Suntech Power Holdings How To Avoid Bankruptcy Case Study Solution
Suntech Power Holdings How To Avoid Bankruptcy Case Solution
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Bargaining Power of Buyers
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The end result of this at least decade long conspiracy was that towns and cities systematically lost, while banks and brokers won big. By shaving tiny fractions of a percent off their winning bids, case solution banks pocketed fantastic sums over case solution life of these multimillion dollar bond deals. Lowering a bid by just one 100th of a percent, called a basis point, could cheat a town out of tens of thousands of dollars it would otherwise have earned on its bond deposits. That doesnt sound like much. But when added case study case solution other fractions of a percent stolen from basically every other town in America on every other bond issued by Wall Street in case solution past 10 case study 15 years, it starts case study turn into an enormous sum of money. In short, this was like case solution scam in Office Space, multiplied by a factor of about 10 gazillion: Banks stole pennies at a time from towns all over America, only they did it a few hundred bazillion times. Given case solution complexities of bond investments, its impossible case study know exactly how much case solution total take was. But consider this: Four banks that took part in case solution scam UBS, Bank of America, Chase and Wells Fargo paid $673 million in restitution after agreeing case study cooperate in case solution governments case. Bank of America even entered case solution Justice Departments leniency program, which is tantamount case study admitting that it committed felonies. Since that settlement involves only four of case solution firms implicated in case solution scam a list that includes Goldman, Transamerica and AIG, as well as banks in Scotland, France, Germany and case solution Netherlands, and since settlements in Wall Street cases tend case study represent only a tiny fraction of case solution actual damages Chase paid just $75 million for its role in case solution bribe and payola scandal that saddled Jefferson County, Alabama, with more than $3 billion in sewer debt, its safe case study assume that Wall Street skimmed untold billions in case solution bid rigging scam. The UBS settlement alone, for instance, involved 100 different bond deals, worth a total of $16 billion, over four years.