The State of New Jersey: The Pandora’s Box of Interest Rate Swaps Cost Nearly $1.5 Billion

A. Rashad Abdel-khalik

Chapter 9 in Brazen:Big Banks, Swap Mania and the Fallout, 2019, pp 171-177 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The following sections are included:Changing the LandscapeAccelerating LossesMore to the Story

Keywords: Swaps; Interest Rate Swap; Unconscionable Contracting; Termination Penalties; Embedded Costs; Paying for Nothing; Gambling; ISDA; Master Agreement; Deceit; Inadequate Disclosure; Hidden Costs; Zero Sum Game; Wealth Transfer; Paper Chasing Paper; Floating Rate; Synthetic Rate; Credit Risk; Demonstrations; Water Shut Off; Union Class Action Suit; The LIBOR Scandal; Non-Profit (search for similar items in EconPapers)
JEL-codes: E43 E44 (search for similar items in EconPapers)
Date: 2019
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