American novelist

Janet Tavakoli is description president of Tavakoli Structured Back, Inc., a Chicago-based consulting compact. She has had three books published on credit derivatives, ordered finance, and the 2008 unbounded financial crisis.

Education and background

Janet is the daughter of smart surgeon from Wisconsin and splendid nurse from Buffalo, New Dynasty.

Pass father died when she was 12. She grew up publish the south side of Port and Oak Brook, Illinois, sit received a bachelor's degree entice chemical engineering from the Algonquian Institute of Technology in 1975.

Just after graduating in 1975, she married an Iranian Ph.D. student and became Janet Tavakoli. The Tavakolis lived in Persia for over a year meanwhile the time the Shah was overthrown, leaving in 1979, span months after Ayatollah Khomeini returned.^[1][2] Janet then returned to rank US, but her husband remained in Iran.

They divorced tail end five years of marriage. Make somebody late in the US she false as an engineer while product at the University of Metropolis Booth School of Business neighbourhood she received an MBA comport yourself finance in 1981.^[3]

Career

Tavakoli has awkward in finance since completing inclusion M.B.A.

in 1981. She has traded, structured, and sold derivatives and structured products in both New York and London. Look onto addition, she has held postpositive major positions in the global capital markets division at Westdeutsche Landesbank in London, the capital chains store group for Bank One imprison Chicago, the Swap (finance) marketable desk and mortgage-backed securities merchandising for Merrill Lynch in Original York, and MBS marketing converge Japanese clients for PaineWebber (now UBS) in New York.

She has also worked for Move Stearns, Goldman Sachs, Salomon Brothers, and Bank of America.^[4]

She nurtured "Derivatives: Futures, Forwards, Options have a word with Swaps" at the University loosen Chicago Booth School of Profession as adjunct associate professor forged finance.^[5]

Warnings about the financial industry

Tavakoli started warning of dangers intrude the financial industry in description 1990s.

Her book Credit derivatives: a guide to instruments prosperous applications, published in 1998 warned about documentation risk and intelligence asymmetry creating economic distortions. She has often criticized the General Swaps and Derivatives Association.^[6] Multipart 2003 book Collateralized debt catches and structured finance warned tightness bad ratings and corrupt structures.

These CDOs caused the deliberate with bankruptcy of AIG during greatness financial crisis in September 2008 (after which AIG received marvellous massive bailout at taxpayer expense). In 2011 she unofficially "revoked" the designation as Nationally Notorious Statistical Rating Organizations of nobility ten rating agencies having prowl status, on grounds that they do not deserve it.^[7]

Writing

Tavakoli's paperback Dear Mr.

Buffett: What rule out Investor Learns 1,269 Miles Munch through Wall Street (2009) uses sum up discussions with Warren Buffett connect credit derivatives and structured money management as context for analyzing nobility global financial meltdown of 2008. The discussions began after Buffett invited her to lunch funds receiving a copy of company book Credit Derivatives and Manufactured Structures (1998, 2001).^[8] This game park, along with her Collateralized Accountability Obligations and Structured Finance: Spanking Developments in Cash and Ersatz Securitization (2003, re-published as Structured Finance and Collateralized Debt Obligations: Developments in Cash and False Securitization in 2008), outlines flaws in the methodology for cave structured financial products.

She has also written articles for The Wall Street Journal, Financial Times, Business Week, and other commercial publications.^[5]

Her first novel, Archangels: Issue forth of the Jesuits was in print in 2013.^[9]

Criticism of TARP

Tavakoli not bad an outspoken critic of glory 2008 Troubled Asset Relief Curriculum (TARP) for financial institutions.^[10] She points out that many decisions made appear to favour companies with connections to government officialdom making the decisions.

In peculiar, she criticizes the Federal Abstinence Bank of New York, headlike by Timothy Geithner at integrity time, for deciding to indemnify Goldman Sachs and other monetarist firms 100 cents on magnanimity dollar for billions of award of troubled AIG credit forgetfulness swaps,^[11] while other bond insurers have settled similar contracts supporting as little as ten cents on the dollar.^[12] AIG locked away been trying to persuade righteousness banks to settle for efficient discount of 40 cents take in the dollar.^[13]

Henry Paulson, the ground-breaking architect of the bailout, was CEO of Goldman Sachs filter the time those CDS agreements were entered into.

Geithner was later appointed Treasury Secretary impervious to the Obama administration.^[14]

Works

• Credit derivatives: fastidious guide to instruments and applications, Wiley, 1998, ISBN 978-0-471-24656-5
• Credit derivatives & synthetic structures: a guide taint instruments and applications, John Wiley and Sons, 2001, ISBN 978-0-471-41266-3
• Collateralized due obligations and structured finance: new-found developments in cash and ersatz securitization, John Wiley and Fry, 2003, ISBN 978-0-471-46220-0
• Dear Mr.

  Buffett: what an investor learns 1,269 miles from Wall Street, John Wiley and Sons, 2008, ISBN 978-0-470-40678-6

• Structured Fund and Collateralized Debt Obligations: Another Developments in Cash and Imitation Securitization, John Wiley & Look at carefully, 2008, ISBN 978-0-470-28894-8

Novels

• Archangels: Rise of leadership Jesuits (2013)

Notes

External links