Andrew Ross Sorkin's "Too Big to Fail" is a gripping account of the financial crisis that shook the world economy to its core. With unprecedented access to the key players involved, Sorkin takes us behind the scenes of secret meetings in South Korea, the corridors of Washington, and the corner office at Lehman Brothers. The book is a real-life thriller, revealing never-disclosed details and the decisions made on Wall Street that sowed the seeds of the debacle. This is a must-read for anyone interested in the world of finance, politics, and the fate of the global economy. Recommended for finance enthusiasts, political science students, and anyone interested in understanding the causes and consequences of the 2008 financial crisis. This book provides a moment-by-moment account of how the crisis developed into a global tsunami, with unprecedented access to the key players involved. It sheds light on the decisions made on Wall Street that led to the collapse of Lehman Brothers and the subsequent bailout of the world's biggest banks. Anyone looking to gain insights into the workings of the finance industry and the role of politics in shaping the global economy will find this book a fascinating read.

If you're a student who is intrigued by the complex and ever-changing world of business, corporate law could be the perfect career path for you. Corporate lawyers play a critical role in advising companies on legal matters and helping them navigate the intricate web of laws and regulations that govern modern commerce. Here's a closer look at what a career in corporate law entails and why it might be a great fit for you. Corporate law is a fascinating field that blends business and law, with a focus on the legal issues that arise in the context of corporate activities. Corporate lawyers help companies with a wide range of legal matters, such as structuring and negotiating business transactions, complying with regulatory requirements, and resolving disputes. Some corporate lawyers work in-house for a single company, while others work for law firms that provide legal services to multiple clients. One of the most appealing aspects of a career in corporate law is the opportunity to work on high-stakes deals and transactions that can have a significant impact on the global economy. For example, a corporate lawyer might work on a merger between two multinational companies, help a startup navigate the legal hurdles of an initial public offering (IPO), or advise a Fortune 500 company on a major joint venture. The work can be challenging, but also incredibly rewarding. In terms of day-to-day responsibilities, corporate lawyers often research and analyze legal issues, draft contracts and other legal documents, and advise clients on the legal implications of various business decisions. Some corporate lawyers specialize in particular areas of law, such as securities law, tax law, or intellectual property law. Others work in related fields such as mergers and acquisitions, private equity, or investment banking. To become a corporate lawyer, you'll typically need to earn a law degree (J.D.) and pass the bar exam in the state where you plan to practice. Some popular undergraduate majors for aspiring corporate lawyers include business, economics, and political science. Many law schools offer courses and clinics focused specifically on corporate law, and some also offer joint degree programs that combine law and business. In terms of personal attributes, successful corporate lawyers tend to be analytical, detail-oriented, and able to think strategically. They should also have excellent communication skills, as they will be working closely with clients, other lawyers, and business executives. The job prospects for corporate lawyers are generally strong, particularly at top law firms and in-house legal departments at large companies. Many of the world's leading law firms have dedicated corporate practices, and some of the most well-known names in the business world, such as Goldman Sachs, Microsoft, and Procter & Gamble, have large legal departments that employ corporate lawyers.

Financial regulators have finally taken an interest in cryptocurrencies due to political pressure, despite law enforcement closely monitoring transactions for years. While crypto may not pose significant micro or macro concerns, regulators are compelled to act. However, their actions may backfire, warns Dr Jon Danielsson.

In his book, Robert Bork offers a unique perspective on antitrust law that challenges conventional wisdom. He argues that these laws, often thought to protect consumers, actually do the opposite by favoring inefficient small businesses. Bork also delves into the societal tensions between liberty and equality that are reflected in antitrust law. This book is a must-read for anyone interested in economics, law, or politics, as it sheds new light on an important and often misunderstood topic. Recommended for students of law, economics, and political science, as well as anyone interested in understanding the impact of antitrust law on consumers and small businesses. The insights offered by Bork's analysis of the societal tensions between liberty and equality are also relevant to those studying sociology and philosophy. This book is particularly relevant to those interested in the intersection of law and economics, and the role of government in regulating business practices. It is also a valuable resource for entrepreneurs and small business owners seeking to understand the impact of antitrust laws on their industry.

