{"product_id":"fraud-in-the-markets-isbn-9780470507896","title":"Fraud in the Markets","description":"\u003cb\u003eA dramatic look at fraud's role in our financial markets-and how you can protect yourself\u003c\/b\u003e  \u003cp\u003e\u003ci\u003eFraud In the Markets\u003c\/i\u003e reveals the critical role fraud played in the global financial crisis-even as many of the perpetrators continue to go unpunished. Shedding light on the reckless conduct of the former senior executives at major Wall Street firms such as Lehman Brothers, Bear Stearns, Merrill Lynch and others just before their collapse, this timely book shows how the culture of \"anything goes\" on Wall Street fueled the innovation of exotic but deadly asset-backed securities.\u003c\/p\u003e \u003cp\u003eA frank insider look at the most dramatic economic and business headlines in recent memory, you will find revealing discussion of\u003cbr\u003e \u003c\/p\u003e \u003cul\u003e \u003cli\u003eThe egregiously fraudulent lending practices that engulfed the entire US mortgage industry\u003c\/li\u003e \u003cli\u003eThe brazenly deceptive marketing of asset-backed securities\u003c\/li\u003e \u003cli\u003eA road map to prevent similar disasters from recurring\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003e\u003ci\u003eFraud in the Markets\u003c\/i\u003e offers forward-looking advice, with practical guidelines for protecting yourself and your company from various forms of fraud that were found to have played a role in the current economic and financial crisis.\u003c\/p\u003e  Preface.  \u003cp\u003eAcknowledgments.\u003c\/p\u003e \u003cp\u003eIntroduction: A Brief History of Fraud in Financial Markets.\u003c\/p\u003e \u003cp\u003eBanking Fraud in the Early Days.\u003c\/p\u003e \u003cp\u003eMarket-Building by Morgan.\u003c\/p\u003e \u003cp\u003eFlim Flam Finance.\u003c\/p\u003e \u003cp\u003eSavings and Loan Fraud Follies.\u003c\/p\u003e \u003cp\u003eBeginning of the End.\u003c\/p\u003e \u003cp\u003eAsset-Backed Securities.\u003c\/p\u003e \u003cp\u003eOff to the Races.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 The Fraud Culture.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eI Wanna Be Rich.\u003c\/p\u003e \u003cp\u003eThe Spread of Ethical Erosion.\u003c\/p\u003e \u003cp\u003eWhat It All Means.\u003c\/p\u003e \u003cp\u003eHow We Got Here.\u003c\/p\u003e \u003cp\u003eThe Evolving Shapes of Fraud: Pressure, Opportunity, and Rationalization on Wall Street.\u003c\/p\u003e \u003cp\u003eAn Triangle or a Diamond?\u003c\/p\u003e \u003cp\u003eA Fraud Pentagon? \u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 The Politics of Banking Fraud.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePolitics and Regulation.\u003c\/p\u003e \u003cp\u003eAntebellum Banking.\u003c\/p\u003e \u003cp\u003eEarly Due Diligence.\u003c\/p\u003e \u003cp\u003eCentral Banking: The Drive Is Revived.\u003c\/p\u003e \u003cp\u003eEnter the ABA.\u003c\/p\u003e \u003cp\u003eThe Warburg Factor.\u003c\/p\u003e \u003cp\u003eFinancial Regulation Today.\u003c\/p\u003e \u003cp\u003eWhat If?\u003c\/p\u003e \u003cp\u003eIs Regulation Here to Stay?\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Modern Day Financial Services Fraud (1980-2010).\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Fraud Culture and Today's Frauds.\u003c\/p\u003e \u003cp\u003eThe “Milken\/Boesky” Era.\u003c\/p\u003e \u003cp\u003eFancy Financing Foments More Fraud.\u003c\/p\u003e \u003cp\u003eThe Ignominious Birth of “Pay for Performance”.\u003c\/p\u003e \u003cp\u003eRisky...Riskier...\u003c\/p\u003e \u003cp\u003eA Deluge of Derivatives.\u003c\/p\u003e \u003cp\u003eThe Good Side of CDSs.\u003c\/p\u003e \u003cp\u003eShortening Memories.\u003c\/p\u003e \u003cp\u003eEnron et al.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Reform, Re-Regulation, and the Persistence of Fraud.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBetter Anti-Fraud Controls.\u003c\/p\u003e \u003cp\u003eBeyond Financial Reporting Fraud.\u003c\/p\u003e \u003cp\u003eRegulation and Legislation.\u003c\/p\u003e \u003cp\u003eMore Aggressive Action Needed.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 The Real Estate Bubble and Bust: The Fraud Factor.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHow Did It Get So Bad?\u003c\/p\u003e \u003cp\u003eSubprime Mortgages: Licenses to Steal.\u003c\/p\u003e \u003cp\u003eWho Is Subprime?\u003c\/p\u003e \u003cp\u003eGoing for Broke(r).\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 The Makings of a Meltdown.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOther Fraud-for-Profit Schemes.\u003c\/p\u003e \u003cp\u003eGreed Grows and Fraud Follows.\u003c\/p\u003e \u003cp\u003eFraud for Property Schemes.\u003c\/p\u003e \u003cp\u003eThe Role (or Not) of Predatory Lending.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 Beginning of the End: Death by Derivatives.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePlaying with Fire.\u003c\/p\u003e \u003cp\u003eChaos Out of Order.\u003c\/p\u003e \u003cp\u003eAnatomy of a Subprime Deal.\u003c\/p\u003e \u003cp\u003eThe Fine Art of Corporate Deception.\u003c\/p\u003e \u003cp\u003eBankers Go with the Flow—Into the Tank.\u003c\/p\u003e \u003cp\u003eHard Money.\u003c\/p\u003e \u003cp\u003eAnd Then There's AIG.\u003c\/p\u003e \u003cp\u003eHow “Toxic” Securities Ended Up in So Many Investor Portfolios.\u003c\/p\u003e \u003cp\u003eRating Agency Deception Redux.\u003c\/p\u003e \u003cp\u003eAnd So, The End Begins.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Can the Circle be Broken?\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSo What Now?\u003c\/p\u003e \u003cp\u003eCritical Reform Issues.\u003c\/p\u003e \u003cp\u003ePolicing, Policy, and Propriety.