)
  • The Lunacy of Modern Finance Theory and Regulation (Paperback)
zoom

The Lunacy of Modern Finance Theory and Regulation (Paperback)

(author)
£36.99
Paperback 172 Pages / Published: 24/07/2014
  • We can order this

Usually despatched within 3 weeks

  • This item has been added to your basket

This provocative book provides insight into a finance industry that is run for the benefit of banks and service providers who rely on Beatles-era theories and regulation which are totally unsuited to the modern world. The author has a near-unique perspective based on over 30 years of working - literally around the globe - for corporates, fund managers and as finance academic. In his last role his research has focused on investment decisions, and during 2012 he interviewed 34 fund managers in Istanbul, London, New York and Melbourne. He blends rich understanding of finance theory and practice to unravel the investment industry's structure and show how banks and other finance institutions privilege themselves at investors' expense.

The book highlights that finance industry self-regulation is weak. Risks from inexpertise, theft, bad data and other sources are high. Regulation of the industry appears to be ineffectual with the setting of such a high bar that it is virtually impossible to successfully prosecute even the most blatant and egregious offenders.

The book closes with the simple suggestion that corporations' regulations be altered to introduce the strict liability offence of being a director or officer of a large bank that becomes bankrupt. This follows the strategy of legislation that has been effective in cleaning up the environment, making workplaces safer and reducing crime by punishing those responsible for an offence.

Publisher: Taylor & Francis Ltd
ISBN: 9781138779006
Number of pages: 172
Weight: 272 g
Dimensions: 235 x 159 x 10 mm


MEDIA REVIEWS

"Despite its lurid title, this is a serious book. Drawing on decades as a financial practitioner, Coleman (Univ. of Melbourne, Australia) offers a blunt analysis of modern finance. Although his depiction of theory divorced from practice is familiar, Coleman's portrayal of applied finance and suggestions for reform are notable. His interviews with financial fund officials and comprehensible interpretations of arcane financial instruments provide some feel for the inner workings of the financial sector, which collapsed so spectacularly in 2008. Coleman argues that executives causing the death of a company, like individuals causing the death of a person, should be prosecuted. Bankrupting a company that is "too big to fail" should never leave its CEO "too big to jail." Summing Up: Recommended. Lower-division undergraduates and above." - R. S. Hewett, Drake University, in CHOICE , March 2015

You may also be interested in...

Young Money
Added to basket
£8.99
Paperback
Wall Street and the Rise of Hitler
Added to basket
Money and Power
Added to basket
£12.99
Paperback
King Of Capital
Added to basket
£12.99
Paperback
The Pursuit Of Happyness
Added to basket
On the Brink
Added to basket
£24.99
Hardback
Vultures' Picnic
Added to basket
£10.99
Paperback
The House of Dimon
Added to basket
Liquidated
Added to basket
£20.99
Paperback

Reviews

Please sign in to write a review

Your review has been submitted successfully.