13 Bankers: The Wall Street Takeover and the Next Financial Meltdown
In spite of its key role in creating the ruinous financial crisis of 2008, the American banking industry has grown bigger, more profitable, and more resistant to regulation than ever. Anchored by six megabanks whose assets amount to more than 60 percent of the country's gross domestic product, this oligarchy proved it could first hold the global economy hostage and then use its political muscle to fight off meaningful reform. 13 Bankers brilliantly charts the rise to power of the financial sector and forcefully argues that we must break up the big banks if we want to avoid future financial catastrophes.
Updated, with new analysis of the government's recent attempt to reform the banking industry, this is a timely and expert account of our troubled political economy.
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LibraryThing ReviewUser Review - epersonae - LibraryThing
Some things that I bookmarked while reading: "the core function of finance is financial intermediation -- moving money from a place where it is currently not needed to a place where it is needed. The ... Read full review
LibraryThing ReviewUser Review - rivkat - LibraryThing
Another history of the financial crisis, this one reaching back to the Jefferson/Hamilton dispute about the role of banking versus manufacture in the economy. The focus is tightest on ideological ... Read full review