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13 Bankers: The Wall Street Takeover And The Next Financial Meltdown (2010)

by Simon Johnson(Favorite Author)

3.84 of 5 Votes: 1

ISBN

0307379051 (ISBN13: 9780307379054)

languge

English

genre

History & Biography

publisher

Pantheon

review 1: The first half reads like a doctoral dissertation, but if you are willing to wade through that part it is a very cogent discussion of our current dilemma with regard to our banks, and the likely results if we do not take that dilemma seriously and address our issues with them. After all, as I read somewhere recently, we have six banks that are too big to fail, and they own the Senate. Food for thought.
review 2: I loved that this book started with Hamilton and Jefferson's opposing views on financial regulation at the outset of the USA democracy. The history, especially "emerging markets" crises, are strong lessons that "too big to fail" is real and needs to be fixed as soon as possible. The authors make a strong case for breaking up the big banks and their co... morezy relationship with Congress and regulators. Until I read this book, I thought the receivership or carefully regulated liquidation of a really big bank would work if one took undue risk in the future. Now I'm a believer that break up with future limits of size (including everything like off balance sheet items) in relation to GDP is the only sensible solution. less

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