An in-depth look at the failure of Wall Street's "proven" financial models Origami is the Japanese art of folding paper into intricate and aesthetically attractive shapes. As such, it is the perfect metaphor for the Wall Street financial engineering model, which ultimately proved to be the underlying cause of the 2008 financial crisis. In Financial Origami, Brendan Moynihan describes how the Wall Street business model evolved from a method to transfer risk into a method for manufacturing risk. Along the way, this timely book skillfully dissects financial engineering and addresses how it's often a mechanism to evade regulatory constraints, provide institutional investors with customized products, and, of course, generate revenue for financial engineers. Reveals how Wall Street's financial engineering business model morphed into something destructive Highlights how the origami model worked well in the comparatively stable years of the early 2000s, when there was less risk to transfer Discusses how Wall Street began manufacturing risk by creating products that multiplied risk exposures and encouraged subprime lending With the collapse of Lehman Brother the Wall Street business model effectively broke. But there are many lessons to be learned from what has transpired, and Financial Origami will show you what they are.
Vor einer erfolgreichen Verkaufsplanung steht die sorgfältige Marktanalyse. Bei dieser nicht unkomplizierten Aufgabe hilft Ihnen die neue Methode, die in diesem Buch erläutert wird: Wichtige psychologische und technische Indikatoren des Marktverhaltens werden verknüpft. Eine unentbehrliche Fundgrube für alle Händler, die strategische Entscheidungen für ihr Geschäft treffen müssen.
Jim Paul's meteoric rise took him from a small town in Northern Kentucky to governor of the Chicago Mercantile Exchange, yet he lost it all--his fortune, his reputation, and his job--in one fatal attack of excessive economic hubris. In this honest, frank analysis, Paul and Brendan Moynihan revisit the events that led to Paul's disastrous decision and examine the psychological factors behind bad financial practices in several economic sectors. This book--winner of a 2014 Axiom Business Book award gold medal--begins with the unbroken string of successes that helped Paul achieve a jet-setting lifestyle and land a key spot with the Chicago Mercantile Exchange. It then describes the circumstances leading up to Paul's $1.6 million loss and the essential lessons he learned from it--primarily that, although there are as many ways to make money in the markets as there are people participating in them, all losses come from the same few sources. Investors lose money in the markets either because of errors in their analysis or because of psychological barriers preventing the application of analysis. While all analytical methods have some validity and make allowances for instances in which they do not work, psychological factors can keep an investor in a losing position, causing him to abandon one method for another in order to rationalize the decisions already made. Paul and Moynihan's cautionary tale includes strategies for avoiding loss tied to a simple framework for understanding, accepting, and dodging the dangers of investing, trading, and speculating.
Discusses the history, culture, and religion of the Iranians, their place in American society, and the problems they face as an ethnic group in North America.
Jim Paul's meteoric rise took him from a small town in Northern Kentucky to governor of the Chicago Mercantile Exchange, yet he lost it all--his fortune, his reputation, and his job--in one fatal attack of excessive economic hubris. In this honest, frank analysis, Paul and Brendan Moynihan revisit the events that led to Paul's disastrous decision and examine the psychological factors behind bad financial practices in several economic sectors. This book--winner of a 2014 Axiom Business Book award gold medal--begins with the unbroken string of successes that helped Paul achieve a jet-setting lifestyle and land a key spot with the Chicago Mercantile Exchange. It then describes the circumstances leading up to Paul's $1.6 million loss and the essential lessons he learned from it--primarily that, although there are as many ways to make money in the markets as there are people participating in them, all losses come from the same few sources. Investors lose money in the markets either because of errors in their analysis or because of psychological barriers preventing the application of analysis. While all analytical methods have some validity and make allowances for instances in which they do not work, psychological factors can keep an investor in a losing position, causing him to abandon one method for another in order to rationalize the decisions already made. Paul and Moynihan's cautionary tale includes strategies for avoiding loss tied to a simple framework for understanding, accepting, and dodging the dangers of investing, trading, and speculating.
Vor einer erfolgreichen Verkaufsplanung steht die sorgfältige Marktanalyse. Bei dieser nicht unkomplizierten Aufgabe hilft Ihnen die neue Methode, die in diesem Buch erläutert wird: Wichtige psychologische und technische Indikatoren des Marktverhaltens werden verknüpft. Eine unentbehrliche Fundgrube für alle Händler, die strategische Entscheidungen für ihr Geschäft treffen müssen.
