|Publisher:||Random House Inc|
|Publish Date:||Jan 2011|
|Number of Pages:||316|
|Shipping Weight (in pounds):||0.55|
|Product in Inches (L x W x H):||5.25 x 8.0 x 1.0|
|Introduction: 13 Bankers||p. 3|
|Thomas Jefferson and the Financial Aristocracy||p. 14|
|Other People's Oligarchs||p. 39|
|Wall Street Rising: 1980-||p. 57|
|Greed Is Good": The Takeover||p. 88|
|The Best Deal Ever||p. 120|
|Too Big to Fail||p. 153|
|The American Oligarchy: Six Banks||p. 189|
|Further Reading||p. 287|
Johnson (management, MIT) and Kwak (a former McKinsey consultant) offer their take on the financial crisis of 2007-08, exploring its historical background in the Founding Fathers' debate on banking and financial institutions. They also assert that the bailouts of America's largest banks have only made them bigger, more powerful, and more dangerous.
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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