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A Permanent CrisisCharacteristics of Casino Finance

A Permanent Crisis: Characteristics of Casino Finance [This chapter highlights the contradictions between the financial sector’s objectives and the entrepreneurial spirit. Salient features of casino finance are identified: big banks and hedge funds often bet with money that does not belong to them, but rather to taxpayers, pensioners, clients and shareholders. Marc Chesney analyses the financial sector’s problematic modus operandi and the complex products it issues and reveals the dangers represented by oversized off-balance sheet activities.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

A Permanent CrisisCharacteristics of Casino Finance

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Publisher
Springer International Publishing
Copyright
© The Editor(s) (if applicable) and The Author(s), under exclusive licence to Springer Nature Switzerland AG 2018
ISBN
978-3-030-00517-7
Pages
53 –77
DOI
10.1007/978-3-030-00518-4_4
Publisher site
See Chapter on Publisher Site

Abstract

[This chapter highlights the contradictions between the financial sector’s objectives and the entrepreneurial spirit. Salient features of casino finance are identified: big banks and hedge funds often bet with money that does not belong to them, but rather to taxpayers, pensioners, clients and shareholders. Marc Chesney analyses the financial sector’s problematic modus operandi and the complex products it issues and reveals the dangers represented by oversized off-balance sheet activities.]

Published: Oct 2, 2018

Keywords: Casino finance; Liar’s poker; High-frequency trading; Plutocracy; Bad banks

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