Do you have a passion for law and a knack for business? Are you interested in helping corporations navigate the legal landscape and protect their interests? Then a career in Corporate Counsel might be the perfect fit for you! As a Corporate Counsel, you will be responsible for providing legal guidance and advice to businesses on a variety of matters, including contracts, compliance, intellectual property, and more. You will work closely with executives and other stakeholders to ensure that the company is operating within the bounds of the law and that its interests are protected. One of the most appealing aspects of this career is the opportunity to work with a wide range of clients and industries. From tech startups to multinational corporations, every business needs legal guidance, and as a Corporate Counsel, you will have the chance to work with some of the biggest and most innovative companies in the world. Some of the typical duties of a Corporate Counsel might include negotiating contracts, drafting legal documents, conducting research on legal issues, and providing advice on regulatory compliance. There are also many potential areas of specialisation within the field, such as employment law, tax law, and intellectual property law. To become a Corporate Counsel, you will typically need a law degree and a license to practice law in your jurisdiction. Many Corporate Counsel also have undergraduate degrees in business or related fields, such as finance or accounting. Popular undergraduate programs and majors for those interested in this career include Business Administration, Economics, and Political Science. In addition to the required education and training, there are certain personal attributes that can be helpful in this career. Strong communication skills, attention to detail, and a strategic mindset are all important qualities for a successful Corporate Counsel. Job prospects for Corporate Counsel are generally quite strong, with many opportunities available in both the public and private sectors. Some notable potential employers include Amazon, Google, and Microsoft, as well as government agencies such as the Securities and Exchange Commission and the Department of Justice. So if you're looking for a challenging and rewarding career that combines your passion for law and business, consider a career in Corporate Counsel!

Corporate Law is the dynamic and fascinating field of law that deals with the legal aspects of businesses and corporations. It is a field that is constantly evolving and adapting to the ever-changing business world, making it an exciting and challenging area of study. One of the most interesting aspects of Corporate Law is its relevance to real-life situations. For example, when a company merges with another, Corporate Law governs the legal framework of the transaction. This can involve complex legal negotiations, drafting of agreements, and regulatory compliance. Corporate Law is also responsible for the legal aspects of corporate governance, including the roles and responsibilities of directors and officers, and the rights of shareholders. Innovative research and academic discourse in Corporate Law is constantly pushing the boundaries of what is possible. For instance, there is ongoing research into the use of blockchain technology to streamline corporate transactions and improve transparency. There are also debates around the role of corporations in society, and the extent to which they should prioritize social responsibility. At undergraduate level, students can expect to study a range of modules including Contract Law, Company Law, and Securities Regulation. Further specializations could include Mergers and Acquisitions or Intellectual Property Law. Real-life examples of Corporate Law in action include the acquisition of Instagram by Facebook, or the patent infringement litigation between Apple and Samsung. A degree in Corporate Law can open up a wide range of career opportunities, including roles in law firms, corporations, government agencies, and non-profit organizations. Notable employers include top law firms such as Skadden, Arps, Slate, Meagher & Flom, and global corporations such as Google and Goldman Sachs. To succeed in Corporate Law, students should possess strong analytical skills, attention to detail, and excellent communication skills. An interest in business and economics is also helpful, as is the ability to work well under pressure. Overall, a degree in Corporate Law is an exciting and rewarding path for students interested in the intersection of law and business.

Former Goldman Sachs executive, Roger Ng, has been sentenced to 10 years in prison for his role in the 1MDB scandal. The scandal involved the looting of billions of dollars from Malaysia's sovereign wealth fund, leading to massive fines for Goldman and rocking Malaysian politics. Ng had denied the charges, but prosecutors argued he played a key role in a corruption scheme that took funds intended for development projects and used them for bribes and personal gain. Learn more about this audacious scheme and its impact on global institutions.

Why do companies manipulate their financial reports? A new study shows that the financial incentives of rank-and-file employees play a significant role in shaping corporate financial reporting. Researchers found that higher pay and fixed compensation for junior accountants can improve accounting quality, while cash bonuses tied to corporate earnings can lead to aggressive revenue recognition and misreporting. Learn more about the bean counters' dilemma and its impact on financial reporting in this thought-provoking study by the Stanford Graduate School of Business and the University of Washington's Foster School of Business.

