Infectious Greed

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Infectious Greed Page 61

by Frank Partnoy


  Glisan, Ben

  Global Capital Investment LLC

  Global Crossing

  Global Derivatives Study Group of the Group of Thirty

  Goekjian, Chris

  Goldman Sachs

  Gonzales, Henry

  “Good Derivatives Do, The”

  Goodwill, accounting for

  Gorton, James

  GoTo.com

  Grabbe, J. Orlin

  Gramm, Phil

  Gramm, Wendy

  Grant, James

  Grass, Martin L.

  Greenbaum, Michael D.

  Greenberg, Maurice “Ace”

  Greenspan, Alan

  on anti-fraud rules

  credit derivatives and

  “infectious greed” testimony about

  “irrational exuberance” speech

  Long-Term Capital Management bailout and

  See also Federal Reserve Board

  Gross, Bill

  Groves, Ray J.

  Grubman, Jack

  Global Crossing and

  WorldCom and

  Grubman, Richard

  Grundfest, Joseph

  Grunwald, Michael

  “Guinness Case”

  Gutfreund, John

  lack of control over aggressive employees

  Haghani, Victor

  Hamanaka, Yasuo

  Hammersmith & Fulham

  Harrison, Alfred

  Harrison, Ken L.

  Harvard Business School

  Hawkins, Gregory

  Hayes, Samuel

  Health Management

  Hedge funds

  See also specific funds

  Hedging versus speculation

  Heisler, Ethan M.

  Heller, Warren

  Heterogeneous expectations theory

  Heyman, William

  HFS International

  Hilibrand, Lawrence

  Hills, Roderick

  Hindery, Leo, Jr.

  Home Theater Products International

  Hostile takeovers

  Houston Natural Gas

  “How Bankers Trust Lied About $80 Million”

  How to Make Your Money Make Money (Levitt)

  Hu, Henry T. C.

  Hudson, Kevin

  Huizenga, Peter

  Huizenga, Wayne

  Hungary

  IBM, structured notes and

  Icahn, Carl

  Ideon Group, Inc.

  Iguchi, Toshihide

  Implied volatilities

  In Search of Excess (Crystal)

  Indah Kiat

  Indefeasible Rights of Use swaps (IRUs) swaps

  Indocement Tunggal Prakasa

  Indonesia

  Inflation

  InfoSpace

  Initial Public Offerings. See IPOs (Initial Public Offerings)

  Insider trading

  Institutional Investor

  Insurance companies

  credit derivatives and

  shifting risks to

  Interest-rate swaps

  “plain vanilla”

  Interest rates

  betting on the direction of

  raising of short-term

  Internal Revenue Service (IRS)

  International financial crises

  bailouts

  cross-border risks

  derivatives and

  lack of regulation and

  International Monetary Fund (IMF)

  International Nederlanden Groep (ING)

  International Swap Dealers Association (ISDA)

  Brickell and

  Internet

  securities analysts and

  See also IPOs (Initial Public Offerings)

  InterNorth

  Interwoven, Inc.

  Intraware

  Investment banks

  conflicts of interest

  derivative subsidiaries

  Glass-Steagall Act and

  insulation from private lawsuits

  IPOs and undisclosed kickbacks to

  subsidiaries of commercial banks

  See also individual banks; Securities analysts

  Investment Dealers’ Digest

  Investor recommendations

  IPOs (Initial Public Offerings)

  client fees for

  lock up restrictions

  pricing of

  undisclosed kickbacks to investment banks

  IRUs (Indefeasible Rights of Use swaps)

  ISDA (International Swap Dealers Association)

  Italy

  J. P. Morgan

  J. P. Morgan Chase

  Jackson, Peter

  Jaedicke, Robert K.

  Japanese banks, swaps used by

  Japanese convertible bond market

  Japanese insurance companies

  Japanese regulators

  JEDI (Joint Energy Development-Investments Limited Partnership)

  Jefferson Smurfit

  Jett, Orlando Joseph

  Johnsen, Jim

  Johnson, Edward C.

  Jonas, Stan

  Junk bonds

  Collateralized Bond Obligations (CBOs)

  Justice Department, U.S.

  Kahneman, Daniel

  Kaplan, Clifford

  Kashima Oil

  Keker, John W.

  Kennedy, Justice Anthony

  Kerr-McGee

  Keynes, John Maynard

  Kharmala group

  Kickbacks to investment banks, IPOs and

  Kidder Peabody

  Collateralized Mortgage Obligations (CMOs) sold by

  Jett and

  money-market funds

  Kindleberger, Charles P.

  Kingdon, Bruce J.

  Kitchen, Louise

  Kleinwort Benson

  Kmart

  Knight, Phil

  Knock-out option

  Kopper, Michael

  Korea, Republic of

  Korus, David

  Kozlowski. Dennis

  KPMG

  Kramer, Howard

  Krieger, Andy

  at Bankers Trust

  misdirection strategy

  Krugman, Paul

  LaFalce, John

  Lane Drug

  Lavin, Jack

  Lavorato, John

  Law of One Price

  Lawler, Edward

  Lay, Kenneth

  Leach, Jim

  Leeson, Nick

  Legere, John J.

