All the Devils are Here: The Hidden History of the Financial Crisis


Bethany McLean - 2010
    Should the blame fall on Wall Street, Main Street, or Pennsylvania Avenue? On greedy traders, misguided regulators, sleazy subprime companies, cowardly legislators, or clueless home buyers?According to Bethany McLean and Joe Nocera, two of America's most acclaimed business journalists, the real answer is all of the above-and more. Many devils helped bring hell to the economy. And the full story, in all of its complexity and detail, is like the legend of the blind men and the elephant. Almost everyone has missed the big picture. Almost no one has put all the pieces together.All the Devils Are Here goes back several decades to weave the hidden history of the financial crisis in a way no previous book has done. It explores the motivations of everyone from famous CEOs, cabinet secretaries, and politicians to anonymous lenders, borrowers, analysts, and Wall Street traders. It delves into the powerful American mythology of homeownership. And it proves that the crisis ultimately wasn't about finance at all; it was about human nature.Among the devils you'll meet in vivid detail:• Angelo Mozilo, the CEO of Countrywide, who dreamed of spreading homeownership to the masses, only to succumb to the peer pressure-and the outsized profits-of the sleaziest subprime lending.• Roland Arnall, a respected philanthropist and diplomat, who made his fortune building Ameriquest, a subprime lending empire that relied on blatantly deceptive lending practices.• Hank Greenberg, who built AIG into a Rube Goldberg contraption with an undeserved triple-A rating, and who ran it so tightly that he was the only one who knew where all the bodies were buried.• Stan O'Neal of Merrill Lynch, aloof and suspicious, who suffered from "Goldman envy" and drove a proud old firm into the ground by promoting cronies and pushing out his smartest lieutenants.• Lloyd Blankfein, who helped turn Goldman Sachs from a culture that famously put clients first to one that made clients secondary to its own bottom line.• Franklin Raines of Fannie Mae, who (like his predecessors) bullied regulators into submission and let his firm drift away from its original, noble mission.• Brian Clarkson of Moody's, who aggressively pushed to increase his rating agency's market share and stock price, at the cost of its integrity.• Alan Greenspan, the legendary maestro of the Federal Reserve, who ignored the evidence of a growing housing bubble and turned a blind eye to the lending practices that ultimately brought down Wall Street-and inflicted enormous pain on the country.Just as McLean's The Smartest Guys in the Room was hailed as the best Enron book on a crowded shelf, so will All the Devils Are Here be remembered for finally making sense of the meltdown and its consequences.

Dark Money: The Hidden History of the Billionaires Behind the Rise of the Radical Right


Jane Mayer - 2016
    But as Jane Mayer shows in this powerful, meticulously reported history, a network of exceedingly wealthy people with extreme libertarian views bankrolled a systematic, step-by-step plan to fundamentally alter the American political system.The network has brought together some of the richest people on the planet. Their core beliefs—that taxes are a form of tyranny; that government oversight of business is an assault on freedom—are sincerely held. But these beliefs also advance their personal and corporate interests: Many of their companies have run afoul of federal pollution, worker safety, securities, and tax laws.The chief figures in the network are Charles and David Koch, whose father made his fortune in part by building oil refineries in Stalin’s Russia and Hitler’s Germany. The patriarch later was a founding member of the John Birch Society, whose politics were so radical it believed Dwight Eisenhower was a communist. The brothers were schooled in a political philosophy that asserted the only role of government is to provide security and to enforce property rights.When libertarian ideas proved decidedly unpopular with voters, the Koch brothers and their allies chose another path. If they pooled their vast resources, they could fund an interlocking array of organizations that could work in tandem to influence and ultimately control academic institutions, think tanks, the courts, statehouses, Congress, and, they hoped, the presidency. Richard Mellon Scaife, the mercurial heir to banking and oil fortunes, had the brilliant insight that most of their political activities could be written off as tax-deductible “philanthropy.”These organizations were given innocuous names such as Americans for Prosperity. Funding sources were hidden whenever possible. This process reached its apotheosis with the allegedly populist Tea Party movement, abetted mightily by the Citizens United decision—a case conceived of by legal advocates funded by the network.The political operatives the network employs are disciplined, smart, and at times ruthless. Mayer documents instances in which people affiliated with these groups hired private detectives to impugn whistle-blowers, journalists, and even government investigators. And their efforts have been remarkably successful. Libertarian views on taxes and regulation, once far outside the mainstream and still rejected by most Americans, are ascendant in the majority of state governments, the Supreme Court, and Congress. Meaningful environmental, labor, finance, and tax reforms have been stymied.Jane Mayer spent five years conducting hundreds of interviews-including with several sources within the network-and scoured public records, private papers, and court proceedings in reporting this book. In a taut and utterly convincing narrative, she traces the byzantine trail of the billions of dollars spent by the network and provides vivid portraits of the colorful figures behind the new American oligarchy.Dark Money is a book that must be read by anyone who cares about the future of American democracy.

