Brazen : big banks, swap mania and the fallout
A. Rashad Abdel-Khalik
- Singapore ; World Scientific Publishing Co. Pte. Ltd., c2019.
- xxvii, 523 p. : ill. ; 24 cm.
Following the 2008 Financial Crisis, news broke that big banks in the US were collecting hundreds of billions of dollars from non-profit parties. These enormous sums represented annual settlement and termination payments for bilateral contracts known as Interest Rate Swaps (IRSs). Starting in the late 1990s, big banks targeted non-profits for massive sales of all types of such contracts. Non-profits ended up being perennial losers, eventually owing enormous sums of money to the banks for nothing received. --
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Banks and banking--Moral and ethical aspects--United States Nonprofit organizations--Finance--United States Swaps (Finance)--United States Public welfare--United States Banks and banking--Moral and ethical aspects Nonprofit organizations--Finance Public welfare Swaps (Finance)