Anatomy of a Banking Scandal is popular PDF and ePub book, written by Robert Pasley in 2017-07-05, it is a fantastic choice for those who relish reading online the Social Science genre. Let's immerse ourselves in this engaging Social Science book by exploring the summary and details provided below. Remember, Anatomy of a Banking Scandal can be Read Online from any device for your convenience.
Anatomy of a Banking Scandal Book PDF Summary
In the early 1990s, the First National Bank of Keystone in West Virginia began buying and securitizing subprime mortgages from all over the country, and quickly grew from a tiny bank with just $100 million in assets to over $1.1 billion. For three years, it was listed as the most profitable large community bank in the country. It was all a fraud. All of the securitization deals the bank entered into lost money. To hide that fact, bank insiders started cooking the books, and concealing that they were also embezzling millions of dollars from the bank. This was all hidden from the bank's attorneys and auditors, federal bank examiners, and even the board of directors of the bank. To keep the examiners at bay, the bank insiders did everything possible to avoid giving them access to documents they were entitled to see, documents they knew would sink their scheme. The head of the bank even went so far as to bury four large truckloads of documents in a ditch on her ranch. Robert S. Pasley explores the failure of the First National Bank of Keystone, the intrigue involved, and the lessons that could have been learnedand still can be learnedabout how banks operate, how federal banking regulators supervise financial institutions, how agencies interact with one another, and how such failures can be avoided in the future.
Detail Book of Anatomy of a Banking Scandal PDF
- Author : Robert Pasley
- Release : 05 July 2017
- Publisher : Routledge
- ISBN : 9781351531795
- Genre : Social Science
- Total Page : 343 pages
- Language : English
- PDF File Size : 10,7 Mb
If you're still pondering over how to secure a PDF or EPUB version of the book Anatomy of a Banking Scandal by Robert Pasley, don't worry! All you have to do is click the 'Get Book' buttons below to kick off your Download or Read Online journey. Just a friendly reminder: we don't upload or host the files ourselves.