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Barings: The Crashing of a Venerable Bank

In: Business Efficiency and Ethics

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  • Dimitris N. Chorafas

Abstract

The most depressing thing about the crushing of Barings is that while the bank’s derivatives exposure had reached for the stars its top management believed that it had finally discovered a risk-free way of making profits. The bank assumed more and more exposure to options and other derivative financial instruments, while the evaluation of assumed risk was fuzzy or nonexistent. Toxic waste was interpreted as a sound investment and a secure good fortune—till all hell broke loose.

Suggested Citation

  • Dimitris N. Chorafas, 2015. "Barings: The Crashing of a Venerable Bank," Palgrave Macmillan Books, in: Business Efficiency and Ethics, chapter 9, pages 181-201, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-48425-3_9
    DOI: 10.1057/9781137484253_9
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