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13 Bankers The Wall Street Takeover and the Next Financial Meltdown (Hardcover)

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13 Bankers Johnson, Simon/ Kwak, James 1 of 1
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Product Details:

Format: Hardcover
ISBN-10: 0307379051
ISBN-13: 9780307379054
Sku: 211579016
Publish Date: 3/30/2010
Dimensions:  (in Inches) 9.75H x 6.75L x 1.25T
Pages:  304
See more in Economic Conditions
 
Friday, March 27, 2009, was a lovely day in Washington, D.C.--but not for the global economy. The U.S stock market had fallen 40 percent in just seven months, while the U.S economy had lost 4.1 million jobs. Total world output was shrinking for the first time since World War II. (from the first line)
Johnson and Kwak examine not only how Wall Streets 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. *Author: Johnson, Simon/ Kwak, James *Subtitle: The Wall Street Takeover and the Next Financial Meltdown *Publication Date: 2010/03/30 *Number of Pages: 304 *Binding Type: Hardcover *Language: English *Depth: 1.25 *Width: 6.75 *Height: 9.75
From the Publisher:
In the wake of the financial crisis of 2008, the largest banks at its center have emerged bigger, more profitable, and more resistant to regulation, even as they continue to wield power in Washington. Without an effective government crackdown on their deleterious, conventional practices, these banks—“too big to fail” and holding the global economy hostage—threaten to create yet another crippling economic downturn. The choice that our political and economic system faces is stark: accede to the vested interests of an unfettered financial sector that runs up profits in good years and dumps its losses on taxpayers in lean years, or reform, through stringent regulation, the banking system as an engine of economic growth.
 
In 13 Bankers, Simon Johnson—one of the most prominent economists in America (former chief economist of the International Monetary Fund, professor of entrepreneurship at MIT, and author of the controversial and much debated “The Quiet Coup” in The Atlantic)—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. To restore health and balance to our economy, they argue, we must confront the political force of big finance and reverse the inside-the-Beltway consensus that what is good for Wall Street is good for Main Street.
 
Lucid, authoritative, and crucial for its timeliness, 13 Bankers is certain to be one of the most discussed books of the season.
Annotation:
In this stunning investigative report into the strong connections between Wall Street and Washington two journalists argue that the financial community has far too much influence--and the 2008 financial crisis bears that out.

Praise

"A detailed, dismaying and damning summation of recent Wall Street-Washington collusion--and the recurrent risk of financial folly." 02/15/2010

"[T]his book's great virtue is its skillful synthesis of what is already on the record....13 Bankers is persuasive penance--a well-documented appeal to embrace once again Thomas Jefferson's skepticism of concentrated banking power." - Louis Uchitelle 04/25/2010

"A detailed, dismaying and damning summation of recent Wall Street-Washington collusion--and the recurrent risk of financial folly." 02/15/2010

"[T]his book's great virtue is its skillful synthesis of what is already on the record....13 Bankers is persuasive penance--a well-documented appeal to embrace once again Thomas Jefferson's skepticism of concentrated banking power." - Louis Uchitelle 04/25/2010

Product Attributes
Product attributeBook Format:   Hardcover
Product attributeNumber of Pages:   0304
Product attributePublisher:   Pantheon Books
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