Abstract
Finance and banking are perpetual motion machines based on virtual rather than real assets and, more recently, on a rapidly growing mountain of debt. They sustain their perpetual motion by being inventive and marketing-oriented, creating business opportunities on a local, national and global scale, taking risks and facing headwinds that have the potential to destabilize the whole financial system.
This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsPreview
Unable to display preview. Download preview PDF.
Notes
D. N. Chorafas, Economic Capital Allocation with Basel II: Cost and Benefit Analysis, Butterworth-Heinemann, London/Boston MA, 2004;
and D. N. Chorafas, Operational Risk Control with Basle II: Basic Principles and Capital Requirements, Butterworth-Heinemann, London/Boston, MA, 2004.
William Greider, Secrets of the Temple, Touchstone/Simon & Schuster, New York, 1987.
D. N. Chorafas, Managing Risk in the New Economy, New York Institute of Finance, New York, 2001.
D. N. Chorafas, Risk Pricing, Harriman House, London, 2016.
Jean-Pierre Soisson, Charles Quint, Grasset, Paris, 2000.
John Lanchester, IOU: Why Everyone Owes and No One Can Pay, Simon & Schuster, New York. 2010.
In a derivative financial instrument the underlying may be a specified commodity price, share price, interest rate, currency exchange rate, index of prices, or something else properly identified by the transaction. Typically, though not always, the relationship prevailing between the underlying and the derivative is not linear (see D. N. Chorafas, Derivative Financial Instruments, McGraw-Hill, New York, 2008).
D. N. Chorafas, Financial Boom and Gloom: The Credit and Banking Crisis of 2007–2009 and Beyond, Palgrave Macmillan, Basingstoke, 2009.
Nathan Miller, F.D.R., New American Library, New York, 1983.
D. N. Chorafas, Sovereign Debt Crisis and the New Normal, Palgrave Macmillan, Basingstoke, 2011.
Copyright information
© 2012 Dimitris N. Chorafas
About this chapter
Cite this chapter
Chorafas, D.N. (2012). Finance and Banking Are Time and Motion Machines. In: Basel III, the Devil and Global Banking. Palgrave Macmillan Studies in Banking and Financial Institutions. Palgrave Macmillan, London. https://doi.org/10.1057/9780230358423_2
Download citation
DOI: https://doi.org/10.1057/9780230358423_2
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-34610-3
Online ISBN: 978-0-230-35842-3
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)