Financial Derivatives - UCLA Department of ….ppt

Financial Derivatives;Overview;Definition of Financial Derivatives ;Repayment of Financial Derivatives ;Common Financial Derivatives ;Options;Forward Contracts;Futures;Stripped Mortgage-Backed Securities;Structured Notes;Swaps;Swaps;Rights of Use;Combined Derivative Products ;Hedge Funds;Hedge Funds;Hedge Funds;Why Have Derivatives? ;Why Have Derivatives? ;The Risks ;The Risks ;The Risks ;Leveraging ;Leveraging ;Trading of Derivatives ;Trading of Derivatives ;Mutual Funds and Public Companies ;Selling of Financial Derivatives;Derivatives on the Internet;Derivatives on the Internet;Derivatives on the Internet;An Apologia for Derivatives;The Dark Side of Derivatives;The Steps on the Primrose Path ;Equity Funding Corporation of America;;The insurance funding program - 1;The insurance funding program - 2;The insurance funding program - 3;The first scam;The next scam;The Really BIG Scam;The Final Scam;The computer makes it possible;The failure of the auditors;The house of cards collapses;The fallout from Equity Funding ;An analysis of the causes;The Management;The Auditors;The Lessons Learned;Baring Bank Bankruptcy;Nick Leeson: both Front and Back;Account 88888;The Collapse;Orange County Bankruptcy;Orange County—History;Orange County—Period of Success;Orange County—the collapse;The Role of the Brokerage;The Underlying Causes;Orange County is not Unique;What needs to be done? ;What needs to be done?;What needs to be done?;Long Term Capital Management;Long Term Capital Management;The Near Bankruptcy and Bail-Out;Long Term Capital Management;Long Term Capital Management;Long Term Capital Management;Long Term Capital Management;Long Term Capital Management;Enron Bankruptcy;Gas Pipeline Company in 1985;Deregulation;Enron Finance in 1990;Enrons Overseas Energy Projects;Enrons Support from the U.S.;Enrons Incentives to Risk;Enrons Overseas Boondoggle;Enrons Overseas Partnerships;Enron Communications ;Enron Communications ;Enron Communications ;EnronOnline;EnronOnline;EnronO