This book provides a comprehensive look at banking-as-a-service (Baas), equipping readers with an understanding of the origins, evolution, future and applications of BaaS and the key differences across global markets.BaaS is a game changer in the financial services sector, radically transforming both how consumers experience financial products and the business models delivering them. Banking as a Service cuts through the hype to provide a measured overview of BaaS, helping readers to demystify a complex evolving field and understand its key opportunities, challenges and risks. It provides a framework for understanding where BaaS came from, how BaaS changes the economics and business models of banking products and services, its impact on key stakeholders, and its key regulatory implications. Banking as a Service explains how business and operating models work, exploring different models such as interchange, deposit gathering, loan origination-to-distribute, legacy, API-first, own licence, match-making and bank service providers and offers a framework for thinking about whether or not they're sustainable. It explores how BaaS operating and business models compare in different global territories and is supported by real-world examples and cases profiling organizations such as Blue Ridge Bank, Unit, Synapse, Goldman Sachs, Railsr, Starling, Solaris, Cacao Paycard, QNB, OnePipe, Airwallex, Nium and Pomelo. It also explains the differences between BaaS, embedded finance and open banking. Read more

Revealing account of the struggles and surprises when forming a financial joint venture with ChinaThe China Business Conundrum: Ensure That "Win-Win" Doesn't Mean Western Companies Lose Twice describes former CEO of Silicon Valley Bank (SVB) Ken Wilcox's firsthand challenges he encountered in four years “on the ground” trying to establish a joint venture between SVB and the Chinese government to fund local innovation design―and the Chinese Communist Party (CCP) efforts to systematically sabotage the project and steal SVB's business model. This book provides actionable advice drawn from meticulous notes Wilcox took from interviews with people from all walks of Chinese life, including Party and non-Party members, the business elite, and domestic workers. Describing a China he found fascinating and maddeningly complex, this book explores topics including: Difficulties in transplanting SVB's model to China, from misunderstandings about titles and responsibilities to pitched battles over toilet designEthics and practices widely adopted by Chinese businesses today and why China must be met with realistic expectationsWilcox's own honest missteps and the painfully learned lessons that came afterwardsEngrossing, enlightening, and entertaining, The China Business Conundrum: Ensure That "Win-Win" Doesn't Mean Western Companies Lose Twice is an essential cautionary tale and guidebook for all Western bankers, C-suite executives, consultants, and entrepreneurs seeking to do business within China. Read more

Reverse stress testing was introduced in risk management as a regulatory tool for financial institutions more than a decade ago. The recent Covid-19 crisis illustrates its relevance and highlights the need for a systematic re-thinking of tail risks in the banking sector. This book addresses the need for practical guidance describing the entire reverse stress testing process. Reverse Stress Testing in Banking features contributions from a diverse range of established practitioners and academics. Organized in six parts, the book presents a series of contributions providing an in-depth understanding of: Regulatory requirements and ways to address them Quantitative and qualitative approaches to apply reverse stress testing at different levels – from investment portfolios and individual banks to the entire banking system The use of artificial intelligence, machine learning and quantum computing to gain insights into and address banks’ structural weaknesses Opportunities to co-integrate reverse stress testing with recovery and resolution planning Governance and processes for board members and C-suite executives Readers will benefit from the case studies, use cases from practitioners, discussion questions, recommendations and innovative practices provided in this insightful and pioneering book. Read more

