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Sense On Cents
Sense on Cents is a financial website and blog. It is authored and managed by Larry Doyle, a 23-year Wall Street veteran, and is found at www.senseoncents.com. Sense on Cents was launched in January 2009. With close to 1 million visitors in three plus years, Doyle's writing emphasizes investor education and protection with regard to the economy, markets, and finance. In the blog, Doyle covers an extensive array of topics and writes in a style which is understandable for those with little to no financial/market experience to graduate level professors. He has addressed at length the scam embedded in auction-rate securities. Doyle referred to the marketing and distribution by Wall Street of auction-rate securities as "the single greatest fraud ever perpetrated on investors". He has also raised questions about Wall Street's self-regulatory organization, the Financial Industry Regulatory Authority (FINRA), in the blog. Doyle's writing at ''Sense on Cents'' has led to his first boo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wall Street
Wall Street is an eight-block-long street in the Financial District of Lower Manhattan in New York City. It runs between Broadway in the west to South Street and the East River in the east. The term "Wall Street" has become a metonym for the financial markets of the United States as a whole, the American financial services industry, New York–based financial interests, or the Financial District itself. Anchored by Wall Street, New York has been described as the world's principal financial center. Wall Street was originally known in Dutch as "de Waalstraat" when it was part of New Amsterdam in the 17th century, though the origins of the name vary. An actual wall existed on the street from 1685 to 1699. During the 17th century, Wall Street was a slave trading marketplace and a securities trading site, and from the early eighteenth century (1703) the location of Federal Hall, New York's first city hall. In the early 19th century, both residences and businesses occupied the a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Auction-rate Securities
An auction rate security (ARS) typically refers to a debt instrument (corporate or municipal bonds) with a long-term nominal maturity for which the interest rate is regularly reset through a Dutch auction. Since February 2008, most such auctions have failed, and the auction market has been largely frozen. In late 2008, investment banks that had marketed and distributed auction rate securities agreed to repurchase most of them at par. Background The first auction rate security for the tax-exempt market was introduced by Goldman Sachs in 1988, a $121.4 million financing for Tucson Electric Company by the Industrial Development Authority of Pima County, Arizona. However, the security was invented by Ronald Gallatin at Lehman Brothers in 1984. Auctions are typically held every 7, 28, or 35 days; interest on these securities is paid at the end of each auction period. Certain types of daily auctioned ARSs have coupons paid on the first of every month. There are also other, more unus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Industry Regulatory Authority
The Financial Industry Regulatory Authority (FINRA) is a private American corporation that acts as a self-regulatory organization (SRO) that regulates member brokerage firms and exchange markets. FINRA is the successor to the National Association of Securities Dealers, Inc. (NASD) as well as the member regulation, enforcement, and arbitration operations of the New York Stock Exchange. The U.S. government agency that acts as the ultimate regulator of the U.S. securities industry, including FINRA, is the U.S. Securities and Exchange Commission (SEC). Overview The Financial Industry Regulatory Authority is the largest independent regulator for all securities firms doing business in the United States. FINRA's mission is to protect investors by making sure the United States securities industry operates fairly and honestly. In December 2019, FINRA oversaw 3,517 brokerage firms, 153,907 branch offices and approximately 624,674 registered securities representatives. FINRA has appr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Palgrave Macmillan
Palgrave Macmillan is a British academic and trade publishing company headquartered in the London Borough of Camden. Its programme includes textbooks, journals, monographs, professional and reference works in print and online. It maintains offices in London, New York, Shanghai, Melbourne, Sydney, Hong Kong, Delhi, and Johannesburg. Palgrave Macmillan was created in 2000 when St. Martin's Press in the US united with Macmillan Publishers in the UK to combine their worldwide academic publishing operations. The company was known simply as Palgrave until 2002, but has since been known as Palgrave Macmillan. It is a subsidiary of Springer Nature. Until 2015, it was part of the Macmillan Group and therefore wholly owned by the German publishing company Holtzbrinck Publishing Group (which still owns a controlling interest in Springer Nature). As part of Macmillan, it was headquartered at the Macmillan campus in Kings Cross London with other Macmillan companies including Pan Macmil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
First Boston
