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Brazen:Big Banks, Swap Mania and the Fallout

Author

Listed:
  • A Rashad Abdel-khalik

    (University of Illinois at Urbana-Champaign, USA)

Abstract

For nearly two decades, countless non-profits in the U.S. were forced to pay big banks enormous sums of money to settle or terminate bilateral contracts known as Interest Rate Swaps (IRSs). Officials at non-profits had entered into these costly contracts unaware that each contract has only one winner, and that big banks did not intend to be the losers.

Individual chapters are listed in the "Chapters" tab

Suggested Citation

  • A Rashad Abdel-khalik, 2019. "Brazen:Big Banks, Swap Mania and the Fallout," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number 11136, August.
    • Handle: RePEc:wsi:wsbook:11136
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    File URL: https://www.worldscientific.com/worldscibooks/10.1142/11136
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    Keywords

    Swaps; Interest Rate Swap; Unconscionable Contracting; Termination Penalties; Embedded Costs; Paying for Nothing; Gambling; ISDA; Master Agreement; Deceit; Inadequate Disclosure; Hidden Costs; Zero Sum Game; Wealth Transfer; Paper Chasing Paper; Floating Rate; Synthetic Rate; Credit Risk; Demonstrations; Water Shut Off; Union Class Action Suit; The LIBOR Scandal; Non-Profit;
    All these keywords.

    JEL classification:

    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy

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