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Business Scandals, Corruption, and Reform: An Encyclopedia, 1st Edition

  • Published By:
  • ISBN-10: 1440800685
  • ISBN-13: 9781440800689
  • DDC: 364.16
  • Grade Level Range: College Freshman - College Senior
  • 780 Pages | eBook
  • Original Copyright 2013 | Published/Released December 2013
  • This publication's content originally published in print form: 2013

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About

Overview

Since the dawn of civilization, corruption has had a perpetual impact on the world's economies. In the modern, technology-enabled, global economy, the effects of those who manipulate free-market capitalism for their own gains regardless of methodology continue to be a problem, despite reforms instituted to attempt to discourage the most blatant practices.

Business Scandals, Corruption, and Reform: An Encyclopedia contains more than 300 entries that describe the myriad aspects of corruption, business scandals, and attempts at reform, providing not only detailed information about specific accounting scandals and earnings manipulation but also a broad examination of the entire history of business corruption throughout human civilization. Reviewing all the major scandals from tulip mania in the early 17th century to the subprime mortgage crisis of 2008 and beyond, the author illuminates how corrupt actors in business and the attempts to eliminate these types of abuses have been instrumental to the developing institutional framework of free-market capitalism.

Awards

  • RUSA's Outstanding Reference Sources 2012

Table of Contents

Front Cover.
Half Title Page.
Title Page.
Copyright Page.
Contents.
List of Entries.
Guide to Related Topics.
Preface.
Introduction: The Meaning of Scandals and Corruption.
1: Accounting Fraud.
2: Accounting Standards.
3: Acquisition Accounting.
4: Adelphia.
5: Altman's Z-score.
6: American Federation of Labor/Congress of Industrial Organizations (AFL-CIO).
7: American Insurance Group (AIG).
8: Ames, Oakes.
9: Annual Report (10-K).
10: Antitrust.
11: Arbitrage.
12: Arthur Andersen.
13: Asian Debt Crisis.
14: Astor, John Jacob.
15: Audit Fees and Auditor Independence.
16: Auditing from the Medieval Period to SEC Regulation.
17: Auditing since SEC Regulation.
18: Austrian School of Economics.
19: Bailouts.
20: Banana Republics.
21: Bank of England.
22: Bank of North America.
23: Bank of the United States, First.
24: Bank of the United States, Second.
25: Baring Brothers.
26: Basel Accords.
27: BCCI Scandal.
28: Bear Stearns.
29: Behavioral Economics.
30: Bernanke, Ben S..
31: Biddle, Nicholas.
32: Big Four Accounting Firms.
33: Black-Scholes Model.
34: Black Swans.
35: Blankfein, Lloyd C..
36: Blodget, Henry.
37: Blount, William.
38: Boesky, Ivan.
39: Bond Ratings.
40: Bond Ratings on Structured Finance.
41: Brady Plan.
42: Bretton Woods Agreement.
43: Bribery.
44: Bubbles and Euphoria.
45: Burr, Aaron.
46: Business Cycle.
47: Capital Markets.
48: Capture Theory.
49: Carnegie, Andrew.
50: Cendant.
51: Central Pacific Railroad.
52: Chinese Wall on Wall Street.
53: Classical Economics.
54: Clayton Act.
55: Clearinghouses.
56: Cleverly Rigged Accounting Ploys (CRAP).
57: Coal Strike of 1902.
58: Collateralized Debt Obligation (CDO).
59: Commercial Banks after the Federal Reserve.
60: Commercial Banks before the Federal Reserve.
61: Conglomerates.
62: Conservative versus Aggressive Accounting.
63: Constitution, U.S..
64: Continental Currency and American Revolution Financing.
