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Infectious Greed
As the global financial crisis unfolds people everywhere are seeking to understand how markets devolved to this perilous, volatile state. In this dazzling and meticulously researched work of financial history, first published in 2003, and now thoroughly revised and updated, law professor and financial expert Frank Partnoy tells the story of how “classical” Wall Street secu...more
Paperback, 496 pages
Published
September 8th 2009
by PublicAffairs
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So far so good. The $ values involved are over whelming and it certainly seems very hard to justify the amount of renumeration paid for the lack of tangible benefit created. But then that is the point the book is trying to make. I had no idea of how oddly some interest rates were calculated or how arbitrary the formulas used could be. It is quite a big book but oddly enough not overly wordy. I got lost in a few places in regards to who is who and how they were related to some of the institutions...more
Wow. I was concerned in the beginning because i was told that the math was pretty difficult in this book. However if you want to know, what the backs are doing in terms of risk and deceit in the financial marketplace, there is no better book. An eyeopener for sure. Think before Enron, before the latest crash. Banks going under, with billions of dollars at risk, changing the marketplace, creating and selling new financial products way ahead of the understanding of traders, CFO's, bank preside...more
Un libro imprescindible para entender cómo se gestó la crisis financiera de 2008.
Incredible book about the recent (~20 years) history of the financial markets. Very good at explaining the alphabet soup of financial innovations like CDOs, and gives detailed accounts of big meltdowns, such as LTCM and Enron. Makes the recent subprime lending implosion understandable and predictable.
El prefacio de la crisis mundial
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