Winner of best book by a foreign author (2019) at the Business Book of the Year Award organised by PwC RussiaThe future of banking is already here ― are you ready?Bank 4.0 explores the radical transformation already taking place in banking, and follows it to its logical conclusion. What will banking look like in 30 years? 50 years? The world’s best banks have been forced to adapt to changing consumer behaviors; regulators are rethinking friction, licensing and regulation; Fintech start-ups and tech giants are redefining how banking fits in the daily life of consumers. To survive, banks are having to develop new capabilities, new jobs and new skills. The future of banking is not just about new thinking around value stores, payment and credit utility ― it's embedded in voice-based smart assistants like Alexa and Siri and soon smart glasses which will guide you on daily spending and money decisions. The coming Bank 4.0 era is one where either your bank is embedded in your world via tech, or it no longer exists.In this final volume in Brett King's BANK series, we explore the future of banks amidst the evolution of technology and discover a revolution already at work. From re-engineered banking systems, to selfie-pay and self-driving cars, Bank 4.0 proves that we're not on Wall Street anymore. Bank 4.0 will help you:Understand the historical precedents that flag a fundamental rethinking in bankingDiscover low-friction, technology experiences that undermine the products we sell todayThink through the evolution of identity, value and assets as cash and cards become obsoleteLearn how Fintech and tech "disruptors" are using behaviour, psychology and technology to reshape the economics of bankingExamine the ways in which blockchain, A.I., augmented reality and other leading-edge tech are the real building blocks of the future of banking systemsIf you look at individual technologies or startups disrupting the space, you might miss the biggest signposts to the future and you might also miss that most of we've learned about banking the last 700 years just isn't useful.When the biggest bank in the world isn't any of the names you'd expect, when branch networks are a burden not an asset, and when advice is the domain of Artificial Intelligence, we may very well have to start from scratch. Bank 4.0 takes you to a world where banking will be instant, smart and ubiquitous, and where you'll have to adapt faster than ever before just to survive. Welcome to the future. Read more

A timely and robust discussion of responsible bank stewardship and practice.The Second Edition of The Principles of Banking offers banking professionals, regulators, and students from a variety of backgrounds an authoritative and practical discussion of the foundations of modern banking and good banking practice. In the book, you'll find a comprehensive roadmap to a more sustainable business model for your banking organization.The author draws on his many years' experience as a commercial and investment banker as he explains the original principles of banking―including sound lending policy, capital management, and liquidity risk management―as well as new material covering the impact of COVID-19 on banks, risk management, and balance sheet management.The Principles of Banking also provides recommendations for bank asset-liability management best practices that enable banks to deliver optimized balance sheets for the benefit of all stakeholders. It also includes new chapters in market risk management, foreign exchange risk management, interest rate risk, and credit risk policy and management.An essential update to a widely read and taught banking text, The Principles of Banking, Second Edition is an indispensable resource for banking professionals and students everywhere. Read more

Prepare to excel in your CAMS certification with this all-encompassing guide, tailored for both newcomers and seasoned professionals in the AML field. This resource demystifies complex concepts, offering a clear and concise pathway to mastering anti-money laundering practices.📚 Key Features:580+ Practice Questions 📝 Engage with an extensive collection of over 580 practice questions, designed to mirror the CAMS exam format and challenge your understanding.Simplified Content 🧠 Complex AML topics are broken down into easy-to-understand language, ensuring clarity and retention.Comprehensive Coverage 🌐 Covers all critical areas, including KYC procedures, risk assessment, regulatory frameworks, and transaction monitoring techniques.Real-World Scenarios 💼 Includes practical examples and case studies to apply theoretical knowledge to real-life situations.Exam Strategies 🎯 Provides tips and techniques to enhance test-taking skills and boost confidence on exam day.🔍 Why Choose This Guide?Unlike other study materials, this guide offers a unique blend of simplified explanations and practical applications, making it an invaluable tool for effective learning. Its extensive question bank and real-world scenarios set it apart, providing a holistic approach to exam preparation.Equip yourself with the knowledge and skills to become a Certified Anti-Money Laundering Specialist. This guide is your trusted companion on the journey to certification success. Read more

Asset-Liability and Liquidity Management distils the author’s extensive experience in the financial industry, and ALM in particular, into concise and comprehensive lessons. Each of the topics are covered with a focus on real-world applications, based on the author’s own experience in the industry.The author is the Vice President of Treasury Modeling and Analytics at American Express. He is also an adjunct Professor at New York University, teaching a variety of analytical courses.Learn from the best as Dr. Farahvash takes you through basic and advanced topics, including:The fundamentals of analytical financeDetailed explanations of financial valuation models for a variety of productsThe principle of economic value of equity and value-at-riskThe principle of net interest income and earnings-at-riskLiquidity riskFunds transfer pricingA detailed Appendix at the end of the book helps novice users with basic probability and statistics concepts used in financial analytics. Read more

