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Something for nothing : arbitrage and ethics on Wall Street by Maureen O'Hara is a nonfiction available to read on EtoBox.

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From a leading financial economist, a searching examination of the ethics of modern finance. In 2001, Goldman Sachs structured a complex financial contract so that its client, the government of Greece, would appear to have far less debt than it actually did. When news of this transaction came out years later, the inevitable question arose: Even though Goldman’s actions were legal, were they ethically wrong? Is modern finance itself inherently unethical? In Something for Nothing, financial economist Maureen O’Hara explains that one of the key innovations of modern finance is its reliance on arbitrage, the practice of taking advantage of a price difference between two or more markets to generate profits and remove inefficiencies. When done correctly, arbitrage can create value at little or no cost (in effect, getting “something for nothing”); but it can also be an exploitative tool. In a lucid, insightful discussion of the ethics of arbitrage in modern finance, O’Hara reveals how the rules can often be stretched into still-legal yet highly unethical business practices. Examining key cases in clear and persuasive prose, O’Hara illuminates various aspects of financial ethics, from the

Who reads Something for nothing : arbitrage and ethics on Wall Street?

Author

Maureen O'Hara

Publisher

W. W. Norton & Company, Incorporated

Published

2016

Language

EN

ISBN

9780393285529

Category

nonfiction

Subjects

Finance, Business, Investing