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Toxic Assets
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Toxic Assets (edit title/settings)

by Caroline Gerardo (Author) (edit contributors)

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Description edit see section history

“Katherine McVeigh is the strong woman president of “Nationwide Bank.” The beauty is healing from a failed marriage. When she accepts a job, she does not realize she is being set up for the murders of board members for profit. Her ex has stolen all her assets, but she strives to work to... read more

Characters/People edit see section history

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Quotes edit see section history

  • “Being ready is everything.”

Setting & Locations edit see section history

  • Newport Beach: The offices of Nationwide Bank are in Newport Beach off Pacific Coast Highway near Fashion Island.
  • New York: Wall Street, secondary market in New York City
  • Laguna Beach, California: Katherine lives in a house in Bluebird Canyon that he bank rents for her and her two sons.
  • Turks and Caicos: A wild trip to the Ocean Club Resort is all expense paid by the bank. The island is in an "off shore" location where the wealthy bankers might hide cash in local banks. The local banks accomodate pick ups from fancy resorts. They attend a rave party at an abandoned warehouse.
  • Las Vegas, Nevada: One of the top salesmen at the bank has huge gambling debts. Katherine flies to Las Vegas.
  • Greenwich: Katherine leaves Connecticut to hide from the gossip about her husband's fraud and dissapearance.
  • California
  • Newport
  • Nationwide
  • United States
  • Bahamas
  • Wall Street
  • East Coast
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Glossary edit see section history

  • rave: A party at a location that has no license or permits with live music alcohol and drugs.
  • Securitization - Mortgage: typical example of securitization is a mortgage-backed security (MBS), which is a type of asset-backed security that is secured by a collection of mortgages. The process works as follows:First, a regulated and authorized financial institution originates numerous mortgages, which are secured by claims against the various properties the mortgagors purchase. Then, all of the individual mortgages are bundled together into a mortgage pool, which is held in trust as the collateral for an MBS. The MBS can be issued by a third-party financial company, such a large investment banking firm, or by the same bank that originated the mortgages in the first place. Mortgage-backed securities are also issued by aggregators such as Fannie Mae or Freddie Mac.Regardless, the result is the same: a new security is created, backed up by the claims against the mortgagors' assets. This security can be sold to participants in the secondary mortgage market. This market is extremely large, providing a significant amount of liquidity to the group of mortgages, which otherwise would have been quite illiquid on their own. (For a one-stop shop on subprime mortgages, the secondary market and the subprime meltdown, check out the Subprime Mortgages Feature.)http://www.investopedia.com/ask/answers/07/securitization.asp
  • Secondary Market: Collateralized Mortgage Obligations
  • Tor: Describe this term.

Authors & Contributors edit see section history

  1. Caroline Gerardo (Author)

Classification edit see section history

Notes for Parents edit see section history

Reading Level: Young Adults

Violent scenes, murder, some sexual content

More Books Like This edit see section history

   
  • The Great Gatsby
  • Wall Street & the Financial Crisis - Anatomy of a Financial Collapse
  • The Wolf of Wall Street
  • The End of Wall Street
  • House of Cards
  • Bull Street
  • Wall Street, Banks, and American Foreign Policy
  • Exile on Wall Street: One Analyst's Fight to Save the Big Banks from Themselves
  • Mortgage-Backed Securities: Products, Structuring, and Analytical Techniques (Frank J Fabozzi Series)
  • The mortgage encyclopedia : the authoritative guide to mortgage programs, practices, prices and pitfalls
  • Reckless Endangerment
  • Chain of Blame: How Wall Street Caused the Mortgage and Credit Crisis
  • Guaranteed to Fail
  • Mortgage Ripoffs and Money Savers: An Industry Insider Explains How to Save Thousands on Your Mortgage or Re-Fi

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