The Financial Crisis and the Free Market Cure: Why Pure Capitalism is the World Economy's Only Hope
The #1 Wall Street Journal Bestseller
“Required reading. . . . Shows how our economic crisis was a failure, not of the free market, but of government.”
Did Wall Street cause the mess we are in? Should Washington place stronger regulations on the entire financial industry? Can we lower unemployment rates by controlling the free market?
The answer is NO.
Not only is free market capitalism good for the economy, says industry expert John Allison, it is our only hope for recovery. As the nation’s longest-serving CEO of a top-25 financial institution, Allison has had a unique inside view of the events leading up to the financial crisis. He has seen the direct effect of government incentives on the real estate market. He has seen how government regulations only make matters worse.
And now, in this controversial wake-up call of a book, he has given us a solution. The national bestselling The Financial Crisis and the Free Market Cure reveals:
With shrewd insight, alarming insider details, and practical advice for today’s leaders, this electrifying analysis is nothing less than a call to arms for a nation on the brink. You’ll learn how government incentives helped blow up the real estate bubble to unsustainable proportions, how financial tools such as derivatives have been wrongly blamed for the crash, and how Congress fails to understand it should not try to control the market—and then completely mismanages it when it tries. In the end, you’ll understand why it’s so important to put “free” back in free market.
It’s time for America to accept the truth: the government can’t fix the economy because the government wrecked the economy. This book gives us the tools, the inspiration—and the cure.
What people are saying - Write a review
This book deals with very complex subject matter and explains it very well. Mr. Allison's book is incredibly well written and insightful. As a former banking executive, no one is more qualified than Mr. Allison to make these observations. I definitely recommend.
Save your country, protect and expand our wealth.
The destructive economic idiocy of the Clinton, Bush, and Obama administrations, made it supremely easy and fast to accumulate wealth. if you would lie to know how our nation could avoid further self destruction or how to protect yourself from further insanity, there is probably not much better place to start than this book.
16 TARP Troubled Asset Relief Program
17 What We Could Haveand Should HaveDone
Systematically Move Toward Pure Capitalism
20 Our ShortTerm Path and How to End Unemployment
21 The Deepest Cause Is Philosophical
22 The Cure is Also Philosophical
23 How the United States Could Go Broke
The Subprime Mortgage Market and Its Impact on Capital Markets
A Toxic Product of FDIC Insurance Coverage
10 How Freddie and Fannie Grew to Dominate the Home Mortgage Lending Business
11 FairValue Accounting and Wealth Destruction
13 The Myth that Deregulation Caused the Financial Crisis
14 How the SEC Made Matters Worse
15 Market Corrections Are Necessary but Panics Are Destructive and Avoidable
24 The Need for Principled Action
About the Author