Financial Origami: How the Wall Street Model Broke (Google eBook)
An in-depth look at the failure of Wall Street's "proven"financial models
Origami is the Japanese art of folding paper into intricate andaesthetically attractive shapes. As such, it is the perfectmetaphor for the Wall Street financial engineering model, whichultimately proved to be the underlying cause of the 2008 financialcrisis.
In Financial Origami, Brendan Moynihan describes how the WallStreet business model evolved from a method to transfer risk into amethod for manufacturing risk. Along the way, this timely bookskillfully dissects financial engineering and addresses how it'soften a mechanism to evade regulatory constraints, provideinstitutional investors with customized products, and, of course,generate revenue for financial engineers.
With the collapse of Lehman Brother the Wall Street businessmodel effectively broke. But there are many lessons to be learnedfrom what has transpired, and Financial Origami will show you whatthey are.
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The Three Derivatives
Fold Sides to Center Again
Rules Refold Rave Ruin
Low Volatility Low Risk
Pull Head to Suitable Angle
Whats Wrong with Wall Street?
GovernmentSanctioned CreditRating Agencies