Once Upon a Car: The Fall and Resurrection of America's Big Three Automakers--GM, Ford, and Chrysler


Bill Vlasic - 2011
    automakers, General Motors, Ford, and Chrysler. Written by Bill Vlasic, the Detroit bureau chief for the New York Times and acclaimed author of Taken for a Ride, this eye-opening, richly anecdotal work is more than a riveting and insightful business history. It offers a clear-eyed view of the present day automobile industry and of Detroit, the city that spawned it, going far beyond the corporate and federal maneuverings to explore the impact the car companies’ failures have had on the overall economy, and more importantly what they have done to people’s lives.  Relevant and thought-provoking, Once Upon a Car is an unforgettable journey deep inside this quintessentially American industry.

The Keys to the Kingdom: The Rise of Michael Eisner and the Fall of Everybody Else


Kim Masters - 2000
    After rising through ABC television and Paramount Pictures, he awoke the sleeping giant of Disney and sent it stomping across the entertainment landscape. But since the tragic death of Frank Wells in a helicopter crash in 1994, he has lacked -- for the first time in his career -- a colleague who could temper his personality.The result, writes Kim Masters, has been a slide into a Nixonian paranoia and isolation. In The Keys to the Kingdom, Masters crafts a gripping account of this larger-than-life story of larger-than-life hubris, combining an insightful analysis of power in Hollywood with a vivid, deeply researched narrative that brings the personalities, the enmities, and the corporate mayhem to life.

How To Build Your Successful Online Teaching Business (Online Entrepreneurship Book 1)


Vladimir Raykov - 2016
     Do you want to turn your passion into passive income streams? Yes, you can get paid and do, teach what you love! Do you want to build an online teaching business with little to no investment up front? Do you want to become an entrepreneur? Do you want to work from home? If you’ve answered “yes” to even one of these questions then reading this eBook may turn out to be the best decision you’ve made this year!The ultimate purpose of this training (eBook, PDF files, 3 in-depth video sessions) is to teach you how to create products for your online teaching in a form of video courses. Howdy,My name is Vladimir Raykov.I’m a best-selling online instructor teaching over 12000 students and 20 online courses. I’m also the creator of STEP-BY-STEP TO YOUR FIRST 1000 STUDENTS program. During the last year, I’ve been gathering the best techniques for creating an online course and I’ve put them into this free training that is intended especially for beginners. I will completely reveal the exact 3-Step System for producing high-quality courses that I used to reach 5 figures for my online teaching business, doing it part-time and without spending money on advertising.HERE IS JUST A FRACTION OF WHAT YOU WILL LEARN FROM MY EBOOK AND FREE VIDEO TRAINING• Top 7 reasons why you should create an online course that generates income.• Top 7 (costly) mistakes beginner online instructors make and how to avoid them.• The 3-Step System for producing online courses with the velocity of light.• The top 4 mega-niches which are responsible for over 80% of the revenue generated by online instructors.• How to structure and organize your course. More specifically, how to make an outline for your course and the most effective internal structure of ALL your lectures.• All the tools (software) you will need to create products for your online teaching business of an utmost quality.• 6 Steps of a lecture creation.• The exact technical specifications for your video lectures.• The microphone I use to record crystal clear audio files.• How to get a professionally designed thumbnail for your course for free.• How to write a winning title for your course – basic copywriting skills part 1.• How to write a winning description for your course – basic copywriting skills part 2.• The best platforms to launch your course as a self-published instructor and their business models. • And much, much more!THE BEST PART• You don’t need to have a website.• You don’t have to pay for advertising.• You don’t have to FILM yourself. • You don’t have to be a technical savvy.• You don’t have to worry about video hosting. • You don’t have to have a higher academic degree.

