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“In 1988 two consultants, Jim Rosenthal and Juan Ocampo, wrote Securitization of Credit, a road map that helped Citibank and Chase Manhattan survive the South American debt crisis. The book, the first on a subject that soon washed over the financial world like a tsunami, showed the banks, unable to earn their way out of their bad debt situation, that by securitizing the loans on their books—packaging them up and selling them into the secondary debt markets—they could effectively walk away from the loans, albeit while still taking a hit to their balance sheets.”
― The Firm
― The Firm
“What’s more, a real premium began to be placed on being part of this knowledge oeuvre—not just in what McKinsey knew but in who at McKinsey knew these subject areas. An unstated understanding emerged that if you were a logistics expert in, say, the retail sector and you were called by a partner you had never met who mainly did work with pharmaceutical companies, you would nevertheless return the call. That reputation for contributing was your asset in the firm.”
― The Firm
― The Firm
“The traditional religious bedrock—worship, God, love and compassion, even the very concept of faith—is wholly absent from its precepts. And, unique among modern religions, Scientology charges members for every service, book, and course offered, promising greater and greater spiritual enlightenment with every dollar spent. People don’t “believe” in Scientology; they buy into it.”
― Inside Scientology: The Story of America's Most Secretive Religion
― Inside Scientology: The Story of America's Most Secretive Religion
“What unites all of these individual Scientologists is a belief in their inherent spiritual imperfection, which can be rectified—if not totally reversed—only through intense study of, and rigid adherence to, the teachings of a single man: Scientology’s founder, L. Ron Hubbard. Though he has been dead some twenty years, Hubbard’s followers regard him as a living, vital entity—a personal Jesus of sorts.”
― Inside Scientology: The Story of America's Most Secretive Religion
― Inside Scientology: The Story of America's Most Secretive Religion
“In many important ways the book really was an attack on McKinsey thinking, on the idea that the secrets of success could be found in an analytical framework or in a new corporate structure. It was an attack on the rationalist idea that businesses were machines that could be fine-tuned. The work of Peters and Waterman served to remind managers about first principles in business: If they didn’t listen to their customers or employees, then the rest was irrelevant. If the strategy revolution was forcing companies to look outward more than they ever had before, what Excellence did was force that gaze right back inside again. And it wasn’t talking only about financial management. It was also talking about how you treated the people who worked for you. It was, in short, the first great manifesto of the idea of corporate culture.”
― The Firm
― The Firm
embeddedfinance’s 2025 Year in Books
Take a look at embeddedfinance’s Year in Books, including some fun facts about their reading.
142 books
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143 friends
157 books
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304 friends
3 books
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79 friends
0 books
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235 friends
0 books
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39 friends
428 books
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25 friends
23 books
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93 friends
39 books
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23 friends
More friends…
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Children's and Food
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