An in-depth look at the failure of Wall Street's "proven" financial models Origami is the Japanese art of folding paper into intricate and aesthetically attractive shapes. As such, it is the perfect metaphor for the Wall Street financial engineering model, which ultimately proved to be the underlying cause of the 2008 financial crisis. In Financial Origami, Brendan Moynihan describes how the Wall Street business model evolved from a method to transfer risk into a method for manufacturing risk. Along the way, this timely book skillfully dissects financial engineering and addresses how it's often a mechanism to evade regulatory constraints, provide institutional investors with customized products, and, of course, generate revenue for financial engineers. Reveals how Wall Street's financial engineering business model morphed into something destructive Highlights how the origami model worked well in the comparatively stable years of the early 2000s, when there was less risk to transfer Discusses how Wall Street began manufacturing risk by creating products that multiplied risk exposures and encouraged subprime lending With the collapse of Lehman Brother the Wall Street business model effectively broke. But there are many lessons to be learned from what has transpired, and Financial Origami will show you what they are.
In award-winning author Brendan DuBois’ new mystery novel, defense analyst Lewis Cole must try to save a close friend from a death row murder conviction. In his tenth outing, retired intelligence analyst Lewis Cole faces his most daunting challenge yet: Trying to save his friend Felix Tinios from being sent to death row after a conviction on first degree murder—but Felix refuses to accept Lewis’ assistance. Felix is being charged for the brutal murder of a local businessman—witnesses place him at the location; the recovered murder weapon belonged to Felix; and his fingerprints are all over the crime scene. It seems to be the proverbial open-and-shut case, but Lewis refuses to believe his friend—even though Felix is a former enforcer for the Boston mob—was responsible. As he engages in his one-man attempt to free his friend, two FBI agents come to him with disturbing news: they have word that unless Felix is freed from prison in just three days, he will be murdered while in custody. With time running out, the FBI nipping at his heels, and with Felix’s own lawyer refusing to help, Lewis is on his own as he desperately tries to clear his friend’s name before Felix departs prison . . . as a dead man.
This book provides the first comprehensive treatment of US sanctions policy in the Asia-Pacific. Using the Bill Clinton and George W. Bush presidencies as a basis for comparison, it examines nine prominent episodes involving the US use of sanctions toward countries in this economically and strategically vital part of the world.
The Good Friday Agreement deserved the attention the world gave it, even if it was not always accurately understood. After its ratification in two referendums, for the first time in history political institutions throughout the island of Ireland rested upon the freely given assent of majorities of all the peoples on the island. It marked, it was hoped, the full political decolonization of Ireland. Whether Ireland would reunify, or whether Northern Ireland remain in union with Great Britain now rested on the will of the people of Ireland, North and South respectively: a complex mode of power-sharing addressed the self-determination dispute. The concluding volume of Brendan O'Leary's A Treatise on Northern Ireland explains the making of this settlement, and the many failed initiatives that preceded it under British direct rule. Long-term structural and institutional changes and short-term political maneuvers are given their due in this lively but comprehensive assessment. The Anglo-Irish Agreement is identified as the political tipping point, itself partially the outcome of the hunger strikes of 1980-81 that had prevented the criminalization of republicanism. Until 2016 the prudent judgment seemed to be that the Good Friday Agreement had broadly worked, eventually enabling Sinn Féin and the DUP to share power, with intermittent attention from the sovereign governments. Cultural Catholics appeared content if not in love with the Union with Great Britain. But the decision to hold a referendum on the UK's membership of the European Union has collaterally damaged and destabilized the Good Friday Agreement. That, in turn, has shaped the UK's tortured exit negotiations with the European Union. In appraising these recent events and assessing possible futures, readers will find O'Leary's distinctive angle of vision clear, sharp, unsentimental, and unsparing of reputations, in keeping with the mastery of the historical panoramas displayed throughout this treatise.