Conspiracy of Fools


Kurt Eichenwald - 2005
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That Will Never Work: The Birth of Netflix and the Amazing Life of an Idea


Marc Randolph - 2019
    Late fees were ubiquitous, video-streaming unheard was of, and widespread DVD adoption seemed about as imminent as flying cars. Indeed, these were the widely accepted laws of the land in 1997, when Marc Randolph had an idea. It was a simple thought—leveraging the internet to rent movies—and was just one of many more and far worse proposals, like personalized baseball bats and a shampoo delivery service, that Randolph would pitch to his business partner, Reed Hastings, on their commute to work each morning.But Hastings was intrigued, and the pair—with Hastings as the primary investor and Randolph as the CEO—founded a company. Now with over 150 million subscribers, Netflix's triumph feels inevitable, but the twenty first century's most disruptive start up began with few believers and calamity at every turn. From having to pitch his own mother on being an early investor, to the motel conference room that served as a first office, to server crashes on launch day, to the now-infamous meeting when Netflix brass pitched Blockbuster to acquire them, Marc Randolph's transformational journey exemplifies how anyone with grit, gut instincts, and determination can change the world—even with an idea that many think will never work.What emerges, though, isn't just the inside story of one of the world's most iconic companies. Full of counter-intuitive concepts and written in binge-worthy prose, it answers some of our most fundamental questions about taking that leap of faith in business or in life: How do you begin? How do you weather disappointment and failure? How do you deal with success? What even is success?From idea generation to team building to knowing when it's time to let go, That Will Never Work is not only the ultimate follow-your-dreams parable, but also one of the most dramatic and insightful entrepreneurial stories of our time.

The AIG Story


Maurice R. Greenberg - 2013
    They regale readers with riveting vignettes of how AIG grew from a modest group of insurance enterprises in 1970 to the largest insurance company in world history. They help us understand AIG's distinctive entrepreneurial culture and how its outstanding employees worldwide helped pave the road to globalization.Corrects numerous common misconceptions about AIG that arose due to its role at the center of the financial crisis of 2008. A unique account of AIG by one of the iconic business leaders of the twentieth century who developed close relationships with many of the most important world leaders of the period and helped to open markets everywhere Offers new critical perspective on battles with N. Y. Attorney General Eliot Spitzer and the 2008 U.S. government seizure of AIG amid the financial crisis Shares considerable information not previously made public The AIG Story captures an impressive saga in business history--one of innovation, vision and leadership at a company that was nearly--destroyed with a few strokes of governmental pens. The AIG Story carries important lessons and implications for the U.S., especially its role in international affairs, its approach to business, its legal system and its handling of financial crises.

The Dollar Trap: How the U.S. Dollar Tightened Its Grip on Global Finance


Eswar Prasad - 2013
    dollar’s dominance seems under threat. The near collapse of the U.S. financial system in 2008–2009, political paralysis that has blocked effective policymaking, and emerging competitors such as the Chinese renminbi have heightened speculation about the dollar’s looming displacement as the main reserve currency. Yet, as The Dollar Trap powerfully argues, the financial crisis, a dysfunctional international monetary system, and U.S. policies have paradoxically strengthened the dollar’s importance. Eswar Prasad examines how the dollar came to have a central role in the world economy and demonstrates that it will remain the cornerstone of global finance for the foreseeable future. Marshaling a range of arguments and data, and drawing on the latest research, Prasad shows why it will be difficult to dislodge the dollar-centric system. With vast amounts of foreign financial capital locked up in dollar assets, including U.S. government securities, other countries now have a strong incentive to prevent a dollar crash. Prasad takes the reader through key contemporary issues in international finance—including the growing economic influence of emerging markets, the currency wars, the complexities of the China-U.S. relationship, and the role of institutions like the International Monetary Fund—and offers new ideas for fixing the flawed monetary system. Readers are also given a rare look into some of the intrigue and backdoor scheming in the corridors of international finance.The Dollar Trap offers a panoramic analysis of the fragile state of global finance and makes a compelling case that, despite all its flaws, the dollar will remain the ultimate safe-haven currency.

Wealth Made Easy: Millionaires and Billionaires Help You Crack the Code to Getting Rich


Greg S. Reid - 2019
    You need to win and keep winning. To get there you need great connections and insider advice.But it's not as simple as tracking down the elite few - the wealth hackers of the world - and getting them to spill their secrets. . . Or is it?©2019 Dr. Greg Reid (P)2019 Brilliance Publishing, Inc., all rights reserved.

