The Unravelling of Structured Investment Vehicles explains the global financial crisis

Journal of Risk Management in Financial Institutions: "The politician or regulator who wanted a look at how to make banking safer would learn a lot about the plumbing of the sector from reading this book. The author explains admirably well the mechanics of SIVs. The book is well-written and, given the rather technical subject matter, surprisingly engaging. At times, the author could have adopted a more forceful and less sitting-on-the-fence style but overall, the book is a pleasure to read. The editing has been careful and attentive."

Financial Times: "As the former Moody's Europe managing director responsible for structured finance operating companies ... Henry Tabe speaks from a position of authority. He is in full command when he describes the evolution of SIVs ... and their salient legal, operational and financial features. As a primer ... the book is superb."




 
  • Press Release
  • The Unravelling... reviewed in VOX (a leading EU portal for economic policy research), Finance Director Europe, International Financing Review, Euroweek, Journal of Risk Management in Financial Institutions, Financial Times, More
  • President Obama and US Congress presented with report quoting the author and citing The Unravelling... More
  • Bloomberg Businessweek interviews the author on conduits - see paragraphs 9 and 10 of this article.
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    The Unravelling of Structured Investment Vehicles: How Liquidity Leaked Through SIVs

    Lessons in Risk Management and Regulatory Oversight

    The Unravelling of Structured Investment Vehicles (SIVs) by Henry Tabe The Unravelling of Structured Investment Vehicles charts the course of SIVs from their origins in the late 1980s to their eventual collapse in the wake of the crisis, highlighting critical factors that contributed to the sector’s demise. The book is divided into three parts. Part one contains Chapters 1 and 2 covering the themes of introduction, overview, genesis and evolution of the sector. Part two contains Chapters 3 to 7 and addresses the structure and operations of the vehicles. Including such details, it is hoped, will enable the reader to appreciate that little in the establishment, management and operations of the vehicles clearly presaged their demise. On the contrary, it is hoped that the reader will see, through such details, that the vehicles were operated in a similar manner to most banks and asset management companies and perhaps more efficiently than many firms that survived the crisis. This leads to the question of what went wrong, which the third part of the book, running from Chapters 8 to 10, seeks to address. This part also explores the lessons that can be learned to prevent the annihilation of whole swathes of the global capital markets in future crises and the adverse consequences of such annihilation for the global economy. ...
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    About the Author

    Henry Tabe, author of Leaking SIVs

    Henry Tabe was born in Cameroon, attended Bilingual Grammar Schoool Buea and University College London, where he obtained a Ph.D. in Mathematics. ...
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