The rise of the sharing economy has revolutionized the way we live, work and play. From car sharing and home sharing to peer-to-peer lending and crowdfunding, the power of peer-to-peer exchange has disrupted traditional industries, challenged existing regulations, and transformed our understanding of ownership, trust, and community. But what exactly is peer-to-peer economy, and what are the opportunities and challenges it presents for students interested in exploring this cutting-edge academic topic? Peer-to-peer economy refers to a decentralized and networked system of exchange that allows individuals to share, borrow, rent, or sell goods and services directly with each other, often facilitated by online platforms and apps. The key features of peer-to-peer economy are its peer-to-peer nature, its disintermediation of middlemen, its emphasis on trust and reputation, and its potential for collaborative consumption, innovation, and empowerment. The opportunities of peer-to-peer economy are manifold. For example, it can democratize access to resources, reduce waste and carbon footprint, promote social cohesion and inclusivity, and foster entrepreneurship and creativity. According to a report by PwC, the global sharing economy is projected to grow from $15 billion in 2013 to $335 billion in 2025, with sectors such as transportation, accommodation, and finance leading the way. However, the challenges of peer-to-peer economy should not be overlooked. These include issues of regulation, taxation, liability, safety, privacy, and labor rights, as well as the potential for digital divides, fraud, discrimination, and exploitation. Moreover, the impact of peer-to-peer economy on social norms, cultural values, and the common good is still under debate and scrutiny. In conclusion, the peer-to-peer economy is a fascinating and dynamic topic that offers students a wealth of opportunities and challenges to explore. By reading, reflecting, writing, and engaging in self-directed projects, students can gain a deeper understanding of this transformative phenomenon and its implications for the future of work, consumption, and society. So why not take the leap and start your journey of discovery today? The peer-to-peer economy is waiting for you!

The topics of securitisation and the global financial crisis are not just about numbers, facts, and statistics, but also about human failure, greed, and risk. It's a tale of how a small spark in the world of finance led to a massive explosion that shook the global economy to its core. Let's start with the basics. Securitisation is the process of pooling together various financial assets and then selling securities backed by those assets to investors. The idea behind securitisation was to spread the risk of default among many different investors and make the financial system more stable. However, the reality was far from what was promised. The global financial crisis of 2008 was triggered by the collapse of the housing market, which had been the backbone of the securitisation industry. The crisis was caused by the failure of the rating agencies, who were supposed to assess the risk associated with securities, but instead, gave high ratings to securities backed by risky loans. Ever heard of the term NINJA loans? No Income, No Job, No Assets - these were the types of loans that were being securitised and sold to investors. The financial industry was full of these loans, and the ratings agencies were happy to give high ratings to these securities, leading to the financial crisis. Leading academics such as Raghuram Rajan and Joseph Stiglitz have made significant contributions to the field of securitisation and the global financial crisis. Rajan highlighted the dangers of the financial system's reliance on securitisation, while Stiglitz criticised the rating agencies for their role in the crisis. We hope this write-up has inspired you to dive deeper into the world of securitisation and the global financial crisis. It's a fascinating topic with real-life examples and lessons to be learned. So, grab a book, turn on a documentary, or start a project, and let your imagination take you on a journey to a world of risk, failure, and exploration.

The global financial crisis of 2008 led to economic turmoil and widespread job loss, but the role of OTC (over-the-counter) derivatives in the crash is not well understood. These complex financial instruments were designed to reduce risk, but they amplified it, resulting in massive losses and a bailout that cost taxpayers trillions of dollars. OTC derivatives are contracts that allow parties to speculate on the future value of assets such as stocks, bonds, or commodities. They are privately negotiated and not traded on public exchanges, which makes them less transparent and harder to regulate. Banks and other financial institutions created increasingly complex and risky derivatives, such as credit default swaps (CDS) that allowed investors to bet on the likelihood of default on mortgages and other debt in the years leading up to the crisis. When the housing bubble burst and homeowners began defaulting on their mortgages, the value of CDS contracts plummeted, causing massive losses for those who held them. This triggered a chain reaction of failures and bailouts as banks tried to shore up their balance sheets and avoid bankruptcy. The government bailouts of banks and other financial institutions during the crisis are estimated to have cost $12.8 trillion globally, including direct and indirect costs such as lost tax revenue and economic output. Leading academics have been critical of the lack of transparency and regulation in the OTC derivatives market. Senator Elizabeth Warren, a law professor and former chair of the Congressional Oversight Panel for TARP, has argued that the complexity and opacity of these instruments makes it difficult to assess risk and protect consumers. Nobel laureate economist Joseph Stiglitz has also warned of the dangers of unregulated financial innovation, calling for stronger oversight and better risk management. Understanding the role of OTC derivatives in the global financial crisis is a lesson in the need for transparency, accountability, and responsible risk management in the world of finance. By exploring this and related topics in more depth, students can gain valuable insights into the workings of the economy and the forces that shape our world.