Community banking can flourish in the face of fintech and global competition with a fresh approach to strategyBankruption + Website offers a survival guide for community banks and credit unions searching for relevance amidst immense global competition and fintech startups. Author John Waupsh is the Chief Innovation Officer at Kasasa, where he helps spearhead financial product development and implementation across hundreds of institutions. In this guide, he draws on more than a decade in the industry to offer clear, practical advice for competing with the megabanks, direct banks, non-banks, and financial technology companies.The discussion separates futurist thinking from today's realities, and dispels common myths surrounding the U.S. community banking model in order to shed light on the real challenges facing community banking institutions. It follows with clear solutions, proven strategies, and insight from experts across banking and fintech. All arguments are backed by massive amounts of data, and the companion website provides presentation-ready visualizations to help you kickstart change within your team.In the U.S. and around the globe, fintech companies and non-banks alike are creating streams of banking services that are interesting, elegant, and refreshing―and they're winning the hearts and minds of early adopters. Not a one-size-fits-all approach, this book offers many different tactics for community banks and credit unions to compete and flourish in the new world.Analyze fintech's threat to the community banking modelLearn where community banking must improve to competeDisprove the myths to uncover the real challenges banks faceAdopt proven strategies to bring your organization into the futureCommunity banks and credit unions were once the go-to institutions for local relationship banking, but their asset share has been on the decline for three decades as the big banks just got bigger. Now, fintech companies are exploiting inefficiencies in the traditional banking model to streamline service and draw even more market share, as community banking executives are left at a loss for fresh tactics and forward-looking strategy. Bankruption + Website shows how community banks can be saved, and provides a proven path to success. Read more

Completely revised and updated to include the ongoing financial crisis and the Obama administration's programs to combat it, this is the best available introductory textbook for an undergraduate course on Financial Markets and Institutions. It provides balanced coverage of theories, policies, and institutions in a conversational style that avoids complex models and mathematics, making it a student-friendly text with many unique teaching features. Financial crises, global competition, deregulation, technological innovation, and growing government oversight have significantly changed financial markets and institutions. The new edition of this text is designed to capture the ongoing changes, and to present an analytical framework that enables students to understand and anticipate changes in the financial system and accompanying changes in markets and institutions. The text includes Learning Objectives and end-of-chapter Key Words and Questions, and an online Instructor's Manual is available to adopters. Read more

The issue of riba, that is, interest/the "excess" or "surplus" on loans is crucial for both Islamic and non-Islamic countries. Western economic systems use interest to distribute financial resources efficiently for investment and/or consumption, while Islamic economies pursue a completely different strategy for financing loans, which adheres to Islamic laws and prohibits the activities of conventional banking systems with regard to interest. This book argues that there is scope for new definitions and analysis based on alternative concepts which respect Islamic values and principles, yet pave the way for modification and debate.The book comprises of two parts. Theoretical issues are dealt with in the first section. The first two chapters examine conventional Islamic views on the prohibition of riba, while Chapters 3 and 4 contain unprecedented and alternative theoretical analysis based on concepts such as "earned" (halal-permitted-legal) vs. "unearned" (haram-impermissible-illegal) income and SUKUK, that is, Islamic interest-free bonds. The second part of the book tackles another unconventional aspect of Islamic finance, that is, the concept of NAS. The book considers whether the NAS-influenced anti-inflationary interest policy was a success or failure. Empirical data is evaluated in terms of bank incomes, inflation rate, interest rate, and the distribution of income.This book will be a useful guide for students, scholars, and researchers of Islamic banking and finance. Read more

A step-by-step guide to implementing and closing securitization transactionsSecuritization is still in wide use despite the reduction in transactions. The reality is that investors and institutions continue to use this vehicle for raising funds and the demand for their use will continue to rise as the world's capital needs increase.The Mechanics of Securitization specifically analyzes and describes the process by which a bank successfully implements and closes a securitization transaction in the post subprime era. This book begins with an introduction to asset-backed securities and takes you through the historical impact of these transactions including the implications of the recent credit crisis and how the market has changed.Discusses, in great detail, rating agency reviews, liaising with third parties, marketing the deals, and securing investorsReviews due diligence and cash flow analysis techniquesExamines credit and cash considerations as well as how to list and close dealsDescribes the process by which a bank will structure and implement the deal, and how the process is project managed and tested across internal bank departmentsWhile securitization transactions have been taking place for over twenty-five years, there is still a lack of information on exactly how they are processed successfully. This book will put you in a better position to understand how it all happens, and show you how to effectively implement an ABS transaction yourself. Read more

