Barings: The Crashing of a Venerable Bank

Dimitris N. Chorafas

Chapter 9 in Business Efficiency and Ethics, 2015, pp 181-201 from Palgrave Macmillan

Abstract: Abstract The most depressing thing about the crushing of Barings is that while the bank’s derivatives exposure had reached for the stars its top management believed that it had finally discovered a risk-free way of making profits. The bank assumed more and more exposure to options and other derivative financial instruments, while the evaluation of assumed risk was fuzzy or nonexistent. Toxic waste was interpreted as a sound investment and a secure good fortune—till all hell broke loose.

Keywords: Senior Management; Investment Bank; Kobe Earthquake; Banking Supervision; Back Office (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-48425-3_9

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DOI: 10.1057/9781137484253_9

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