In the wake of the financial crisis of 2008, the largest banks at its center have emerged bigger, more profitable, and more resistant to regulation, even as they continue to wield power in Washington. Without an effective government crackdown on their deleterious, conventional practices, these banksββtoo big to failβ and holding the global economy hostageβthreaten to create yet another crippling economic downturn. The choice that our political and economic system faces is stark: accede to the vested interests of an unfettered financial sector that runs up profits in good years and dumps its losses on taxpayers in lean years, or reform, through stringent regulation, the banking system as an engine of economic growth.
In 13 Bankers, Simon Johnsonβone of the most prominent economists in America (former chief economist of the International Monetary Fund, professor of entrepreneurship at MIT, and author of the controversial and much debated βThe Quiet Coupβ in The Atlantic)βand James Kwak examine not only how Wall Streetβs ideology, wealth, and political power among policy makers in Washington led to the financial debacle of 2008, but also what the lessons learned portend for the future. To restore health and balance to our economy, they argue, we must confront the political force of big finance and reverse the inside-the-Beltway consensus that what is good for Wall Street is good for Main Street.
Lucid, authoritative, and crucial for its timeliness, 13 Bankers is certain to be one of the most discussed books of the season.
Media Buzz
CBS Sunday Morning - November 13, 2011 Diane Rehm Show - NPR - October 20, 2010 PBS News Hour - June 17, 2010 PBS News Hour - May 13, 2010 Diane Rehm Show - NPR - April 29, 2010 Today - April 2, 2010 Diane Rehm Show - NPR - April 1, 2010 Colbert Report - March 30, 2010 All Things Considered - March 26, 2010 On Point - March 16, 2010 Diane Rehm Show - NPR - February 17, 2010
© 2003-2026