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What They Do With Your Money: How the Financial System Fails Us and How to Fix It
by
A call to reboot capitalism and preserve $85 trillion in retirement savings for their owners—not for use as the financial industry’s ATM
Each year we pay billions in fees to those who run our financial system. The money comes from our bank accounts, our pensions, our borrowing, and often we aren’t told that the money has been taken. These billions may be justified if the f ...more
Each year we pay billions in fees to those who run our financial system. The money comes from our bank accounts, our pensions, our borrowing, and often we aren’t told that the money has been taken. These billions may be justified if the f ...more
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This was a great primer on the purposes, problems, and possible solutions of the financial system. The solutions seem incomplete, but I still found the book to be a great synthesis of context from historical, economic, corporate, academic and political perspectives.
An interesting review of the modern economics and its shortcomings. In case of pensions system it proposes to set up a collective fund where all the members would contribute the same amount to take into account differences in lifetime of its members. That way the overall cost would be much lower than the current approach where each individual has to pay differently according to his risk category. The authors argue for much wider transparency for the investors, legislative work that would force t
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Stephen Davis, Ph.D. is associate director of the Harvard Law School Programs on Corporate Governance and Institutional Investors.
See also: Stephen M. Davis
Librarians note: There is more than one author in the Goodreads database with this name.
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See also: Stephen M. Davis
Librarians note: There is more than one author in the Goodreads database with this name.
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