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13 Bankers

13 Bankers Cover

13 Bankers

The Wall Street Takeover and the Next Financial Meltdown

By Simon Johnson; James Kwak; Erik Synnestvedt (Narrated by)

Tantor Media Inc, MP3 CD, 9781400166848

Publication Date: March 31, 2010

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Description
Even after the ruinous financial crisis of 2008, America is still beset by the depredations of an oligarchy that is now bigger, more profitable, and more resistant to regulation than ever. Anchored by six megabanks, which together control assets amounting to more than 60 percent of the country's gross domestic product, these financial institutions (now more emphatically "too big to fail") continue to hold the global economy hostage, threatening yet another financial meltdown with their excessive risk-taking and toxic "business as usual" practices. How did this come to be-and what is to be done? These are the central concerns of 13 Bankers, a brilliant, historically informed account of our troubled political economy. In 13 Bankers, prominent economist Simon Johnson and James Kwak give a wide-ranging, meticulous, and bracing account of recent U.S. financial history within the context of previous showdowns between American democracy and Big Finance. They convincingly show why our future is imperiled by the ideology of finance (finance is good, unregulated finance is better, unfettered finance run amok is best) and by Wall Street's political control of government policy pertaining to it. The choice that America faces is stark: whether Washington will accede to the vested interests of an unbridled 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 first and foremost an engine of economic growth. To restore health and balance to our economy, Johnson and Kwak make a radical yet feasible and focused proposal: reconfigure the megabanks to be "small enough to fail.


About the Author
Simon Johnson is the Ronald A. Kurtz Professor of Entrepreneurship at MIT's Sloan School of Management and coauthor, with James Kwak, of The Baseline Scenario, a leading economic blog. James Kwak has had a successful business career as a consultant for McKinsey & Company and as a software entrepreneur.

Actor Erik Synnestvedt has recorded nearly two hundred audiobooks, including "The Day We Found the Universe" by Marcia Bartusiak and "Twitter Power" by Joel Comm.


Praise For 13 Bankers

"Erik Synnestvedt reads with a strong and clear voice and an appropriate edge of indignation at the hubris of our nation's most powerful bankers." ---Publishers Weekly Audio Review

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