Extreme Money - Das, Satyajit
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From the bestselling author of Traders, Guns and Money , Satyajit Das, this witty and accessible introduction to the world of extreme money tells the stories of the well-known — and not so well-known — financiers and traders whose market exuberance and audacious financial risk-taking have resulted in extraordinary returns for themselves and their backers.
Many commentators — and financial regulatory bodies — are beginning to question recent financial practices. This book provides an overview of the history of the culture of high risk and high greed and explains what ordinary citizens can do…mehr

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Produktbeschreibung
From the bestselling author of Traders, Guns and Money, Satyajit Das, this witty and accessible introduction to the world of extreme money tells the stories of the well-known — and not so well-known — financiers and traders whose market exuberance and audacious financial risk-taking have resulted in extraordinary returns for themselves and their backers.

Many commentators — and financial regulatory bodies — are beginning to question recent financial practices. This book provides an overview of the history of the culture of high risk and high greed and explains what ordinary citizens can do to reclaim control of their economic and financial destiny.

Product Description
The human race created money and finance. But our inventions re-create us. Mankind mistook money—a lubricant of society and human well-being—for an end in itself. Finance, the monetary shadow of real things, came to dominate human reality. Extreme Money tells the story of how this happened—and, in so doing, it tells the story of the modern world.

Bestselling author Satyajit Das draws on 33 years of personal experience at the heart of modern global finance to narrate this story. Das reveals the spectacular, dangerous money games that have generated increasingly massive bubbles of fake growth, Ponzi prosperity, sophistication, and wealth—while endangering the jobs, possessions, and futures of virtually everyone outside the financial industry. Das shows how “extreme money” has become ever more unreal; how “voodoo banking” continues to generate massive phony profits even now; and how a new generation of “Masters of the Universe” has come to dominate the world.

Extreme Money is about:
The new financial fundamentalism: false gods, false prophets - Faith in money, faith in risk, faith in shadows
The cult of risk and the growth engine that isn’t - How financial engineering replaced real engineering and illusions replaced reality
Financial alchemy and the “Doomsday Debt Machine”- The rise of the global financial machine we cannot escape
The new global oligarchy—and the nihilistic games they pla y - Too smart, too fast, too greedy, too self-absorbed—and far too dangerous

Backcover
'A true insider’s devastating analysis of the financial alchemy of the last 30 years and its destructive consequences. With his intimate first-hand knowledge, Das takes a knife to global finance and financiers to reveal its inner workings without fear or favor.'

-Nouriel Roubini , Professor of Economics at NYU Stern School of Business and Chairman of Roubini Global Economics

'Das describes the causes of the financial crisis with the insight and understanding of a financial wizard, the candor and objectivity of an impartial observer, and a wry sense of humor that reveals the folly in it all.'

Brooksley Born , former chairperson of the U.S. Commodity Futures Trading Commission (CFTC)

Once upon a time human society built things. We engineered beautiful objects and created authentic goods. Now this real industrial engineering has been replaced by financial engineering: shuffling money in an endless process of debt, trading and speculation. It’s enabled vast fortunes to be made for a few, while the risk was borne by ordinary people – the 'privatisation of gain' and 'socialisation of losses'.

Extreme Money tells the story of spectacular and dangerous money games and those elite bankers, traders and financiers, the so-called Masters of the Universe, who continue to play them. Written by an insider, Extreme Money will show you how, little by little, we’ve all become slaves to financial alchemy and have been enchanted by our own illusory creation: the cult of global finance.

Prologue: Hubris

Sub-prime dialects

Best in show

The Physical Impossibility of Death in the Mind of Someone Living

Retreat

Swiss inquisitions

Idea of an investment

Ambush

Mega presentations

Fording streams

Liquidity and leverage

Democracy of greed

Pick and pay

Black Sea real estate

Life on the margin

Racing days

Dr Doom

Extreme money

Part 1 Faith

1 Mirror of the times

Some kinda money

Trading places

The invention of money

Barbarous relic

The real thing

The Hotel New Hampshire

Collapse

Money machines

Debt clock

Money is nothing

The mirrored room

2 Money changes everything

Mrs Watanabe goes to Wall Street

FX Beauties Club

Plutonomy

Trickling down, trading up

I shop, therefore I must be!

Spend it like Beckham!

Golden years

Tax avoidance

Japanese curse

The god of our time

3 Business of business

Limited consciences

A brilliant daring speculation

Dirty tricks

Marriages and separations

The house that Jack built

Capital ideas

WWJD – watch what Jack did!

Business dealings

4 Money for sale

It’s a wonderful bank!

Pass the parcel

Loan frenzy

Plastic fantastic money

Casino banking

Confidence tricks

The Citi of money

Sign of the times

5 Yellow brick road

Monumental money

The battle of the ‘pond’

Cool Britannia

Barbarian invasions

Unlikely centres

El-Dollardo economics

The unbalanced bicycle

Foreign treasure

Fool’s gold

Liquidity vortex

6 Money honey

Printing it

Column inches

Video money

Studs, starlets

Financial porn

Speedy money

Literary money

Money for all

Part 2 Fundamentalism

7 Los Cee-Ca-Go boys

Dismal science

Chicago Interpretation

Economic politics

Academic warfare

The Gipper and the Iron Lady

Political economy

New old deal

The monetary lens

Unstable stability?

