Finance and Banking Are Time and Motion Machines

Dimitris N. Chorafas

Chapter 2 in Basel III, the Devil and Global Banking, 2012, pp 19-39 from Palgrave Macmillan

Abstract: 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.

Keywords: Hedge Fund; Financial Instrument; Leverage Ratio; Financial Account Standard Board; Basel Committee (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-0-230-35842-3_2

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DOI: 10.1057/9780230358423_2

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