Publisher's Synopsis
A shadow bank is a non-depository financial institution that provides services similar to traditional commercial banks but operates under exemptions from normal banking regulations. Investment banks, private equity and hedge funds are examples of a few types of shadow banks. They create debt and equity capital across the global financial system. The highest level of financial expertise and sophistication is captured by shadow banks... expertise that affords these institutions the ability to not only structure investments that outperform anything available to the public, but more importantly, to create almost infinite capital at will. Over the past half century, shadow bank's esoteric expertise has fueled the explosive growth of the financial services industry that has corrupted the principles of free markets through regulatory capture and the Federal Reserve itself. Ben Summers provides you the power of shadow banks to use for good.
