Annual Report


Book Description




Report


Book Description




Annual Report


Book Description

With appendices.







Floor Rules


Book Description

A compelling account of how markets really govern themselves, and why they often baffle and outrage outsiders One of the reasons many people believe financial markets are lawless and irrational—and rigged—is that they follow two sets of rules. The official rules, set by law or by the heads of the exchanges, exist alongside the unofficial rules, or floor rules—which are the ones that actually govern. Break the official rules and you may be fined or jailed; break the floor rules and you’ll suffer worse: you will be ostracized. Regulations vary across markets, but the floor rules are remarkably consistent. This book, offering compelling stories of market disturbances in which insider rules played a key role, shows readers, without excessive moralizing, how markets really govern themselves. It is a study of the norms, customs, values, and operating modes of the insiders at the center of the financial markets that trade money, stocks, bonds, futures, and other financial derivatives. The core insiders who rule trading markets are a relatively small group who exert disproportionate influence on financial systems. Mark W. Geiger examines the historical roots of the culture of financial markets, describes the role insiders play in today’s high finance, and suggests where this peculiar, ingrown culture is heading in an era of constant technological change.




Angels of Mercy


Book Description

William Seraile uncovers the history of the colored orphan asylum, founded in New York City in 1836 as the nation’s first orphanage for African American children. It is a remarkable institution that is still in the forefront aiding children. Although no longer an orphanage, in its current incarnation as Harlem-Dowling West Side Center for Children and Family Services it maintains the principles of the women who organized it nearly 200 years ago. The agency weathered three wars, two major financial panics, a devastating fire during the 1863 Draft Riots, several epidemics, waves of racial prejudice, and severe financial difficulties to care for orphaned, neglected, and delinquent children. Eventually financial support would come from some of New York’s finest families, including the Jays, Murrays, Roosevelts, Macys, and Astors. While the white female managers and their male advisers were dedicated to uplifting these black children, the evangelical, mainly Quaker founding managers also exhibited the extreme paternalistic views endemic at the time, accepting the advice or support of the African American community only grudgingly. It was frank criticism in 1913 from W. E. B. Du Bois that highlighted the conflict between the orphanage and the community it served, and it wasn’t until 1939 that it hired the first black trustee. More than 15,000 children were raised in the orphanage, and throughout its history letters and visits have revealed that hundreds if not thousands of “old boys and girls” looked back with admiration and respect at the home that nurtured them throughout their formative years. Weaving together African American history with a unique history of New York City, this is not only a painstaking study of a previously unsung institution of black history but a unique window onto complex racial dynamics during a period when many failed to recognize equality among all citizens as a worthy purpose.