Slapped by the Invisible Hand: The Panic of 2007
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Slapped by the Invisible Hand: The Panic of 2007

3.84 of 5 stars 3.84  ·  rating details  ·  32 ratings  ·  8 reviews
Originally written for a conference of the Federal Reserve, Gary Gorton's "The Panic of 2007" garnered enormous attention and is considered by many to be the most convincing take on the recent economic meltdown. Now, in Slapped by the Invisible Hand, Gorton builds upon this seminal work, explaining how the securitized-banking system, the nexus of financial markets and inst...more
Hardcover, 223 pages
Published March 8th 2010 by Oxford University Press, USA (first published 2010)
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Tbv
I liked this book, even though I disagree with nearly all of the author's policy prescriptions.

Since most all of this book's content consist of previously published research papers, most of this book can be had for free with a little internet searching.

UChicagoLaw
"One of the most illuminating of the many books on the financial crisis." - Eric Posner
Justin Tapp
Gorton is a Yale Professor of Management and Finance and an expert in the history of banking and financial markets. Perhaps no one has done as much work on the makeup of the "shadow banking" system as he has. This book is a compilation of a few of his papers, one of which was famously presented at the Fed's Jackson Hole conference in 2008. Gorton's work is at the top of Ben Bernanke's financial crisis reading list.

What is a bank--can you define it? If banks are regulated, but certain non-banks e...more
Hana
Technical, demanding and often turgid academic prose, but this book and Gary Gorton's original scholarly articles are essential reading for those trying to understand the underlying dynamics of the credit crisis. Worth picking up simply for the diagrams illustrating collateralized debt securities and similar products. Not for the lazy or faint of heart, but if you are willing to go beneath the headline 'causes' touted by talking heads and politicians and want to try to understand why the 2007-20...more
B
Without a doubt, this is the single best treatise out there if you're looking to understand the financial crisis of 2007-8. Gorton is a master of the subject, and although some of the book is highly technical, most is easily understood by those not deeply involved in the banking system.
Ketsugami
Very interesting read, hampered somewhat by dense, academic-style prose. Also quite technical in places -- this is about the edge of my ability (as a well-read amateur) to understand economics literature.
Alan
Dec 21, 2010 Alan is currently reading it
At times pretty complex. However Gorton definitely owns the subject and I am amazed at the complexity involved in today's global financial system.
Christopher Culp
For financial economists, this is the book to read on the crisis and the underlying structured finance market.
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