65: Continental Illinois Bank.
66: Cooke, Jay.
67: Cookie Jar Reserves.
68: Cornfeld, Bernard.
69: Corporate Governance.
70: Corporations.
71: Counterfeiting.
72: Countrywide Financial.
73: Crash of 1929.
74: Creative Destruction.
75: Credit Default Swaps.
76: Credit Risk.
77: Cutler, Manasseh.
78: Daugherty, Harry M..
79: Debt and Leverage.
80: Deregulation.
81: Derivatives.
82: Dodd-Frank (Financial Reform) Bill.
83: Doheny, Edward.
84: Dow Jones Industrial Average.
85: Drew, Daniel.
86: Duer, William.
87: Durant, Thomas.
88: Durant, William C..
89: Earnings Forecasts.
90: Earnings Manipulation.
91: Earnings Quality.
92: Earnings Restatements (GAO Studies).
93: Ebbers, Bernard K..
94: Enron.
95: Environmental Movement.
96: Environmental Regulations.
97: Erie Canal.
98: Erie Railroad.
99: Estes, Billie Sol.
100: Ethics.
101: Executive Compensation.
102: Fall, Albert B..
103: Fannie Mae and Freddie Mac.
104: Fastow, Andrew S..
105: Federal Reserve System.
106: Federal Trade Commission (FTC).
107: Financial Accounting Standards Board (FASB).
108: Financial Analyst Scandal.
109: Financial Crisis Inquiry Commission.
110: Fisk, James (“Jubilee Jim”).
111: Flash Crash of 2010.
112: Food and Drugs Regulation.
113: Ford, Henry.
114: Foreign Corrupt Practices Act.
115: Fraud.
116: Fuld, Richard S., Jr..
117: General Electric and Westinghouse Heavy Equipment Scandal.
118: General Motors.
119: Gibson Greetings Derivatives Losses.
120: Gold—the Corner of 1869.
121: Goldman Sachs.
122: Goldman Sachs Trading Corporation.
123: Gold Standard.
124: Gould, Jason (“Jay”).
125: Great Depression.
126: Great Railroad Strike of 1877.
127: Greenspan, Alan.
128: Grubman, Jack.
129: Hamilton, Alexander.
130: Haymarket Affair (1886).
131: HealthSouth.
132: Hedge Funds.
133: Holding Company Pyramiding.
134: Homestead Strike (1892).
135: Honest Graft.
136: Hostile Takeovers.
137: Housing and Mortgages.
138: Hyperinflation in Germany.
139: ImClone Systems.
140: Industrialization in the United States, Early.
141: Insider Trading.
142: Insider Trading Scandals of the 1980s.
143: Insull, Samuel.
144: Internal Control (401) Audits.
145: Interstate Commerce Commission.
146: Inventory Fraud.
147: Investment Banks.
148: Investment Trusts (1920s).
149: Investors Overseas Services (IOS).
150: Jackson, Andrew.
151: Jefferson, William J..
152: Jett, Joseph.
153: Jones, Alfred W..
154: J. P. Morgan Chase.
155: Junk Bond Market.
156: Justice.
157: Keating, Charles H., Jr..
158: Keating Five.
159: Keynes, John Maynard.
160: Kozlowski, L. Dennis.
161: Kreuger, Ivar.
162: Labor Movement, U.S..
163: Latin American Banking Crises.
164: Law, John.
165: Lay, Kenneth L..
166: Leeson, Nicholas W..
167: Lehman Brothers.
168: Leveraged Buyouts.
169: Levine, Dennis.
170: Libor Scandal.
171: Lincoln Savings and Loan Association.
172: Litigation Reform Act of 1995.
173: Little, Jacob.
174: Lobbying.
175: Long-Term Capital Management.
176: LTV (Ling-Temco-Vaught Corporation).
Title Page.
1: Madoff, Bernard L..
2: Making the Number.
3: Manhattan Company.
4: Margin Calls.
5: Market Manipulation.
6: Mark-to-Market Accounting.
7: May Day (1975).
8: McKesson & Robbins Fraud.
9: Mellon, Andrew W..
10: Mercantilism.
11: Mergers.
12: Meriwether, John W..
13: Merrill Lynch.
14: Military-Industrial Complex.
15: Milken, Michael R..
16: Minsky, Hyman.
17: Misery Index.
18: Mississippi Bubble.
19: Mitchell, Charles (“Sunshine Charlie”).
20: Money Market Funds—Breaking the Buck 2008.
21: Money Trust.