Shift: Inside Nissan's Historic Revival


Carlos Ghosn - 2004
    Eighteen short months later, Nissan was back in the black, and within several more years it had become the most profitable large automobile company in the world. In SHIFT, Ghosn describes how he went about accomplishing the seemingly impossible, transforming Nissan once again into a powerful global automotive manufacturer. The Brazilian-born, French-educated son of Lebanese parents, Ghosn first learned the management principles and practices that would shape his decisions at Nissan while rising through the ranks at Michelin and Renault. Upon his arrival at Nissan, Ghosn began his new position by embarking on a three-month intensive examination of every aspect of the business. By October 1999 he was ready to announce his strategy to turn the company around with the Nissan Revival Plan. In the plan, he consistently challenged the tradition-bound thinking and practices of Japanese business when they inhibited Nissan’s effectiveness. Ghosn closed plants, laid off workers, broke up long-standing supply networks, and sold off marginal assets to focus on the company’s core business. But slashing costs was just the first step in Nissan’s recovery. In fact, Ghosn introduced changes in every corner of the company, from manufacturing and engineering to marketing and sales. He updated Nissan’s car and truck lineup, took risks on dynamic new designs, and demanded improvements in quality—strategies that quickly burnished Nissan’s image in the marketplace, and re-established the company in the minds of consumers as a leader in innovation and engineering.Like the best-selling memoirs of Jack Welch, Lou Gerstner, and Larry Bossidy, SHIFT is a fascinating behind-the-scenes look at what it takes to transform and re-create a world-class company. Written by one of the world’s most successful and acclaimed CEOs, SHIFT is an invaluable guide for business readers everywhere.

Stick It Up Your Punter!: The Uncut Story of the Sun Newspaper


Peter Chippindale - 1990
    The classic account of modern British journalism, now updated and re-issued.

The Clash of the Cultures: Investment vs. Speculation


John C. Bogle - 2012
    Bogle has witnessed a massive shift in the culture of the financial sector. The prudent, value-adding culture of long-term investment has been crowded out by an aggressive, value-destroying culture of short-term speculation. Mr. Bogle has not been merely an eye-witness to these changes, but one of the financial sector’s most active participants. In The Clash of the Cultures, he urges a return to the common sense principles of long-term investing.Provocative and refreshingly candid, this book discusses Mr. Bogle's views on the changing culture in the mutual fund industry, how speculation has invaded our national retirement system, the failure of our institutional money managers to effectively participate in corporate governance, and the need for a federal standard of fiduciary duty.Mr. Bogle recounts the history of the index mutual fund, how he created it, and how exchange-traded index funds have altered its original concept of long-term investing. He also presents a first-hand history of Wellington Fund, a real-world case study on the success of investment and the failure of speculation. The book concludes with ten simple rules that will help investors meet their financial goals. Here, he presents a common sense strategy that "may not be the best strategy ever devised. But the number of strategies that are worse is infinite."The Clash of the Cultures: Investment vs. Speculation completes the trilogy of best-selling books, beginning with Bogle on Investing: The First 50 Years (2001) and Don't Count on It! (2011)

The Story of Facebook


Sara Gilbert - 2012
    He left Harvard after his sophomore year to focus on the website, whose user base steadily grew to more than 250 million people, making Zuckerberg a billionaire. He was also named “Man of the Year” by Time magazine in 2010.We bring you the story about the origins and leaders of Facebook, who gave communication and social networking a whole new meaning.JAICO’S CREATIVE COMPANIES SERIES explores how today’s great companies operate and inspires young readers to become the entrepreneurs and businessmen of tomorrow.

Andrew Carnegie


David Nasaw - 2006
     Celebrated historian David Nasaw, whom The New York Times Book Review has called "a meticulous researcher and a cool analyst," brings new life to the story of one of America's most famous and successful businessmen and philanthropists- in what will prove to be the biography of the season. Born of modest origins in Scotland in 1835, Andrew Carnegie is best known as the founder of Carnegie Steel. His rags to riches story has never been told as dramatically and vividly as in Nasaw's new biography. Carnegie, the son of an impoverished linen weaver, moved to Pittsburgh at the age of thirteen. The embodiment of the American dream, he pulled himself up from bobbin boy in a cotton factory to become the richest man in the world. He spent the rest of his life giving away the fortune he had accumulated and crusading for international peace. For all that he accomplished and came to represent to the American public-a wildly successful businessman and capitalist, a self-educated writer, peace activist, philanthropist, man of letters, lover of culture, and unabashed enthusiast for American democracy and capitalism-Carnegie has remained, to this day, an enigma. Nasaw explains how Carnegie made his early fortune and what prompted him to give it all away, how he was drawn into the campaign first against American involvement in the Spanish-American War and then for international peace, and how he used his friendships with presidents and prime ministers to try to pull the world back from the brink of disaster. With a trove of new material-unpublished chapters of Carnegie's Autobiography; personal letters between Carnegie and his future wife, Louise, and other family members; his prenuptial agreement; diaries of family and close friends; his applications for citizenship; his extensive correspondence with Henry Clay Frick; and dozens of private letters to and from presidents Grant, Cleveland, McKinley, Roosevelt, and British prime ministers Gladstone and Balfour, as well as friends Herbert Spencer, Matthew Arnold, and Mark Twain-Nasaw brilliantly plumbs the core of this facinating and complex man, deftly placing his life in cultural and political context as only a master storyteller can.