Book Name : The Gods That Failed - How Blind Faith In Markets Has Cost Us Our Future
Author : Larry Elliott
What is it about : The dizzying heights of power the world's financial communities were able to wield against the national governments and the crazy bonuses being awarded for their excessive risk-taking (with investor's monies), are depicted vividly in this lucid and at times incredulous "news" summary in the days preceding the onset of the 2008 financial tsunami. Tales of these financial institutions taking on ridiculous gambles in an environment where seemingly they make their own rules haunt us with the question - just how did we (they) get into this mess ? In a nutshell, greed conquers all in its path.
Some thoughts after having read the book : Hey man, anything new under the sun ? From the tulip craze to the .com boom and bust, the road to riches and destruction are littered with good-intentions - pensions for your golden retirement, insurance schemes designed to reduce your exposure, immediate materialistic ownership; all these well-meaning designs and systems went out of control amidst the lethal cocktail of greed, power and blind faith - a cliche but how true. The end game - in this game of passing the grenade, those bigger fools left last holding on to the exploding grenade will be the casualties.
Would I recommend this book to you : Yes ! Even if you have not been a victim of financial losses in this once-in-a-lifetime crisis, your retirement future or the prospects of your siblings would forever be altered and affected as a result of the crazy doings of The Gods That Failed. The book puts into perspective and challenge all those treasured financial management philosophies as "make your money work harder", "don't put all your eggs in one basket". The question is how soon we will forget the lessons and bring on the next crisis. Read on.
Author : Larry Elliott
What is it about : The dizzying heights of power the world's financial communities were able to wield against the national governments and the crazy bonuses being awarded for their excessive risk-taking (with investor's monies), are depicted vividly in this lucid and at times incredulous "news" summary in the days preceding the onset of the 2008 financial tsunami. Tales of these financial institutions taking on ridiculous gambles in an environment where seemingly they make their own rules haunt us with the question - just how did we (they) get into this mess ? In a nutshell, greed conquers all in its path.
Some thoughts after having read the book : Hey man, anything new under the sun ? From the tulip craze to the .com boom and bust, the road to riches and destruction are littered with good-intentions - pensions for your golden retirement, insurance schemes designed to reduce your exposure, immediate materialistic ownership; all these well-meaning designs and systems went out of control amidst the lethal cocktail of greed, power and blind faith - a cliche but how true. The end game - in this game of passing the grenade, those bigger fools left last holding on to the exploding grenade will be the casualties.
Would I recommend this book to you : Yes ! Even if you have not been a victim of financial losses in this once-in-a-lifetime crisis, your retirement future or the prospects of your siblings would forever be altered and affected as a result of the crazy doings of The Gods That Failed. The book puts into perspective and challenge all those treasured financial management philosophies as "make your money work harder", "don't put all your eggs in one basket". The question is how soon we will forget the lessons and bring on the next crisis. Read on.
0 comments:
Post a Comment