Analyzing Banking Risk: A Framework for Assessing Corporate Governance and Risk Management provides a comprehensive overview of topics focusing on assessment, analysis, and management of financial risks in banking. The publication emphasizes risk management principles and stresses that key players in the corporate governance process are accountable for managing the different dimensions of financial and other risks. This fourth edition remains faithful to the objectives of the original publication. It covers new business aspects affecting banking risks, such as mobile banking and regulatory changes over the past decade―specifically those related to Basel III capital adequacy concepts―as well as new operational risk management topics such as cybercrime, money laundering, and outsourcing. This publication will be of interest to a wide body of users of bank financial data. The target audience includes the persons responsible for the analysis of banks and for the senior management or organizations directing their efforts. Because the publication provides an overview of the spectrum of corporate governance and risk management, it is not aimed at technical specialists of any particular risk management area. *** Hennie van Greuning was formerly a Senior Adviser in the World Bank’s Treasury Unit and previously worked as a sector manager for financial sector operations in the World Bank. He has been a partner in a major international accounting firm and a controller and head of bank supervision in a central bank. Since retiring from the World Bank, he has chaired audit, ethics, and risk committees in various banks and has been a member of operational risk and asset-liability management committees. Sonja Brajovic Bratanovic was a Lead Financial Sector Specialist at the World Bank, after a career as a senior official in a central bank. With extensive experience in banking sector reforms and financial risk analysis, she led World Bank programs for financial sector reforms, as well as development projects. Since her retirement, she has continued as a senior consultant for World Bank development projects in the financial sector, as well as an advisor for other development institutions. Read more

Clearing, Settlement, and Custody, Third Edition, introduces the post-trade infrastructure and its institutions. Author David Loader reduces the complexity of this environment in a non-technical way, helping students and professionals understand the complex chain of events that starts with securities trading and ends the settlement of cash and paper. The Third Edition examines the roles of clearing houses, central counterparties, central securities depositories, and custodians. The book assesses the impact on workflow and procedures in the operations function at banks, brokers, and institutions. In consideration of technological and regulatory advances, this edition adds 5 new chapters while introducing new case studies and updating examples.Adds a new chapter while updating all chaptersAdds new case studies and end-of-chapter questionsIntroduces current examples to illuminate important points Read more

Economics of Banking is aimed at final year undergraduate, postgraduate and MBA students taking courses in banking. The text focuses on banking trends and operations in a microeconomic context, incorporating theoretical material with practical aspects of banking. Read more

The Second Edition of this best selling introduction for practitioners uses new material and updates to describe the changing environment for project finance.  Integrating recent developments in credit markets with revised insights into making project finance deals, the second edition offers a balanced view of project financing by combining legal, contractual, scheduling, and other subjects. Its emphasis on concepts and techniques makes it critical for those who want to succeed in financing large projects.  With extensive cross references and a comprehensive glossary, the Second Edition presents anew a guide to the principles and practical issues that can commonly cause difficulties in commercial and financial negotiations.Provides a basic introduction to project finance and its relationship with other financing techniquesDescribes and explains: sources of project finance; typical commercial contracts (e.g., for construction of the project and sale of its product or services) and their effects on project finance structures; project finance risk assessment from the points of view of lenders, investors, and other project parties; how lenders and investors evaluate the risks and returns on a project; the rôle of the public sector in public private partnerships and other privately financed infrastructure projects; how all these issues are dealt with in the financing agreements Read more