  Lehman Brothers

  Lerach, Bill

  Lernout & Hauspie

  Leval, Judge Pierre

  Leverage

  Leveraged buyouts

  Levin, Carl

  Levitt, Arthur, Jr.

  accounting for stock options, position on

  background of

  confirmation hearings

  nomination as SEC chairman

  SEC and

  “The Numbers Game” speech

  Levy, Leon

  Lewis, Michael

  Lieberman, Joseph

  Liebowitz, Michael

  Lindsey, Richard

  Livent

  LivePerson

  LJM and LJM2 (Enron partnerships)

  Long, Perrin

  Long-Term Capital Management (LTCM)

  bailout of

  collapse of

  convergence trades

  directional trades

  emerging markets and

  relative-value trades

  takeovers, betting of

  Value-at-Risk computer models

  Loomis, Carol

  Los Angeles Business Journal

  Los Angeles Times

  Lowenstein, Roger

  Lucent

  Lux, Hal

  Lynch, Gary

  Lynch, Peter

  MacArthur Foundation, John D. and Catherine T.

  Macey, Jonathan

  Mack, Connie

  Mack, John

  Mackay, Charles

  Madoff, Bernard L.

  Madrick
Jeff

  Mahoney, James M.

  Mahonia

  Mains, Raymond

  Malaysia

  Malkiel, Burton

  Marcos family

  Margin calls

  Mark, Rebecca

  Markey, Edward

  Markham, Jerry W.

  Marking to market

  FASB proposal for derivative contracts

  Martignoni, James

  Mastroeni, Thomas

  Mattel

  Max Phillips & Son

  Mayer, Martin

  McAuliffe, Terry

  McConnell, Mike

  McGrath, Matt

  McGraw-Hill Companies

  MCI Communications

  McKesson HBOC

  McLucas, William

  McMahon, Jeffrey

  MCN Energy Group Inc.

  MCN Financing III

  McTeer, Robert

  Mead Corporation

  Meeker, Mary

  Mello, Antonio

  Memoirs of Extraordinary Popular Delusions and the Madness of Crowds (Mackay)

  Mendelsohn, John

  Mercury Asset Management

  Mergers and acquisitions

  merger reserves, manipulation of expense for

  Meriwether, John

  Arbitrage Group

  Long-Term Capital Management and

  Mozer’s trading activities and

  Merrill Lynch

  FELINE PRIDES

  mortgage bond losses

  PRIDES

  securities analysts at

  structured notes sold to Orange County

  Merton, Robert

  Metallgesellschaft

  Mexican peso

  Michels, Antony

  Microsoft

  Microsoft Excel

  MicroStrategy Inc.

  Milberg Weiss

  Milken, Michael

  Miller, Merton

  Miniscripe

  MIPS

  Missner, Gary

  Money-market funds

  Moneyline

  Moody, John

  Moody’s Investment Services

  See also Credit-rating agencies

  Moorlach, John

  Moral hazard

  Mordaunt, Kristina

  Morgan Guaranty Trust

  Morgan Stanley

  PERCS and

  Morgenson, Gretchen

  Morningstar

  Mortgage bonds

  interest-rate risk of

  negative convexity of

  tranches

  See also Collateralized Mortgage Obligations (CMOs)

  Mozer, Paul

  bonuses at Salomon Brothers and

  tax-avoidance trades for Salomon Brothers

  Treasury-bond auctions and

  MP3.com

  Mriant

  Muehlemann, Lukas

  Mullin, Melvin

  Mullins, David W.

  Mullins, David W., Jr.

  Murphy, Kevin J.

  Mutual funds

  compensation of fund managers

  derivatives investments

  East Asian markets, investment in

  financial sophistication of managers of

  investing and

  Orange County, California bonds and

  peso-linked derivatives and

  See also specific funds

  Myers, David

  Nacchio, Joseph

  Nacional Financiera

  NASDAQ

  Nash, Jack

  National Association of Securities Dealers (NASD)

  National Westminster Bank

  NationsBank

  NationsSecurities, Term Trusts and

  Navigant

  Negative tips

  Netherlands

  Netmarket.com

  Netscape

  New-deal profit

  New York Federal Reserve Bank

  New York magazine

  New York Mercantile Exchange

  New York Review of Books

  New York Stock Exchange

  New York Times

  New Yorker, The

  New Zealand

  Newman, Frank N.

  NewPower Holdings

  Nicholas, Nicholas J., Jr.

  Niederhoffer, Victor

  1980s

  Nitec Paper Corporation

  Nixon, Richard M.

  Non-recourse financing

  Noonan, Timothy

  North, Oliver

  Notational value

  Novell

  Nuclear waste (Wall Street term)

  Nutrition 21, Inc.