This landmark synthesis of political science and historical institutionalism is a detailed study of antagonistic ethnic majoritarianism. Northern Ireland was coercively created through a contested partition in 1920. Subsequently Great Britain compelled Sinn Féin's leaders to rescind the declaration of an Irish Republic, remain within the British Empire, and grant the Belfast Parliament the right to secede. If it did so, a commission would consider modifying the new border. The outcome, however, was the formation of two insecure regimes, North and South, both of which experienced civil war, while the boundary commission was subverted. In the North a control system organized the new majority behind a dominant party that won all elections to the Belfast parliament until its abolition in 1972. The Ulster Unionist Party successfully disorganized Northern nationalists and Catholics. Bolstered by the 'Specials,' a militia created from the Ulster Volunteer Force, this system displayed a pathological version of the Westminster model of democracy, which may reproduce one-party dominance, and enforce national, ethnic, religious, and cultural discrimination. How the Unionist elite improvised this control regime, and why it collapsed under the impact of a civil rights movement in the 1960s, take center-stage in this second volume of A Treatise on Northern Ireland. The North's trajectory is paired and compared with the Irish Free State's incremental decolonization and restoration of a Republic. Irish state-building, however, took place at the expense of the limited prospect of persuading Ulster Protestants that Irish reunification was in their interests, or consistent with their identities. Northern Ireland was placed under British direct rule in 1972 while counter-insurgency practices applied elsewhere in its diminishing empire were deployed from 1969 with disastrous consequences. On January 1 1973, however, the UK and Ireland joined the then European Economic Community. Many hoped that would help end conflict in and over Northern Ireland. Such hopes were premature. Northern Ireland appeared locked in a stalemate of political violence punctuated by failed political initiatives.
Enlisting a natural experiment, global surveys, and historical data, this book examines the university's evolution and its contemporary impact. Its authors conduct an unprecedented big-data comparative study of the consequences of higher education on ideology, democratic citizenship, and more. They conclude that university education has a profound effect on social and political attitudes across the world, greater than that registered by social class, gender, or age. A university education enhances political trust and participation, reduces propensities to crime and corruption, and builds support for democracy. It generates more tolerant attitudes toward social deviance, enhances respect for rationalist inquiry and scientific authority, and usually encourages support for Leftist parties and movements. It does not nurture support for taxation, redistribution, or the welfare state, and may stimulate opposition to these policies. These effects are summarized by the co-authors as liberal, understood in its classic, nineteenth-century meaning.
The United States has poured over a billion dollars into a network of interagency intelligence centers called “fusion centers.” These centers were ostensibly set up to prevent terrorism, but politicians, the press, and policy advocates have criticized them for failing on this account. So why do these security systems persist? Pacifying the Homeland travels inside the secret world of intelligence fusion, looks beyond the apparent failure of fusion centers, and reveals a broader shift away from mass incarceration and toward a more surveillance- and police-intensive system of social regulation. Provided with unprecedented access to domestic intelligence centers, Brendan McQuade uncovers how the institutionalization of intelligence fusion enables decarceration without fully addressing the underlying social problems at the root of mass incarceration. The result is a startling analysis that contributes to the debates on surveillance, mass incarceration, and policing and challenges readers to see surveillance, policing, mass incarceration, and the security state in an entirely new light.
Recent presidents have responded to the evolving rules of the campaign finance system and the competitive electoral landscape by devoting substantial amounts of their most valuable resource—their time—to fundraising. In the follow-up to his 2012 book, The Rise of the President’s Permanent Campaign, Brendan Doherty argues that presidential fundraising is an underexamined tool of modern presidential leadership and should be viewed as an instrument of presidential power akin to signing statements, executive orders, public speeches, and veto threats. Presidents raise campaign cash for themselves and for their fellow party members in the hope of electoral gains that will reshuffle the governing deck in their favor, but acting as fundraiser in chief sparks a host of controversies. Based on an original dataset of 2,190 presidential fundraisers spanning more than four decades of presidents from Carter to Trump, Fundraiser in Chief is the first book-length work to analyze presidential fundraising in a systematic and comprehensive manner. Doherty draws on an unprecedented amount of empirical evidence to shed light on modern presidents’ fundraising priorities and strategies as they seek to move the country closer to their vision of a more perfect union. Fundraiser in Chief is a study of presidential resource allocation strategy: how much of their scarce time presidents devote to fundraising, for whom they do it, what priorities are illuminated by their efforts, how their fundraising strategies relate to the evolving campaign finance landscape, under what circumstances they fundraise behind closed doors, and the resulting controversies and implications for presidential leadership and the American political system. Doherty offers an argument about the incentives that drive presidents to fundraise so frequently while examining the controversial implications of their extensive efforts to raise campaign cash. He contends that rising campaign costs, limits on contributions to candidates and political parties, the inadequacy of the resources provided by the presidential public funding system, the specter of Super PACs raising funds in unlimited amounts, and fiercely competitive contests to control the White House, Congress, and governors’ offices across the country have all incentivized presidents to embrace their role as fundraiser in chief.
