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Extreme Money: Masters Of The Universe And The Cult Of Risk (2011)

by Satyajit Das(Favorite Author)

3.58 of 5 Votes: 3

languge

English

genre

Nonfiction

publisher

Penguin Books India

review 1: I enjoyed Extreme Money. It provides an interesting commentary on the current financial crisis. Das raises some good points about how "financialized" our economy is and the dangers inherent when money and financial instruments are created with less than a 1:1 relationship to the underlying assets.As other reviewers have noted, the book could probably be a bit more concise. Nevertheless, I found it very thought-provoking and interesting. It is a little ironic, though, that it has been long listed for the Goldman Sachs business book of the year.
review 2: Finally finished slogging through this. Rather than a linear narrative, Das provides a series of examples that fit each stage of the financial crisis in which we are still embroiled. The book is heavily peppe... morered with quotes from figures in the world of finance as well as celebrities, authors, and others. I would prefer a more united presentation but the quotes were entertaining for the most part and I finished with a pretty good picture of the level of leverage involved in creating the catastrophe. Das does provide helpful diagrams of the various complex tiered investment vehicles and how they function. The scariest part of the whole book is the ending, in which one realizes that nothing has really changed and the same sort of trading still continues. This does not make me feel confident about the global recovery process. less

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