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traditional view that charging for loans was inherently unjust.
Edward Chancellor • The Price of Time: The Real Story of Interest
"The time has come to do our mea culpa," Hans-Joerg Rudloff, chairman of the executive committee at Barclays Capital, told an audience of fellow bank and brokerage executives in London in 2002. "Argentina obviously stands as much as Enron" in showing that "things have been done and said by our industry which were realized a
... See morePaul Blustein • And the Money Kept Rolling in (And Out): Wall Street, the Imf, And the Bankrupting of Argentina: Wall Street, the IMF and the Bankrupting of Argentina
But to the Company’s directors in London this branch of their servants’ activities, with all its bizarre and colourful ramifications, would ever be a subject for misunderstanding and suspicion. The ‘country trade’, as it was called, invariably confounded the auditors but enriched the adventurers.
John Keay • The Honourable Company: History of the English East India Company
Someone out there was using the fact that stock market orders arrived at different times at different exchanges to front-run orders from one market to another.
Michael Lewis • Flash Boys: A Wall Street Revolt
(Rockefeller borrowed aggressively from banks, but those were mostly cash flow loans that were quickly repaid, not long-term investment capital.)
Charles R. Morris • The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy
Almost everyone on Wall Street took his money seriously, regardless of its origins,
Michael Lewis • Liar's Poker (Norton Paperback)
When Commodity Futures Trading Commission chairperson (1996–99) Brooksley Born wanted to regulate the derivatives that would later be a major cause of disaster, the PBS program Frontline detailed how she was blocked in 1998 by the triumvirate of Federal Reserve chairman Alan Greenspan, US Treasury Secretary Robert Rubin, and Deputy US Treasury Secr
... See moreEdward O. Thorp • A Man for All Markets
Salomon bond traders knew about fools because that was their job. Knowing about markets is knowing about other people’s weaknesses.