Fool’s Gold: How the Bold Dream of a Small Tribe at J.P. Morgan Was Corrupted by Wall Street Greed and Unleashed a Catastrophe
- ISBN13: 9781416598572
- Condition: NEW
- Notes: Brand New from Publisher. No Remainder Mark.
Product DescriptionFrom award-winning Financial Times journalist Gillian Tett, who enraged Wall Street leaders with her newsbreaking warnings of a crisis more than a year ahead of the curve, Fool’s Gold tells the astonishing unknown story at the heart of the 2008 meltdown. Drawing on exclusive access to J. P. Morgan CEO Jamie Dimon and a tightly bonded team of bankers known on Wall Street as the “Morgan Mafia,” as well as in-depth interviews with dozens of other key players, including Treasury Secretary Timothy Geithner, Tett brings to life in gripping detail how the Morgan team’s bold ideas for a whole new kind of financial alchemy helped to ignite a revolution in banking, and how that revolution escalated wildly out of control. The deeply reported and lively narrative takes readers behind the scenes, to the inner sanctums of elite finance and to the secretive reaches of what came to be known as the “shadow banking” world. The story begins with the intense Morgan brainstorming. . . More >>
Wednesday, 24. February 2010 21:53
I also just listened to the Terri Gross NPR interview, and hope that her book reveals how she knew so much that the experts could not know. Our thesis is that economists are not scientifically educated enough even to the level of a “physics for poets” course to realize that what they study is subject to the 2nd law of thermodynamics, just as is the rest of reality. The equilibrium of supply and demand central to economic theory mimics the Newtonian balance of action-and-reaction, a model that we show is inadequate to explain economics. [. . . ] offers a paper that teaches enough thermodynamics to argue that profit in an economic system is analogous to increasing entropy in a thermodynamic system – and explains that increasing entropy is more like waste than like fuel. The expanding economy driven by value-less profit sent the system into thermo-economic equilibrium. I hope that interested readers will visit us.
Rating: 4 / 5
Wednesday, 24. February 2010 22:48
The author is being interviewed by Terry Gross on “Fresh Air” as I write this review.
She is a remarkably articulate, knowledgable, and able to explain complex financial matters. This certainly sounds like an insightful, interesting book that every shell-shocked investor should read.
How in the world did we get into today’s financial mess?
If this sounds a great deal like my review of “Street Fighters,” it is. Over the years I’ve learned that if one is interested in a particular period of history or a factual situation such as today’s financial debacle, it is an excellent idea to read two books on the subject (back-to-back, if you will) and not just one.
I am looking forward to reading both “Fool’s Gold” and “Street Fighters. ”
And to listening to more Terry Gross interviews!
Rating: 5 / 5
Wednesday, 24. February 2010 23:15
I have never received this book. Now looking at the number of people who are complaining about not getting their order from Deb’s Florida Books and getting no results from their communications, I am considering gathering all the names of those who have been robbed and starting class action suit against book seller and inquiring of my attorney how to move against Amazon.
I dare you to print this
Rating: 1 / 5
Thursday, 25. February 2010 0:41
obviously an EXTREMELY POOR,NEGLIGENT, DEFICIENT PROVIDER/ordered
a book in AUGUST[ AUGUST 9TH] AND AS OF MID SEPTEMBER HAVE yet to receive it
despite TWO UNRESPONSIVE E-MAIL REQUESTS/ACCORDINGLY!!
YOU HAVE BEEN DULY WARNED!
Rating: 1 / 5
Thursday, 25. February 2010 2:40
I just listened to the author on NPR today afternoon. What a dynamic lady and what a book!!!
Very well written and pinpoints where exactly things went downhill in 2007. Great read and there’s a lesson to be learned from this. Apart from the big lesson of course. . She says that non bankers should keep bankers in check and there should be transparency in banking. Opaque muddy views of the banking industry is what caused the juggernaut to obliviate the large excesses of the past 2 decades. . .
Good read. . .
Rating: 5 / 5