The Battle for the Soul of Capitalism
There is no one better qualified to tell us about the failures of the American financial system and the grotesque abuses that have taken place in recent years than John Bogle, who as founder and former chief executive of the Vanguard mutual funds group has seen firsthand the innermost workings of the financial industry. A zealous advocate for the small investor for more than fifty years, Bogle has championed the restoration of integrity in industry practices. As an astute observer and commentator, he knows that a trustworthy business and financial complex is essential to America’s continuing leadership in the world and to social and economic progress at home.
This book tells not just a story about what went wrong but, more important, the story of why we lost our way and of how we can right our course. Bogle argues for a return to a governance structure in which owners’ capital that has been put at risk is used in their interests rather than in the interests of corporate and financial managers. Given that ownership is now consolidated in the hands of relatively few large mutual and pension funds, the specific reforms Bogle details in this book are essential as well as practical. Every investor, analyst, Wall-Streeter, policy maker, and businessperson should read this deeply informed book.
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Review: The Battle for the Soul of CapitalismUser Review - Amber - Goodreads
This book hits the nail on the head with the succinct assessment that we have lost our ownership society. This is no where more evident than in Generation Y, where more and more you see a hesitancy to ... Read full review
Review: The Battle for the Soul of CapitalismUser Review - CB Brooks - Goodreads
More in depth discussions of the ways financial firms put their own profits ahead of their customers. Good for readers interested in mutual funds and investing. Sentences tend to be long and in two parts. If it wasn't for Bogle and Vanguard, savers would never get fair treatment. Read full review
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