In Competition Policy in America, Rudolph Peritz explores the complex and often contradictory visions of free competition that have shaped modern political economy. Through examining congressional debates, court opinions, economic and political scholarship, and administrative agency activities, Peritz shows how the discourse of free competition has mediated between individual liberty and rough equality. This indispensable framework provides insight into political campaign finance reform, corporate takeover regulation, and current attitudes toward the New Deal Legacy. Peritz's historical inquiry is a must-read for anyone interested in understanding the evolution of modern political economy. Recommended for students of law, history, economics, sociology, and political science, Competition Policy in America provides a unique perspective on the role of free competition in shaping modern public policy. This book will be particularly relevant to those interested in political campaign finance reform, corporate takeover regulation, and the New Deal Legacy. Peritz's analysis of the two distinct and sometimes contradictory visions of free competition provides a valuable framework for understanding the evolution of modern political economy, making this book a must-read for policy makers and business professionals alike.

Robert Frank's "The High-Beta Rich" exposes the untold story of the high-beta rich and their impact on the American economy. With vivid storytelling, Frank takes readers inside the mortgaged mansions, blown-up balance sheets, and repossessed Bentleys and Gulfstreams. The book highlights how the top 1% of the population, who control more than a third of the country's wealth, are becoming an increasingly unstable force in the economy, wreaking havoc on communities, employment opportunities, and government finances. This engrossing read is a must for anyone interested in understanding the national consequences of high-beta wealth. Recommended for economics and business students, policymakers, and anyone interested in understanding the impact of wealth inequality on the economy and society. The book's insights into the volatile nature of high-beta wealth and its consequences for communities, employment opportunities, and government finances make it an important read for those concerned with economic stability and social justice. The book's vivid storytelling and analysis of the lives of the high-beta rich also make it an entertaining read for anyone interested in the lifestyles of the wealthy.

In "The Curse of Cash," Kenneth Rogoff, a world-renowned economist, presents a radical idea: getting rid of most paper money to fight crime, tax evasion, and financial crises. With a record $1.4 trillion in US dollars alone, paper money is feeding a massive underground economy, crippling monetary policy, and making us poorer and less safe. Rogoff offers a plan to phase out most paper money, leaving small-denomination bills and coins in circulation, and addresses the issues the transition will pose. This thought-provoking book is a must-read for anyone interested in economics, finance, politics, and social justice. Recommended for students of economics, finance, and political science, as well as professionals in banking, law enforcement, and policy-making, "The Curse of Cash" sheds light on the hidden costs and dangers of paper money and proposes a bold solution to some of the world's biggest problems. By exploring the links between cash, crime, corruption, terrorism, and economic inequality, Rogoff challenges us to rethink our assumptions about money and value, and to consider the implications of a cashless society for privacy, security, and social welfare. This book is also relevant to anyone interested in global affairs, technology, and the future of money.

Did you know that corporate fraud may be more widespread than we think? According to Professor Alexander Dyck and his team, 3% of U.S. companies are caught committing fraud each year under typical surveillance, but the real number may be closer to 10%. Their research, which examines the impact of the Enron scandal on detecting fraud, also estimated that fraud destroys about 1.6% of a company's equity value, representing about $830 billion in current U.S. dollars. This research will inspire you to explore the topic further and think critically about the role of regulation and oversight in corporate governance.

Are you passionate about conflict resolution and interested in a career that involves negotiating and resolving disputes? Look no further than a career in arbitration. As an arbitrator, you can help individuals, organizations, and even countries resolve conflicts in a fair and impartial manner. Arbitration is a legal process in which a neutral third party, the arbitrator, is appointed to resolve disputes between two or more parties. Unlike traditional court proceedings, arbitration offers a more private, efficient, and cost-effective way to resolve disputes. The arbitrator's decision is final and binding, and the parties involved must abide by the decision. In the world of arbitration, there are a wide variety of fields and specializations to choose from. For instance, you could specialize in international arbitration, labor disputes, construction disputes, or even sports disputes. As an arbitrator, you will typically be responsible for reviewing evidence, conducting hearings, and rendering a final decision. You will need to have excellent communication, analytical, and negotiation skills, as well as a strong knowledge of the law and legal procedures. To become an arbitrator, you will typically need to have a degree in law, business, or a related field. Some popular undergraduate programs and majors include law, international relations, economics, and business administration. In addition to your education, you will also need to gain practical experience in the field. Many aspiring arbitrators start by working as paralegals or legal assistants, and then move on to become arbitrators. If you are considering a career in arbitration, it's important to have certain personal attributes. You should be a good listener, have excellent problem-solving skills, and be able to think creatively and critically. You should also be able to remain impartial and objective, even in the face of highly emotional or contentious disputes. The job prospects for arbitrators are excellent, and the longer-term outlook is positive. Many private and public sector organizations are seeking arbitrators to help resolve disputes. Some notable employers include the American Arbitration Association, the International Chamber of Commerce, and JAMS, one of the largest private alternative dispute resolution providers in the world.

