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Table of Contents

Managing to the New Regulatory Reality
Doing Business under the Dodd-Frank Act

Dangerous Markets

Dangerous Markets is a ‘must read’ in the current global environment for all serious investors and senior executives. The McKinsey authors bring a unique practitioners’ perspective to the challenges of anticipating, managing, and succeeding in financial crises, and close with an intriguing call for leading private sector players to step up their role in promoting new market standards and structures to help avoid future financial crises and minimize their potential impact.”
Hon. Robert R. Glauber, former Chairman and CEO, NASD, former Under Secretary of the U.S. Treasury department, and former Harvard Business School professor

“The authors of a new book titled Dangerous Markets have created an intriguing methodology to spot pre-crisis warning signs and have devised some practical solutions as to how to companies and countries can best deal with financial crashes once they have occurred.”
John Thornton, Financial Times, December 30, 2002.

“Worried about a financial crisis in your country? Why not host a dinner party? That is one of the few whacky suggestions in a decidedly unwhacky new book by three employees of global consultants, McKinsey & Co. Their book concludes that financial crises like the one that swept Asia in 1997 and 1998 have become more frequent in the past decade or so and will become more frequent still as developing countries enter the global economy.
“. . . The authors say that if spotted in advance, properly prepared businesses and investors can profit from a crisis. That preparation includes doing your own intelligence on the state of the economy by whatever means available, including hosting dinner parties with bankers, economists, local business leaders, politicians and (they really say this), the ‘local correspondent from the Wall Street Journal.’”
Phillip Day, Wall Street Journal Europe, October 14, 2002

“One particular book is very popular in German banking circles at the moment: Dangerous Markets. It deals with the warning signs relating to financial crises, the momentum associated with them and the ways of dealing with them. Dominic Barton, Roberto Newell, and Gregory Wilson – are crisis experts at management consulting firm McKinsey. This publication . . . provides a riveting insider report on system crises in newly industrialized countries and financial difficulties in the banking sectors of G7 states.”
Handelsblatt, February 21-22, 2003.

Dangerous Markets: Managing in Financial Crises . . . address this question and attempts to come up with a praxis for navigating through these financial tempests. . . . It is highly readable – a leisurely weekend would be just enough . . . The structure is a paint-by-numbers sort of management tome, a design much beloved by the too-busy-to-read manager.”
Noel G. Reyes, Business World, October 16, 2002


“Financial crises are hardly limited to the purview of central bankers and regulators. The authors skillfully demonstrate that financial crises offer both peril and promise. A ‘must-read’ for top management of any global company, whether a financial or a nonfinancial institution.”
Ronald P. O’Hanley
Vice Chairman, Mellon Financial Corp.

“Based on their vast experience in financial crises around the world during recent years, the authors have developed an impressive review of the origins of and solutions to financial crises. The cost of such crises can be minimized and the path to recovery established earlier if bankers, other corporate executives, and public finance officials take advantage of this effort and apply the lessons learned from their significant work.”
Charles H. Dallara
Managing Director, Institute of International Finance, Inc.