{short description of image}  


Rana Foroohar

Sub-title: The Rise of Finance and the Fall of American Business, Crown Business, NY., 388 pgs., index, bibliography, notes


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.




Chapter 1 - The Rise of Finance


Chapter 2 - The Fall of Business


Chapter 3 - What an MBA Won't Teach You


Chapter 4 - Barbarians at the Gate


Chapter 5 - We're All Bankers Now


Chapter 6 - Financial Weapons of Mass Destruction


Chapter 7 - When Wall Street Owns Main Street


Chapter 8 - The End of Retirement


Chapter 9 - The Artful Dodgers


Chapter 10 - The Revolving Door


Chapter 11 - How to Put Finance Back in Service to Business and Society

{short description of image}

Barry Ritholtz - Bailout Nation

{short description of image}

Peter Conti-Brown - The Power and Independence of the Federal Reserve

{short description of image}

Danielle DiMartino Booth - FED UP: An insider's Take on Why the Federal Reserve is Bad for America

{short description of image}

Charles Gasparino - Bought and Paid For


Return to Xenophon.