: ''For the company after its acquisition by Credit Suisse, see Credit Suisse First Boston (known as CSFB and CS First Boston)'' The First Boston Corporation was a New York-based bulge bracket investment bank, founded in 1932 and acquired by Credit Suisse in 1988. After the acquisition, it operated as an independent investment bank known as CS First Boston until 2006, when the company was fully integrated into Credit Suisse. In 2022, Credit Suisse revived the "First Boston" brand as part of an effort to spin out the business. History Founding The First Boston Corporation was created in 1932 as the investment banking arm of the First National Bank of Boston. It became an independent firm after passage of the Glass–Steagall Act, which required commercial banks to divest securities businesses in the wake of the 1929 stock market crash. First National Bank of Boston continued as a commercial bank, ultimately becoming part of Bank of America. The young First Boston investment b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mortgage-backed Securities
A mortgage-backed security (MBS) is a type of asset-backed security (an 'instrument') which is secured by a mortgage or collection of mortgages. The mortgages are aggregated and sold to a group of individuals (a government agency or investment bank) that securitizes, or packages, the loans together into a security that investors can buy. Bonds securitizing mortgages are usually treated as a separate class, termed residential; another class is commercial, depending on whether the underlying asset is mortgages owned by borrowers or assets for commercial purposes ranging from office space to multi-dwelling buildings. The structure of the MBS may be known as "pass-through", where the interest and principal payments from the borrower or homebuyer pass through it to the MBS holder, or it may be more complex, made up of a pool of other MBSs. Other types of MBS include collateralized mortgage obligations (CMOs, often structured as real estate mortgage investment conduits) and collateral ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bear Stearns
The Bear Stearns Companies, Inc. was a New York-based global investment bank, securities trading and brokerage firm that failed in 2008 as part of the global financial crisis and recession, and was subsequently sold to JPMorgan Chase. The company's main business areas before its failure were capital markets, investment banking, wealth management, and global clearing services, and it was heavily involved in the subprime mortgage crisis. In the years leading up to the failure, Bear Stearns was heavily involved in securitization and issued large amounts of asset-backed securities which were, in the case of mortgages, pioneered by Lewis Ranieri, "the father of mortgage securities". As investor losses mounted in those markets in 2006 and 2007, the company actually increased its exposure, especially to the mortgage-backed assets that were central to the subprime mortgage crisis. In March 2008, the Federal Reserve Bank of New York provided an emergency loan to try to avert a sudden co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Union Bank Of Switzerland
Union Bank of Switzerland (UBS) was a Swiss Investment banking, investment bank and financial services company located in Switzerland. The bank, which at the time was the second largest bank in Switzerland, merged with Swiss Bank Corporation in 1998, to become UBS to form what was then the largest bank in Europe and the second largest bank in the World. UBS was formed in 1912 through the merger of the Bank in Winterthur and Toggenburger Bank, both founded in the early 1860s. UBS then continued to grow through acquisitions, including Aargauische Kreditanstalt in 1919, Eidgenössische Bank in 1945, Interhandel, Interhandel Basel in 1967, Phillips & Drew in 1986, and Schröder, Münchmeyer, Hengst & Co. in 1997 among others. The historical UBS logo comprises the initials "UBS" horizontally, referring to the "Union Bank of Switzerland", "Union de Banques Suisses" or "Unione di Banche Svizzere", crossed by vertical "SBG", referring to the name of the bank in German "Schweizerische B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of America
The Bank of America Corporation (often abbreviated BofA or BoA) is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina. The bank was founded in San Francisco. It is the second-largest banking institution in the United States, after JPMorgan Chase, and the second largest bank in the world by market capitalization. Bank of America is one of the Big Four banking institutions of the United States. It serves approximately 10.73% of all American bank deposits, in direct competition with JPMorgan Chase, Citigroup, and Wells Fargo. Its primary financial services revolve around commercial banking, wealth management, and investment banking. One branch of its history stretches back to the U.S.-based Bank of Italy, founded by Amadeo Pietro Giannini in 1904, which provided various banking options to Italian immigrants who faced service discrimination. Originally headquartered ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
JP Morgan Chase
JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City and incorporated in Delaware. As of 2022, JPMorgan Chase is the largest bank in the United States, the world's largest bank by market capitalization, and the fifth largest bank in the world in terms of total assets, with total assets of US$3.774 trillion. Additionally, JPMorgan Chase is ranked 24th on the Fortune 500 list of the largest United States corporations by total revenue. It is considered a systemically important bank by the Financial Stability Board. As a " Bulge Bracket" bank, it is a major provider of various investment banking and financial services. It is one of America's Big Four banks, along with Bank of America, Citigroup, and Wells Fargo. JPMorgan Chase is considered to be a universal bank and a custodian bank. The J.P. Morgan brand is used by the investment banking, asset management, private banking, wealth management, co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Finance Websites
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize volatility. Financial analysis is viability, stability, and profitability assessmen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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