The Problem of Twelve : When a Few Financial Institutions Control Everything
Coates, John
ISBN 13: 9798987053546
Editorial: Columbia Global Reports, 2023
Usado
Encuadernación de tapa blanda
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Better World Books: West, Reno, NV, Estados Unidos de America
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Descripción
Descripción:
Pages intact with possible writing/highlighting. Binding strong with minor wear. Dust jackets/supplements may not be included. Stock photo provided. Product includes identifying sticker. Better World Books: Buy Books. Do Good. N° de ref. del artículo 57713543-75
Sinopsis:
The forces behind an economic and political crisis in the making
A "problem of twelve" arises when a small number of institutions acquire the means to exert outsized influence over the politics and economy of a nation.
The Big Four index funds of Vanguard, State Street, Fidelity, and BlackRock control more than twenty percent of the votes of S&P 500 companies-a concentration of power that's unprecedented in America. Then there’s the rise of private equity funds such as the Big Four of Apollo, Blackstone, Carlyle and KKR, which has amassed $2.7 trillion of assets, and are eroding the legitimacy and accountability of American capitalism, not by controlling public companies, but by taking them over entirely, and removing them from public discourse and public scrutiny.
What can be done to check this level of power? Harvard law professor John Coates argues that only politics can fight the problem of twelve.
Acerca del autor: John Coates is the John F. Cogan, Jr. Professor of Law and Economics at Harvard Law School, where he also serves as Deputy Dean and Research Director of the Center on the Legal Profession. He has served as General Counsel and Acting Director of the Division of Corporation Finance of the Securities and Exchange Commission; before joining Harvard, he was a partner at Wachtell, Lipton, Rosen & Katz, specializing in financial institutions and M&A. He has testified before Congress and provided consulting services to the Department of Justice, the Department of Treasury, and the New York Stock Exchange. He lives in Newton, MA.
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Detalles bibliográficos
Título: The Problem of Twelve : When a Few Financial...
Editorial: Columbia Global Reports
Año de publicación: 2023
Encuadernación: Encuadernación de tapa blanda
Condición: Very Good