\u003c\/p\u003e \u003cp\u003eAbout the Author.\u003c\/p\u003e \u003cp\u003eIndex.\u003c\/p\u003e \"A dramatic look at fraud's role in our financial markets-and how you can protect yourself. \u003ci\u003eFraud in the Markets\u003c\/i\u003e reveals the critical role fraud played in the global financial crisis-even as many of the perpetrators continue to go unpunished. Shedding light on the reckless conduct of the former senior executives at major Wall Street firms such as Lehman Brothers, Bear Stearns, Merrill Lynch and others just before their collapse, this timely book shows how the culture of \"anything goes\" on Wall Street fueled the innovation of exotic but deadly asset-backed securities.\" (\u003ci\u003eAccountingWEB.com\u003c\/i\u003e, March 19, 2010) \u003cb\u003ePeter D. Goldmann\u003c\/b\u003e is founder and President of White-Collar Crime 101 LLC, the parent company of FraudAware and publisher of the monthly newsletter, \u003ci\u003eWhite-Collar Crime Fighter\u003c\/i\u003e. Peter has been the Publisher and Editor of \u003ci\u003eWhite-Collar Crime Fighter\u003c\/i\u003e for over twelve years and is recognized as a leading expert in the areas of fraud detection, prevention, investigation, and training. He has written numerous articles on practical approaches to fraud prevention and detection for, among others, \u003ci\u003eInternal Auditor, Investor's Business Daily, the Fraud Examiner\u003c\/i\u003e and \u003ci\u003eBottom Line\/Personal\u003c\/i\u003e. He speaks¿at events sponsored by the Association of Certified Fraud Examiners, the International Association of Financial Crimes Investigators, and numerous industry trade associations. He is also a member of the Editorial Advisory Board of the Association of Certified Fraud Examiners.  The subprime mania that swept the home mortgage and securities markets circa 2002–2003 was the last straw for the U.S. financial system as we knew it from the early years of the twentieth century. Starting with the establishment of central banking in 1913, the American economy has toughed out several recessions, including the devastating years of the Great Depression.  \u003cp\u003eAnd then came the Great Crash of 2008.\u003c\/p\u003e \u003cp\u003eIt is no coincidence that the financial services industry was the breeding ground for the deadly forces that brought on the financial crash and its aftershocks. It is also no surprise that fraud played a starring role in the emergence of these dark chapters in American financial history.\u003c\/p\u003e \u003cp\u003eOffering a complete perspective on the complicated and sobering impact of fraud in pushing the world's preeminent financial system to disaster on many occasions, \u003ci\u003eFraud in the Markets: Why It Happens and How to Fight It reveals\u003c\/i\u003e:\u003c\/p\u003e \u003cul\u003e \u003cli\u003e \u003cp\u003eThe genesis of the culture of \"anything goes\" on Wall Street that fueled the innovation of super-risky asset-backed securities and the financial devastation suffered by institutions that invested in them\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eThe egregiously fraudulent lending practices that engulfed the entire U.S. mortgage industry\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eThe reckless and legally questionable conduct of the captains of Lehman Brothers, Countrywide, Washington Mutual, and other major financial firms just before their collapse\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eThe best and brightest ideas for preventing similar disasters from recurring\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003ePractical guidelines for protecting your investments and your company from various forms of fraud and deception\u003c\/p\u003e \u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eWhat really matters is not so much who to blame for the subprime crisis and its related financial failures, but \u003ci\u003ehow\u003c\/i\u003e this perfect storm happened. Written by a nationally recognized expert in the field of fraud detection and prevention, \u003ci\u003eFraud in the Markets\u003c\/i\u003e shows you what you can do to protect your investments and your company from devastating financial market fraud, corruption, and deception.\u003c\/p\u003e  \u003cb\u003ePraise for Fraud Markets\u003c\/b\u003e  \u003cp\u003e\"Peter Goldmann has written a fascinating book on the financial markets and the devastating impact of fraud and ethical erosion. His historical commentary is reason enough to read this book. But Goldmann really shines when he puts his unique perspective on the causative factors of the worst financial crisis since the Great Depression.\"\u003cbr\u003e —\u003cb\u003eMartin T. Biegelman\u003c\/b\u003e, Director of Financial Integrity, Microsoft Corporation\u003c\/p\u003e \u003cp\u003e\"The financial crises that began in 2007 had a devastating impact on the U.S. economy that was felt around the world. Peter Goldmann leads us through this crisis and explains the role that financial fraud played in the tragedy. Goldmann's book is instrumental in helping us understand the devastation fraud can cause when it goes unchecked. We can only hope that by examining the mistakes we made, we will not be doomed to repeat them. This book provides a strong starting point for that introspection.\"\u003cbr\u003e —\u003cb\u003eJohn D. Gill\u003c\/b\u003e, JD, CFE, Vice President of Education, Association of Certified Fraud Examiners\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989242659045,"sku":"NP9780470507896","price":39.95,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470507896.jpg?v=1761783346","url":"https:\/\/k12savings.com\/products\/fraud-in-the-markets-isbn-9780470507896","provider":"K12savings","version":"1.0","type":"link"}