New research by Takuo Sugaya (Stanford Graduate School of Business) and Mitsuru Igami (Yale Department of Economics) reveals the conditions needed for illegal cartels to survive and the factors that lead to their failure. Using game theory to analyze one of the biggest cartel cases in modern history, the researchers discovered that sustained collusion requires mutually beneficial incentives for all companies involved. Findings have implications for policymakers and regulators in their approval of mergers and investment in innovation.

In 2015, the world was rocked by the revelation that Volkswagen, the world's largest automaker, had been systematically cheating on emissions tests for its diesel vehicles. The scandal involved over 11 million vehicles worldwide, and led to fines, recalls, and a major blow to Volkswagen's reputation. But how did this happen? At the heart of the matter was a failure of corporate governance. Volkswagen's management structure, which gave its CEO enormous power and limited oversight by the board of directors, created an environment where unethical behavior could thrive. Specifically, Volkswagen had developed a software "defeat device" that would reduce emissions during testing, but then switch off during regular driving, allowing the vehicles to emit harmful pollutants at levels far above legal limits. This was not only illegal, but also a breach of ethical standards that should have been caught by the company's internal controls. Unfortunately, those internal controls were weak, in part because of the way Volkswagen was organized. The company was controlled by a group of families and other stakeholders, who had more power than the shareholders, and who were reluctant to challenge management decisions. This created a culture of deference to the CEO, who in turn was focused on profits and market share above all else. Academic research has shown that the Volkswagen scandal is not unique, and that weak corporate governance can lead to a range of negative outcomes, from financial fraud to environmental damage. For example, studies by leading scholars such as Lucian Bebchuk and Jesse Fried have shown that companies with dual-class share structures, like Volkswagen, are more likely to engage in unethical behavior and less likely to respond to shareholder pressure. But there are also solutions. Research by Nell Minow and others has shown that independent directors, strong shareholder rights, and a commitment to ethical values can help prevent governance failures and improve corporate performance. By exploring these and other topics related to corporate governance, students can gain a deeper understanding of how companies operate, and how they can contribute to a more ethical and sustainable business world.

Cryptocurrency investors are at risk of gambling-related harms, with online gambling outlets accepting crypto wagers posing even greater threats. A new study by the University of Bristol and the University of East London highlights the lack of regulation, risk of fraud, and extreme price volatility as emerging crypto risks. The study explores the intersection of cryptocurrency investing and gambling, citing evidence that shows how crypto trading is associated with increased gambling activity and high-risk stock trading. Cryptocasinos present a double danger, allowing gamblers to bet on sophisticated online gambling products using volatile cryptocurrencies as the source of funds.

Have you ever wondered what goes on in the minds of judges as they make decisions in our legal system? In 'The Behavior of Federal Judges', a political scientist, an economist, and a judge team up to unravel the mystery of judicial decision-making. Through statistical analyses and a labor-market model, they reveal how judges are motivated by both financial and non-financial factors, and how ideology plays a role in decision-making at different levels of the federal judiciary. This book offers a fascinating insight into the complex world of judicial behavior, dispelling traditional legalist and political science theories. Join the authors on a journey to uncover the truth behind the robes." Recommended for law students, legal professionals, political scientists, and anyone interested in the workings of the American legal system. This book provides a unique perspective on judicial decision-making, using a labor-market model to explore the motivations of judges. It dispels traditional legalist and political science theories, highlighting the role of ideology in decision-making at different levels of the federal judiciary. This book is relevant to those interested in the intersection of law and economics, as well as those interested in understanding the complexities of the judicial system. It offers a fascinating insight into the minds of judges, and how they navigate the intricate web of legal and ideological factors that shape their decisions.