Written during the Northern Ireland peace process and just before the Good Friday Agreement, The Politics of Antagonism sets out to answer questions such as why successive British Governments failed to reach a power-sharing settlement in Northern Ireland and what progress has been made with the Anglo-Irish Agreement. O'Leary and McGarry assess these topics in the light of past historical and social-science scholarship, in interviews of key politicians, and in an examination of political violence since 1969. The result is a book which points to feasible strategies for a democratic settlement in the Northern Ireland question and which allows today's scholars and students to analyse approaches to Northern Ireland from the perspective of the recent past.
What's so special about Thomond Park? The crowd. Simply the crowd. The atmosphere is electric.' Donal Spring, one of Munster rugby's greatest. Since the first game played there in 1934, Thomond Park has become one of the world's iconic rugby venues. It is a magnificent stadium, famous for many great occasions, notably Munster's 1978 victory over the All Blacks and the 'Miracle Match' against Gloucester in 2003. It also has a worldwide reputation for tradition, wit and an outstanding sense of fair play. Here the history of Thomond Park is traced in a colourful and entertaining style, featuring some rare photos of Munster favourite Paul O'Connell, and highlighting great games played and great characters who have graced the arena.
Hearing Voices: The History of Psychiatry in Ireland is a monumental work by one of Ireland’s leading Clinical Psychiatrists, encompassing every psychiatric development from the Middle Ages to the present day and examining all of its far-reaching social and political effects.
Hearing Voices: The History of Psychiatry in Ireland is a monumental work by one of Ireland’s leading Clinical Psychiatrists, encompassing every psychiatric development from the Middle Ages to the present day and examining all of its far-reaching social and political effects.
Hearing Voices: The History of Psychiatry in Ireland is a monumental work by one of Ireland’s leading psychiatrists, encompassing every psychiatric development from the Middle Ages to the present day, and examining the far-reaching social and political effects of Ireland’s troubled relationship with mental illness. From the “Glen of Lunatics”, said to cure the mentally ill, to the overcrowded asylums of later centuries – with more beds for the mentally ill than any other country in the world – Ireland has a complex, unsettled history in the practice of psychiatry. Kelly’s definitive work examines Ireland’s unique relationship with conceptions of mental ill health throughout the centuries, delving into each medical breakthrough and every misuse of authority – both political and domestic – for those deemed to be mentally ill. Through fascinating archival records, Kelly writes a crisp and accessible history, evaluating everything from individual case histories to the seismic effects of the First World War, and exploring the attitudes that guided treatments, spanning Brehon Law to the emerging emphasis on human rights. Hearing Voices is a marvel that affords incredible insight into Ireland’s social and medical history while providing powerful observations on our current treatment of mental ill health in Ireland.
In this fundamentally important work, Professor Brendan Kelly explores the background to Irish psychiatry in the nineteenth and early twentieth centuries, charting its progress and development. Using detailed case studies from the original records, the author examines some of the more unusual treatments explored and the history behind them. What emerges is a collection of piercing, untold stories of crime and illness, drama and tragedy. They are filled with a sense of the powerlessness of those detained and the dedicated – and sometimes misguided – enthusiasm of those trying to help. This book sheds important light on the foundations for the treatment of mental illness in Ireland.
A major introductory textbook for students of politics, sociology and public administration on theories of the state and of politics. The five core chapters each introduce a major school of thought providing a substantial analysis of the methodology and philosophy, as well as the main objections and criticisms to which each has given rise. The theories and examples are drawn from a wide range of industrial societies.
The authoritative exposé of private equity: what it is, how it kills businesses and jobs, how the government helps, and how we stop it Private equity surrounds us. Firms like Blackstone, Carlyle, and KKR are among the largest employers in America and hold assets that rival those of small countries. Yet few understand what these firms are or how they work. In Plunder, Brendan Ballou explains how private equity has reshaped American business by raising prices, reducing quality, cutting jobs, and shifting resources from productive to unproductive parts of the economy. Ballou vividly illustrates how many private equity firms buy up retailers, medical practices, prison services, nursing-home chains, and mobile-home parks, among other businesses, using little of their own money to do it and avoiding debt and liability for their actions. Forced to take on huge debts and pay extractive fees, companies purchased by private equity firms are often left bankrupt, or shells of their former selves, with consequences to communities that long depended on them. Perhaps most startling is Ballou’s insight into how this is happening with the active support of various arms of the government. But, as Ballou reveals in an agenda for reining in the industry, private equity can be stopped from wreaking further havoc.
Leahy presents the movements as examples of the Church's charismatic dimension, a principle which Pope John Paul II described as 'co-essential' with the hierarchical-institutional dimension. Rev. Brendan Leahy is Professor of Systematic Theology at the Pontifical University of St Patrick's College, Maynooth, in Ireland. He is a von Balthasar scholar and an ecumenist and has also written articles and books on interreligious dialogue, issues facing the Church in the 21st century, renewal in the Church, and the priesthood.
