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Characteristics of Casino Finance

  • Marc ChesneyEmail author
Chapter
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Abstract

This chapter highlights the contradictions between the financial sector’s objectives and the entrepreneurial spirit. Salient features of casino finance are identified: big banks and hedge funds often bet with money that does not belong to them, but rather to taxpayers, pensioners, clients and shareholders. Marc Chesney analyses the financial sector’s problematic modus operandi and the complex products it issues and reveals the dangers represented by oversized off-balance sheet activities.

Keywords

Casino finance Liar’s poker High-frequency trading Plutocracy Bad banks 

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Copyright information

© The Author(s) 2018

Authors and Affiliations

  1. 1.Department of Banking and FinanceUniversity of ZurichZürichSwitzerland

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