Note #9 - I Jon Corzine: current New Jersey Governor I...

Info iconThis preview shows pages 1–11. Sign up to view the full content.

View Full Document Right Arrow Icon
ECON 133 Securities Markets Lecture 9 Jia-Yuh Chen August 14, 2009
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Stock of the Day I I Rosetta Stone, Inc. (RST)
Background image of page 2
Stock of the Day II I Yen carry trade
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Glass-Steagall Act of 1933 I Passed during the Great Depression I Separate commercial banking, investment banking, and insurance
Background image of page 4
Gramm-Leach-Bliley Act of 1999 I Allow for bank holding companies I Mergers and acquisitions happened to capture cross-selling synergy I Cause of the current crisis?
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Investment Banking Houses I Not broker-dealer I Falls of Bear Stearns and Lehman Brothers I The most valuable assets walk out of the door every day I Partnerships no longer exist I Bank holding companies and TARP
Background image of page 6
Goldman Sachs I Founded in 1869 I The most coveted investment bank I Alumni I Henry Paulson: U.S. Treasury Secretary I Robert Rubin: U.S. Treasury Secretary I Henry Fowler: U.S. Treasury Secretary
Background image of page 7

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 8
Background image of page 9

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 10
Background image of page 11
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: I Jon Corzine: current New Jersey Governor I Robert Zoellick: current World Bank President I Mark Carney: current Bank of Canada Governor I Romano Prodi: Italian Prime Minister Securities Underwriting I Mitigate moral hazard problem I Arrange issuance of securities I Initial or seasoned o/erings I Two types of deals I Bought deal (&rm commitment) I Best e/orts The Underwriting Process I Highly regulated by the SEC I Pre-&ling with the SEC and silence period I Forming a syndicate I O¢ cial &ling and the cooling-o/ period I Preliminary prospectus (red herring) I Approval I Roadshows I Initial public o/erings Initial Public O/erings I Under price to make it oversubscribed I Auctions I IPO abuse...
View Full Document

This note was uploaded on 04/07/2010 for the course ECON 133 taught by Professor Chen during the Summer '09 term at University of California, Santa Cruz.

Page1 / 11

Note #9 - I Jon Corzine: current New Jersey Governor I...

This preview shows document pages 1 - 11. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online