  O’Conner, William

  O’Conner & Associates

  Off-balance sheet transactions

  1992 speech expressing concern about

  Enron and

  Special Purpose Entities (SPEs) and

  swaps

  Offshore activities, corporate

  Ohio Pharmacy Board

  Olofson, Roy

  Omega Partners

  On-the-run/off-the-run Treasury bond trade

  O’Neill, Paul

  Ong, Belita

  Optics of a trade

  Options

  basic explanation of

  call

  long-term stock-index

  Meriwether’s Arbitrage Group and

  premium

  put options

  valuing

  See also Currency options

  Orange County, California

  Over-the-counter markets for currency options

  Overseas Chinese Bank

  Ovitz, Michael

  Owens Corning

  Oxford Health Plans

  Pacific Asset Holdings

  Pacific Gas & Electric

  Pai, Lou

  PaineWebber

  Palm

  Pappas, Jay

  Parity (put-call parity)

  Parker, Dane

  Parsons, John

  PCG Telecom

  Peat Marwick

  PERCS

  Pereira, Paulo V. Ferraz

  Perella, Joseph

  Perelman, Ronald

  PERLS

  Perrone, Joseph P.

  PG&E

  Philippines

  Phillips Petroleum

  Pickens, T. Boone

  Piper, Tad

  Piper Jaffray

  Institutional Government Income-Portfolio

  Pitt, Harvey

  PNC Financial

  Poland

  Pomrenze, Jay

  Powers, William, Jr.

  Preferred stock

  novel types of

  Preiskel, Barbara Scott

  Prepaid swaps

  Prepayment risk

  President’s Working Group on Financial Markets

  Price/earnings ratios

  PricewaterhouseCoopers

  PRIDES

  Private placements

  Private Securities Litigation Reform Act of 1995

  Procter & Gamble

  Procter & Gamble v. Bankers Trust

  Proxy basket of currencies

  Prudential plc

  PT Adimitra Rayapratama

  PT Dharmala Sakti Sejahtera

  Pulliam, Susan

  Put options

  Putnam Management

  Quantum Fund

  Quattrone, Frank

  Qwest Communications

  Raabe, Matthew

  Ramius Capital

  Random Walk Down Wall Street, A (Malkiel)

  Random walk hypothesis

  Ranieri, Lewis

  Reagan, Ronald

  Receivables, transferring. See Structured finance

  Recommendations

  Rector, William

  Reg FD (fair-disclosure rule)

  Regulation and regulators

  British

  credit ratings’ importance to

  criminal prosecutions and

  derivatives

  exemption of over-the-counter

  derivatives from federal regulation
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  failure to punish financial malfeasance

  foreign companies, prosecution of

  Japanese

  loss-of-control daisy chain

  prosecuting fraud

  recommendations for

  shifting from rules to standards

  See also Deregulation; specific agencies

  Regulatory arbitrage

  Rekenthaler, John

  Related Party transactions

  Enron and

  Reliant Energy

  Restricted stock

  Revco

  Rhythms NetConnections

  Rigas family

  Risk-Adjusted Return on Capital (RAROC)

  Risk arbitrage

  Risk models

  Value-at-Risk (VAR)

  Rite Aid

  RJR Nabisco

  Robertson, Julian

  Rogue Trader

  Rohrbach, Clayton J.

  Roll Call

  Rooney, Pace

  Rooney, Phillip

  Rose, Charlie

  Rosenfeld, Eric

  Rubin, Howard

  Rubin, Robert

  Rusnak, John M.

  Russia

  S. G. Warburg & Co.

  Sallie Mae

  Salomon Brothers

  Arbitrage Group

  bonuses at

  DECS and

  derivatives subsidiary (Salomon Swapco)

  Krieger at

  Meriwether at

  mortgage bonds and

  risk management at

  WorldCom and

  See also Grubman, Jack; Mozer, Paul

  Salomon Swapco

  Samuelson, Paul

  Sandoz Corp.

  Sanford, Charles S., Jr.

  Sarbanes, Paul

  Saunders, Ernest

  Savings-and-loan crisis

  Saylor, Michael Jerry

  Scanlon, Jack

  Schmidt, John

  Scholes, Myron

  Schultz, Paul

  Scott Paper

  Sears

  Securities analysts

  conflicts of interest

  Enron collapse and

  Internet securities and

  rating of stocks by

  See also names of individuals

  Securities and Exchange Commission (SEC)

  Arthur Andersen and

  Bankers Trust and

  Bruntjen and

  disclosure of derivative risks in financial reports and

  enforcement powers

  Enron and

  Howard Rubin and

  IPO schemes and

  jurisdiction of

  Kidder Peabody and

  Levitt and

  NationsSecurities and

  Orange County and

  Piper Jaffray and

  Pitt and

  private placements and

  Regulation FD

  revenue recognition practices and

  Rite Aid and

  Rule

  simple fraud cases, tendency to prosecute

  Sunbeam and

  three percent rule and

  treatment of traders in complex-financial instruments

  WorldCom and

  Securitization

  Collateralized Bond Obligations (CBOs)

  mortgage bonds

  Self-regulatory approach to the markets

  Sellers, Patricia

  Sequa

  ServiceMaster

 

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