Social Capital and Schooling Decisions: a Multi-level Comparison with Selected Cases in Cameroon and Germany is a book written in a time when global political and economic organizations put education in front of their agenda and set up agencies in different educational institutions for reforming the current society. This volume examines the educational problem of difficult participation in formal education and the non-possession of educational certificates in a global and multi-level perspective - with reference to Cameroon and Germany as two distinct places within the modern world system. The author, with her transnational experiences in both countries uses a data set of 138 at-risk young adults to highlight the specific educational meaning of social capital and to underline the need for analyzing educational problems in a multi-level comparative perspective. The book concludes that context matters and emphasizes on the need for the creation of a more equitable social and economic development policy which counteracts the inequality that is inherent in most centre - peripheral relations. About the Author: Brendan Ngeloo Abamukong holds a PhD in Educational Science and has worked as a research and teaching assistant at the Faculty of Human Sciences, department of Education at the Otto-von-Guericke University of Magdeburg, Germany. She has currently moved to the Netherlands where she intends to continue her carrier in both educational research and practice.
Imagining the figure of the fictional detective as an archetype in the study of modern culture, the author argues that contemporary detective fiction can help us better comprehend fundamental shifts of the Digital Age--in communication, family, entertainment, society, even the way we think as individuals. The nature of the detective story itself models how we build and share knowledge. Drawing on concepts from literature and media studies, the author reveals clues about modern phenomena like conspiracy theory, groupthink and the nature of our digital identities.
This book was written to try and answer the question: ‘where and when did political spin originate?’ It deals with the techniques of news management developed and used in those advanced democracies who have laws to protect a free press. such as the United States of America, and to a lesser extent its first cousin, several times removed, the United Kingdom of Great Britain & Northern Ireland, or to be more precise, England, who in 1695 became the first country in the world to enshrine a free press into their constitutional law. This joint history of legal protections of press freedom; governmental toleration of free speech; progressive legislation to widen the franchise; vigorous growth in political parties; pluralism and its consequence, the peaceful coexistence of different interests, convictions and lifestyles; a healthy adherence to Burkean ‘little platoons’ of volunteers; and, most of all, sophisticated developments in mass media technologies and consumer marketing techniques; all of which means that the Anglo-Saxon cousins are, and have always been, in the vanguard of news management. Government and media have been at war from the very beginning. Au fond this is a struggle for allegiance. The media want the allegiance of their readers and viewers, because this brings them the profits they need to remain in business. As Patrick Le Lay, then CEO of the main French private channel TF1 put it: "There are many ways to speak about TV, but in a business perspective, let's be realistic: TF1's job is to help Coca-Cola sell its product. What we sell to Coca-Cola is available human brain time." Government on the other hand wants the allegiance of the voter, to acquire or retain power. The famous Victorian editor of 'The Times', Thomas Barnes, once said that the "newspaper is not an organ through which Government can influence people, but through which people can influence the Government." Politicians would reverse the dictum. And therein lies the causus belli. The politician's strategy for winning this war was stated most succinctly by that arch media manipulator, David Lloyd George: "what you can't square, you squash; and what you can't squash, you square." The media for their part, are determined to be neither squashed nor squared. From 1800 in the US and 1832 in Britain (when Germany and Italy were just a glint in the eye of some petty princes; and France was recovering from yet another pointless 'revolution' leaving behind yet another example of Kafka's bureaucratic slime); competitive, party based elections produced extraordinary outbursts of creativity. Politicians learned that the art of politics is about making and then winning arguments. As each successive cutting edge novelty arrived, the spin doctors quickly adapted and improved their techniques by adroitly exploiting the new medium’s benefits. For two centuries (and even before) the ‘Anglo-Saxons’ have led the world in spin: this is the history of that journey.
A collection of interviews of the top fiddlers in the Irish tradition, Handy with the Stick brings together previously published magazine pieces with new work to present a broad view of Irish fiddling. Interviewees include Tommy Peoples, Siobhan Peoples, Paddy Glackin, Matt Cranitch, John Carty, Brendan McGlinchey, Caoimhin O Raghallaigh and Sarah Blair. Historical pieces include Junior Crehan, Patrick Kelly and Sean Ryan. By looking at players from multiple eras and regional styles, Handy with the Stick deepens our understanding of the people involved in Irish traditional music. Each chapter is accompanied by transcriptions of representative fiddle tunes, some of which are previously unpublished originals.•
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