Some want to save or change the world. Some want the power, prestige and money they believe comes with a law degree.
Why did the U. Both of the financial services companies were large and traced their financial woes to excesses in subprime housing mortgage financing. An economist, Antoncic later worked at the World Bank as vice president and treasurer, and is currently on the board of governors at Weill Cornell Medicine.
But she decided to break her silence when a recent Wall Street Journal article suggested that AIG was bailed out and Lehman was left to die because of politics and personality issues, not hard-nosed business and economic wisdom.
However, AIG was bailed out not purely because of its size, according to Antoncic.
All of these banks would have had enormous regulatory capital problems. It would have been an extremely systemic macro event.
The company wriggled out of that mess after persuading investors to provide some relief. But the red flag was clearly there: But the company wanted to fix those problems, which became her responsibility. Soon thereafter, Antoncic created a comprehensive risk framework with a risk equity model, and hired people to staff the function.
Meanwhile, the market environment deteriorated, which forced Korean Development Bank to keep reducing its offer price. She did not think hubris was a cultural phenomenon among Wall Street firms at the time, but was more of a characteristic in certain individuals.
Why No Criminal Prosecutions?
Antoncic also pointed to other areas of concern. Banks today have more capital than they did before the last crisis, and are more cautious in lending.
Antoncic, however, is concerned about the state of U. Another potential red flag is that shadow banking is behind much of the leveraged lending these days. Such lending is typically covenant light. Covenants are helpful as early warning indicators if a company gets into trouble, she noted.Everybody’s always talking about why you should join the military, so I decided to give you five reasons you shouldn’t join.
Here they are in random order.
1. You want an education and have at.
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