Investment Banking and Secondary Markets - Financial Markets

Explore the intricacies of investment banking and secondary markets in this comprehensive lecture from Yale University's Financial Markets course. Delve into the changing financial system and recent market stabilization reforms, including the Paulson Proposal and its potential impact. Examine the inherent instability of the financial system and the need for increased surveillance, particularly in light of the subprime mortgage crisis. Learn about the mechanics and role of investment banking, including the underwriting process, securities issuance, and the importance of reputation in the industry. Gain insights into the historical context of investment banking and its evolution over time. Understand the challenges faced by investment banks and the potential for future changes in the role of the Federal Reserve. This 72-minute lecture provides a thorough overview of investment banking practices, regulatory considerations, and the dynamics of secondary markets.

- Chapter 1. The Paulson Proposal: Opportunities for Stabilization and Surveillance
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- Chapter 2. The Fed as a Market Stability Regulator and News Media Bias
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- Chapter 3. What Is Investment Banking? A Historical Glimpse
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- Chapter 4. Investment Banks' Underwriting Process and the Importance of Reputation
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- Chapter 5. The Investment Banker as the Manager of a Security
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