22: Monopolies and Other Combinations.
23: Morgan, John Pierpont.
24: Morgan Stanley.
25: Morris, Robert.
26: Mortgage-Backed Security (MBS).
27: Mozilo, Angelo R..
28: Munn v. Illinois.
29: Mutual Funds Scandals (2003).
30: NASDAQ.
31: National Bureau of Economic Research.
32: Net Income and Other Bottom-Line Measures.
33: New Deal.
34: New York Stock Exchange.
35: Northern Pacific War.
36: Off-Balance-Sheet Items.
37: Orange County Bankruptcy.
38: Panic of 1819.
39: Panic of 1837.
40: Panic of 1857.
41: Panic of 1873.
42: Panic of 1893.
43: Panic of 1907.
44: Panics and Depressions.
45: Paper Money.
46: Patents and Invention Fraud.
47: Paulson, Hank.
48: Paulson, John.
49: Pecora Commission.
50: Penn Central Bankruptcy (1970).
51: Pension Basics.
52: Pension Underfunding and Manipulation.
53: Plunkitt, George Washington.
54: Political Machines.
55: Pollution Externalities.
56: Ponzi, Charles.
57: Ponzi Scheme.
58: Portfolio Insurance.
59: Preferred List (on Initial Public Offerings [IPOs]).
60: Price Fixing.
61: Procter & Gamble Derivatives Losses.
62: Professional Ethics.
63: Profiteering during the American Revolution.
64: Proxy Statement.
65: Public Company Accounting Oversight Board (PCAOB).
66: Pujo Hearings.
67: Pullman Strike (1894).
68: Raiding the Erie Railroad, 1868.
69: Railroads, Nineteenth Century.
70: Reconstruction Finance Corporation (RFC).
71: Redlining.
72: Regulation of Business.
73: Regulation and Regulatory Failures.
74: Repo 105s.
75: Resolution Trust Corporation (RTC).
76: Retirement Benefits and Manipulation.
77: Revenue Fraud.
78: Revenue Recognition and Manipulation.
79: Risk and Risk Management.
80: Rite Aid.
81: Roaring Twenties.
82: Robber Barons.
83: Rockefeller, John Davison.
84: Roosevelt, Franklin Delano.
85: Roosevelt, Theodore.
86: Russian Kleptocracy and Default.
87: Salomon Brothers.
88: Sarbanes-Oxley Act of 2002.
89: Savings and Loan Deregulations and Failures.
90: Scrushy, Richard M..
91: Securities Acts of 1933 and 1934.
92: Securities and Exchange Commission (SEC).
93: Sherman Antitrust Act of 1890.
94: Sinclair, Harry F..
95: Skilling, Jeffrey K..
96: Smith, Adam.
97: Social (Corporate) Responsibility.
98: Soros, George.
99: South Sea Bubble.
100: Special-Purpose Entities (SPEs).
101: Special-Purpose Entities at Enron.
102: Speculation.
103: Spoils System.
104: Stagflation.
105: Standard Oil Company.
106: State Banks, Early.
107: Stock Crash of 1987.
108: Stock Option Manipulation.
109: Stock Option Scandals.
110: Structured Finance.
111: Subprime Meltdown.
112: Sunbeam.
113: Tammany Hall.
114: Tax Evasion and Tax Scams.
115: Teamsters and Corruption.
116: Teapot Dome.
117: Tech Bubble.
118: Tequila Crisis.
119: Too Big to Fail.
120: Transcontinental Railroad and the Credit Mobilier Scandal.
121: Transparency.
122: Treasury Department.
123: Treasury Stock.
124: Triangle Shirtwaist Fire (1911).
125: Troubled Asset Relief Program (TARP).
126: Trust Movement.
127: Tulip Mania.
128: Tweed, William M. (“Boss”).
129: Tyco International.
130: Union Pacific Railroad.
131: United States Steel.
132: Utilitarianism.
133: Value at Risk (VaR).
134: Van Buren, Martin.
135: Vanderbilt, Cornelius (“Commodore”).
136: Vesco, Robert L..
137: Volcker, Paul A., Jr..
138: Wagner Act.
139: Washington, George.
140: Waste Management.
141: Watering Stock.
142: Whitney, Richard.
143: Wiggin, Albert.
144: Wilkinson, James.
145: WorldCom.
146: Yazoo Land Scandal.
147: ZZZZ Best.
Timeline.
Glossary.
Bibliography.
Index.
About the Author.