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Sub-title: The Rise of Finance and the Fall of American
Business, Crown Business, NY., 388 pgs., index, bibliography, notes
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Reviewer comment -
I am somewhat disappointed after reading this important book. I was hoping for
a solid, academic analysis. Instead we have a journalistic rant. In other words
it is the vocabulary and rhetoric that I believe detracts from the valuable
content. I imagine I should expect this from a professional journalist at
Time and CNN. The idea is to stir up necessary emotional responses and
outrage that the author hopes will result in political action. But one is at
least encouraged by the ample citations to sources in the end notes and
bibliography.
In the content itself, the author continually uses the unfortunately common
term, 'debt', as one of the major problems. But 'debt' is the by-product of
'credit'. If everyone would use 'credit' it would be more apparent to the
public that a major problem is that the world is floating on a cloud of
'credit' which by now, for instance, already is over 95% of the U.S. money
supply itself. And it is the continual expansion of 'credit' in a
self-defeating effort to expand economic activity which underlies the financial
gamesmanship that she so rightly wants stopped.
The chapter headings provide an outline of the content. I hope to fill in with
more comments on each soon.
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Introduction
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Chapter 1 - The Rise of Finance
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Chapter 2 - The Fall of Business
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Chapter 3 - What an MBA Won't Teach You
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Chapter 4 - Barbarians at the Gate
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Chapter 5 - We're All Bankers Now
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Chapter 6 - Financial Weapons of Mass Destruction
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Chapter 7 - When Wall Street Owns Main Street
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Chapter 8 - The End of Retirement
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Chapter 9 - The Artful Dodgers
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Chapter 10 - The Revolving Door
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Chapter 11 - How to Put Finance Back in Service to Business and Society
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Barry Ritholtz - Bailout Nation
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Peter Conti-Brown - The Power and Independence of the Federal
Reserve
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Danielle DiMartino Booth - FED UP: An insider's Take on Why the
Federal Reserve is Bad for America
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Charles Gasparino - Bought and Paid For
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