8 False gods, fake prophecies

Mystery of price

Demon of chance

Corporate M&Ms

Risk taming

Slow and quick money

Corporate practice

Everything is just noise

Perfect worlds

Financial fundamentalism

Fata morgana

Part 3 Alchemy

9 Learning to love debt

Fixed floor coverings

By the bootstraps

Leverage for everything

Cutting to the bone

Professor Jensen goes to Wall Street

Drowning by numbers

Censored loans

High opportunity bonds

Fallen angels

Junk people

Milken’s mobsters

The sweet envy of bankers

Thank you for borrowing

One bridge too far

National treasure

10 Private vices

Excess returns

Sexy private equity

Inflight entertainment

Selling the family silver

Holey dollar

Money for nothing

Public squalor, private profits

Locust plagues

Vain capital

Amateur hour

Turbulence

11 Dice with debt

Securitisation recipes

Slice and dice

Almost as safe as houses

Synthetic stuff

Get copula-ed

Sticky mess

Several houses of one’s own

Cheaper cuts of mortgage

ARMs race

Heroes for one day

12 The doomsday debt machine

Alpha-debt soup

In the shadow of debt

Virtual loans

Counting on the abacus

Intellectual masturbation

Used to be smart

Chain reaction

Phase transition

Terra icognito

13 Risk supermarkets

Mind your derivatives

Particle finance

Hedging your bets

Sewer bonds

Harvard case studies

The Italian job

Betting your hedge

TARDIS trades

I will kill you later

First to lose

Toxic municipal siblings

Playing swaps and robbers

The Greek job

Madman’s games

14 Financial arms race

Shock-Gen

Evil Kerviel

Soldier monks

Mystère Kerviel

Risk is our business

Free money

Credit’s fatal attraction

Post-modern contradictions

Derivative deconstruction

Piñata parties

15 Woodstock for hedge funds

Keeping up with the Joneses

In search of Moby Dick

Style gurus

Magic wand

Lucky man

Sharpe practice

Embedded

In the long run, we are all dead

The game

The more things change

Hedgestock

16 Minsky machines

Affinities and curses

Crowded hours

Crime without punishment

Fast cars, slow hedge funds

Fast cornering

Children of privilege

Make money not war

Part 4 Oligarchy

17 War games

Borrowed times

Liquidity factory

Six degrees of separation

Paper chains

Toxic pathologies

Relying on the Zohar

Blind capital

Rent collectors

Best in best possible world

18 Shell games

Central bank republics

Games of old maid

Protection rackets

Stockholm syndrome

Free speech

No accounting for values

Mark to make believe

Out of sight

Creeping crumble

Management by neglect

Directing traffic

19 Cult of risk

Growth for all season

Financial groupthink

Celebrity central banking

Dealing with dissent

Noneofuscouldanode

Je ne regrette rien!

Last supper

20 Masters of the Universe

Money illusions

Factories for unhappy people

War versus money

Shop floors

Smiling and killing

Pay grades

Much more than this

Attached

Bonus season

Plenty

Tipping points

21 Financial nihilism

Cosmetic consumption<
'A true insiders devastating analysis of the financial alchemy of the last 30 years and its destructive consequences. With his intimate first-hand knowledge, Das takes a knife to global finance and financiers to reveal its inner workings without fear or favor.'

-Nouriel Roubini, Professor of Economics at NYU Stern School of Business and Chairman of Roubini Global Economics

'Das describes the causes of the financial crisis with the insight and understanding of a financial wizard, the candor and objectivity of an impartial observer, and a wry sense of humor that reveals the folly in it all.'

Brooksley Born, former chairperson of the U.S. Commodity Futures Trading Commission (CFTC)

Once upon a time human society built things. We engineered beautiful objects and created authentic goods. Now this real industrial engineering has been replaced by financial engineering: shuffling money in an endless process of debt, trading and speculation. Its enabled vast fortunes to be made for a few, while the risk was borne by ordinary people the 'privatisation of gain' and 'socialisation of losses'.

Extreme Money tells the story of spectacular and dangerous money games and those elite bankers, traders and financiers, the so-called Masters of the Universe, who continue to play them. Written by an insider, Extreme Money will show you how, little by little, weve all become slaves to financial alchemy and have been enchanted by our own illusory creation: the cult of global finance.

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Autorenporträt
Satyajit Das is an internationally respected expert in finance with 33 years experience. He has worked for the sell side (Citicorp Investment Bank and Merrill Lynch), the buy side (as Treasurer of the TNT Group), and as a consultant advising banks, investors, corporations, and central banks worldwide. Das is the author of many highly regarded standard reference books on derivatives and risk management. In 2006, he published the international bestseller Traders, Guns & Money, an extraordinary insiders account of the world of derivatives trading. In Traders and in a series of speeches in 2006 entitled - The Coming Credit Crash, Das anticipated many of the problems that became apparent in the financial crisis and are still affecting the global economy. He was recently featured in Charles Fergusons 2010 Oscar®-winning documentary Inside Job and the 2009 BBC documentary Tricks with Risk.