--------------------SECOND EDITION------------------------ABOUT THE BOOKIt is a practical guide to introduce Derivative pricing models and Counterparty Credit Exposure modelling. XVA has been a hot topic in the industry for the last decade and probably more years to come. It has gathered many powerful brains into these subjects within Quantitative Finance. This book opens up the subject for non-mathematical savvy people. Many simple examples are used to explain concepts like Randomness of asset behavior, Derivatives , Counterparty Credit Risk, Monte Carlo method and most importantly, XVAs. With the help of graphs and Python prototypes, the technical complexity will be lower and the subject much easier to understand.Github with python code examples: https://github.com/LilanLi/XVAbookTABLE OF CONTENTPrefaceStructure of the BookAcknowledgements1 Introduction to Quantitative Finance1.1 Basic Economic and Pricing Concepts1.2 Counterparty Credit Risk (CCR) and XVA.1.3 Random Behavior of the Asset1.4 Stochastic Dynamics2 Risk Factor Modelling and Methodology2.1 Modelling Framework & Architecture2.2 Interest Rate Swap (IRS)2.3 Random Number2.4 Risk factor Modelling2.5 Correlation between Risk Factors2.6 Conclusion3 Monte Carlo Simulation3.1 History3.2 Monte Carlo in Finance3.3 Monte Carlo Algorithm Step by Step3.4 Python Prototype3.5 Issues & challenges3.6 Conclusion4 Counterparty Credit Exposure4.1 Quantify the Exposure4.2 Counterparty Exposure in Python Prototype4.3 Different Exposure Measurements4.4 Graphic analysis of the Results4.5 Conclusion5 XVAs family5.1 Credit Derivatives – CDS5.2 Credit Valuation Adjustment – CVA5.3 Debit Valuation Adjustment – DVA5.4 Funding and FVA5.5 Other XVA Topics5.6 Conclusion6 AssumptionsClosing RemarkAbout the Author and MotivationsAcronymsAppendix A : Python Prototype - Full ImplementationAppendix B: Collateral Modelling ImplementationAppendix C: Credit Correlation productsAppendix D – Hazard rate, Default time, PD and CDSReferencesWHAT IS NEW IN THE SECOND EDITIONCredit Derivatives trading, in particular Correlation products are introduced in this new edition. Desk level risk management including hedging and client facing tactics are also included. Products covered are CDS, CLN and CDO. I covered these during my time at JP Morgan and Barclays Credit Hybrids derivatives Trading & Structuring around 2008-2012. Markets have changed a lot since the financial crisis and most of these products now have a very thin market with a small number of active players. This is the reason why I only touched lightly on products like FTD/NTD and Recovery Swaps, but I wanted to preserve the product knowledge and hope that my readers will enjoy it.Many thanks to Dr. Günter Umlauf for his proof reading and inspiring discussions which have helped me to retrieve those old golden memories. Read more

An advanced method for financial institutions to optimize Asset Liability Management for maximized return and minimized risk Financial institutions today are facing daunting regulatory and economic challenges. As they manage bank regulation and competition, institutions are also optimizing their Asset Liability Management (ALM) operations. The function of the ALM unit today goes beyond risk management related to the banking book into managing regulatory capital and positioning the balance sheet to maximize profit.  Asset Liability Management Optimization: A Practitioner's Guide to Balance Sheet Management and Remodelling offers a step-by-step process for modeling and reshaping a bank's balance sheet. Based on the author's extensive research, it describes how to apply a quantifiable optimization method to help maximize asset return and minimize funding cost in the banking book.ALM ranks as a key component of any financial institution's overall operating strategy. Now, financial professionals can use an advanced solution for optimizing ALM. This book takes a closer look at the evolving role of the ALM function and the target position of the banking book. It provides strategies for active management, structuring, and hedging of a bank balance sheet, while also exploring additional topics related to ALM.A description of the Funds Transfer Pricing (FTP) process related to a bank’s target positionDetailed examinations of interest rate risk in the banking book (IRRBB)Discussion of Basel III regulatory requirements and maturity gap analysis         Overview of customer behavior, along with its impact on interest rate and liquidity riskPractical spreadsheet models (NII sensitivity and EVE volatility IRRBB model, simplified optimization model for minimization of average funding cost for a bank and an example of behavioral model for Non-Maturing Deposits)Explorations of model risk, sensitivity analysis, and case studies The optimization techniques found in Asset Liability Management Optimization can prove vital to financial professionals who are tasked with maximizing asset return and reducing funding costs as a critical part of business objectives. Read more

An extraordinary tale of an American firm’s astounding success in ChinaIn Money Machine: A Trailblazing American Venture in China, Weijian Shan delivers a compelling account of one of the most significant deals in private equity history: the first and only foreign acquisition of control of a Chinese national bank. Money Machine is the fascinating inside story of the transaction as told by the man who led it, from the intrigues of dealmaking to the complex and uncharted process of securing control by a foreign investor of a Chinese nationwide financial institution, a feat that had never before been attempted, nor has it been repeated. Shan also describes the astonishingly successful turnaround of the institution under the control of the American firm: the clash of cultures, the growth to strength and profitability, and ultimately, the extraordinarily profitable exit from the investment. In the process, he reveals new insights into how finance operates in China’s capital system and how private equity firms can add real value to companies. Readers will also find: A peek behind the curtain of a process usually shrouded in secrecy: private equity dealmaking and moneymakingThe complex negotiations between American private equity executives and Chinese regulators to implement a series of unprecedented changesThe riveting details of the challenges that had to be overcome to return the bank to growth and profitabilityAn exceptional firsthand account of truly singular deal-making and money-making, Money Machine will be of interest to investment bankers, investors, financial analysts and anyone who appreciates a suspenseful, true-life story. Read more

