"Derivatives/Hedging" Deals

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Author House, Apr 25, 2011 - Business & Economics - 536 pages
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""Derivatives / Hedging" Deals" by Citibank, Standard Chartered Bank and Deutsche Bank, with Sri Lanka Government's Petroleum Corporation, analytically and interestingly raises ethical, moral and legal issues, as to whether deals perpetrated by Banks, with their own customer, whose poor financials were known to them, were "dubious" and, i>illegal"; with Banks also having "compromised" public officers, with foreign trips to educate them on derivatives / hedging.

The Author analytically exposes the true nature of such transactions, and how they work, though sophisticatedly described to "camouflage" and "confuse," to achieve the objective of raping customers to make "unconscionable profits; disclosing how "gullible " elected and selected public officers are, and how they are manipulated, through sophisticated and "devious " means; demonstrating that whilst countries courageously stand up to international or regional political associations, "intriguingly " lack the ability to stand up to Banks, conducting operations upon licenses granted by monetary authorities of such country.

The Author also exposes the reality of how professionals conduct themselves, within and outside Courts of law, demonstrating classic instances of 'unequal treatment before the law', making a mockery of the tenet - 'all are equal before the law, no one being above it', sacrosanctly pontificated and propounded on" podia. " The Author raises in discerning minds, issues of contempt of Court and "judicial bias, " citing Opinions in the House of Lords, United Kingdom in "re - Pinochet, " former Chilean President; shockingly also exposing, how the "media" manipulatively operates driven by" hidden agendas. "

This book is very interesting and absorbing to read, and imparts " incisive" knowledge on a variety of subjects, dealt with in an objective, analytical and rational manner, exposing socio-political realities. It is an "invaluable book" to those concerned with sophisticated financial instruments and "scams," which have scandalized financial sectors, warranting "stimulus packages" from Governments, and to legal/financial academics and professionals.

  

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About the author (2011)

Nihal Sri Ameresekere, F.C.A. (Sri Lanka), F.C.M.A. (United Kingdom), C.M.A. (Australia) , C.F.E. (United States) , is a Member, International Consortium on Governmental Financial Management and a Member, International Association of Anti-Corruption Authorities. Former Advisor, Ministry of Finance and Chairman, Public Enterprise Reforms Commission Sri Lanka. Has functioned as Senior Consultant on World Bank and USAID funded public sector economic reform projects.

A multi-disciplinary professional, exposed to private and public sectors, and a public interest activist, with wide international exposure. Not a legal professional, yet has appeared in person before the Supreme Court, successfully advocating public interest litigations. He is a forensic accounting investigative specialist. Has dispassionately spoken out on matters of national and public interest. Ardently upholds the sacred precept, that public property is solely of the people, and managed in fiduciary trust by governments; transgression of which he has committedly combated.

Has published exposés into transactions carried out, under the aegis of IMF, World Bank and ADB privatization agenda, incisively analyzing real case studies, exposing the shockingly dubious manner, in which privatizations have been perpetrated by the highest levels, disclosing the alarming indifference of international developmental agencies, completely eroding public confidence, crucial for meaningful privatization, to foster a free economy, characteristic with transparency.

He emphasizes that ‘economic terrorism’ germinates ‘armed terrorism’, resulting in violation of human rights. ‘Concerns of humanity, transcends interests of nationality’, he propounds; and that poverty alleviation schemes merely replace, at the cost of the poor, their own resources pillaged and plundered by socio-politically influential. Politicians vigorously campaign on election platforms, vociferously decrying fraud and corruption, vowing stringent action thereon. However, upon assuming office of government, get bogged down in the very quagmire of fraud and corruption, invariably peddled by powerful multinationals – as lucidly demonstrated through a series of other publications on his real life experiences thereon.

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