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13 Bankers: The Wall Street Takeover and the Next Financial Meltdown
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Binding: Audio CDDewey Decimal Number: 332.10973 EAN: 9781400166848 Edition: Unabridged,MP3 - Unabridged CD Format: Audiobook, MP3 Audio, Unabridged ISBN: 1400166845 Label: Tantor Media Manufacturer: Tantor Media Number Of Items: 1 Publication Date: March 31, 2010 Publisher: Tantor Media Studio: Tantor Media Features:
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Browse for similar items by category: Click to Display Editorial Review: Product Description: Simon Johnson and James Kwak examine not only how Wall Street's ideology, wealth, and political power among policy makers in Washington led to the financial debacle of 2008 but also what the lessons learned portend for the future. Average Rating:
 Rating: - How we got hereA lucid, readable account of how the political and financial worlds mesh to the benefit of those who play in those sand boxes and to the detriment of those who don't. The authors document exactly how a deregulatory push begun under President Carter (surprise!) gained traction under President Reagan and bore fruit almost thirty years later. They focus on how "free market"ideologues have achieved their long-sought ends and the urgent need to reverse those regulatory achievements if our financial system, ... Read More Rating:  - CarelessnessIn March 2009 thirteen bankers needed the government. The banks had a central role in causing the economic crisis, but the country's economic prosperity depended upon them. The large banks are a new oligarchy. Wall Street ideology has been embraced by both political parties. In 2000 custom derivatives wee made exempt from regulation in the Commodity Futures Modernization Act. Surviving big banks may have been the winners of the financial crisis. Historically Hamilton favored, Jefferson ... Read More Rating: - We could be up the creek - thanks to Dems and GOP bothJohnson, after a brief overview of financial history from the first Bank of the U.S. under Hamilton, starts where most such overviews of our modern financial system start: The Panic of 1907, followed closely by TR's trust-busting, then, Wilson making the connection between the two to get Congress to establish a Federal Reserve System. Next comes the Depression and a brief look at finance and the Fed's role in it, followed by FDR's various regulatory reforms, including the FDIC, the SEC, etc. Read More Rating: - Fills a good space on your bookshelf of financial horror storiesA decent read, though not earthshaking if you have read much else in this genre. For instance, the author mentions trader-turned-law-professor Frank Partnoy and one of his works on the subject - the ground-breaking FIASCO, Blood in the Water - where Partnoy surfaces the use of the phrase "ripping his face off" when it came to traders burning clients and making huge piles of cash while doing it, and does some of the first modern-day muckraking around derivatives and those who profit from them. That ... Read More Rating:  - A Good Look at How Banking Regultions ChangedWhile I think this book is a good history of the regulation changes that occurred in banking from the mid to late 90s, I do not think this book does that great a job explaining the recent banking crisis. The authors clearly believe that the changes in regulation and lax regulators caused the crisis and that better/stronger regulation would fix it. They however fail to explain how if the regulators are so co-opted by the big banks that regulation on its own will work. I also feel that the authors let Fred and ... Read More 
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