The Credit Derivatives Bible – Updated with All New Material for 2022The third edition of Janet Tavakoli’s seminal comprehensive book on credit derivatives takes a fresh approach with a focus on profitable trading strategies in troubled times: RMBS, synthetic mortgage-backed securitization, structured credit products, related derivatives, and the future direction of the market. Tavakoli explains what works and what does not work. Together with her book, Structured Finance and Collateralized Debt Obligations, she notes the flaws and opportunities in debt obligations leveraged with credit derivatives. (See details after the review)REVIEW“Notably, Tavakoli’s research work has been endorsed by, for example, the late Nobel prize winner, Merton Miller, and The Big Short hedge fund manager, Michael Burry.Of interest to commodity traders is the book’s section on the collapse of the Futures Commission Merchant, MF Global. She discusses ‘[how] MF Global went bankrupt in a triparty repo trade that was, in substance, a total return swap for which it could not meet margin calls."Intelligent Commodity InvestingHow did one use credit derivatives to short the ABX index and why was it such a good idea? How does one use total return swaps to go short or long credit risk? What is triparty repo? What are the pitfalls of derivatives transactions? What are the good ideas today? Which trades are most likely to have the most upside with the least downside? Which are most likely to pose high risk for little reward? This is the book that answers these questions.This third describes the wide range of products in the second edition plus many more:* Arbitrages: regulatory capital, CDOs, economic capital, convertible bonds, et al.* Asset swaps, plain vanilla par credit default swaps, and why they are still trading benchmarks* LIBOR, SOFR, SONIA, SARON, et al.* How value-destroying credit derivatives, residential mortgage-backed securities (RMBS), mortgage-backed bonds, and synthetic collateralized debt obligations contributed to the global financial crisis of 2008* How to recognize the fraud quadrangle, how to avoid it, and how to profit from others’ fraud* How various Big Short trades work* JPMorgan's anti-Big Short London Whale trade* Total Return Swaps (TRS)* Creating synthetic securities and structured credit products* Language issues.* Information Asymmetry* Repo and reverse-repo* Triparty repo* Credit default swaps and options* Basis risk, materiality, termination payments* Pricing and applications* Exotic structures*Asset swap switches* Synthetic lending facilities* Prorata default structures* Basket default swaps* Basket default options* Currency convertibility* Sovereign Credit Default Swaps* Credit Linked Notes (CLNs)-reasons for CLNs, black box structures, collateralized loan obligations, hybrid securitizations* Sovereign risk and emerging markets-tax arbitrage, cross border issues, special event risks, pricing convertibility protection* Failure of credit derivatives in certain sovereign transactions* The Big COVID-19 Shorts* Future opportunities due to the high “Corruption to Production Ratio”And much more.Praise for Janet Tavakoli“Clear and pacy. She knows her stuff, has strong opinions.” On the financial crisis: “There is a healthy dose of ‘I told you so’, but Tavakoli is one of the few who did.”—The Financial Times Read more

From the end of the nineteenth century until the onset of the Great Depression, Wall Street embarked on a stunning, unprecedented, and often bloody period of international expansion in the Caribbean. A host of financial entities sought to control banking, trade, and finance in the region. In the process, they not only trampled local sovereignty, grappled with domestic banking regulation, and backed US imperialism—but they also set the model for bad behavior by banks, visible still today. In Bankers and Empire, Peter James Hudson tells the provocative story of this period, taking a close look at both the institutions and individuals who defined this era of American capitalism in the West Indies. Whether in Wall Street minstrel shows or in dubious practices across the Caribbean, the behavior of the banks was deeply conditioned by bankers’ racial views and prejudices. Drawing deeply on a broad range of sources, Hudson reveals that the banks’ experimental practices and projects in the Caribbean often led to embarrassing failure, and, eventually, literal erasure from the archives. Read more