Book picks similar to
The Subprime Virus: Reckless Credit, Regulatory Failure, and Next Steps by Kathleen C. Engel
economics
financial-crisis
oberlin-authors
politics
Investing To Save The Planet: How Your Money Can Make a Difference
Alice Ross - 2020
Together, we can and must act now' Al Gore, former Vice President of the United States 'Everyone's savings account and pension can meaningfully contribute. Ross tells us how in this clear, easy to understand yet transformative book' Christiana Figueres, Founding Partner, Global Optimism and Former Executive Secretary, United Nations Framework Convention on Climate Change 'I can't imagine a more important book at the moment. A detailed, action-oriented guide on how to make our money matter and save us and the planet we live on' Richard Curtis, Writer, Director, Co-Founder of Red Nose Day and UN Sustainable Development Goals Advocate Investing responsibly is one of the most powerful ways that you can fight climate change. No longer a niche sector for rebel fund managers, conscious investing has the potential to raise huge sums of money to the companies and organisations on the front line fighting the climate crisis and make investors positive returns in the process. In this essential introduction to green investing, Alice Ross shows you how you can turn your savings and pensions, however big or small, into a force for change. You will learn: - Which sectors are leading the charge by developing cutting-edge solutions; from smart farming to renewable energy- How to cut through 'alphabet soup' jargon and identify 'greenwashing' - The ways you can maximise your economic power and hold those you're investing in to account 'Changing the way that we invest is one of the most powerful levers we have for solving climate change. This hugely interesting and immensely practical book not only explains why changing how we invest is so critically important but also provides a set of powerful tools for actually doing it' Rebecca Henderson, John and Natty McArthur University Professor at Harvard University and author of Reimagining Capitalism 'Explains the power you have, through your investment choices, to accelerate the path toward a sustainable clean energy future. Read this book and be empowered to create a better future for the planet' Michael Mann, Distinguished Professor, Penn State University, author of The New Climate War
The Candidate: Jeremy Corbyn's Improbable Path to Power
Alex Nunns - 2016
Jeremy Corbyn, a lifelong and uncompromising socialist, was elected to head the Labour Party. Corbyn didn’t just win the leadership contest, he trounced his opponents. The establishment was aghast. The official opposition now had as its leader a man with a plan, according to the conservative Daily Telegraph, “to turn Britain into Zimbabwe.”How this remarkable twist of events came about is the subject of Alex Nunns’ highly-readable and richly-researched account. Drawing on first-hand interviews with those involved in the campaign, including its most senior figures, Nunns traces the origins of Corbyn’s victory in the dissatisfactions with Blairism stirred by the Iraq War and the 2008 financial crash, the move to the left of the trades unions, and changes in the electoral rules of the Labour Party that turned out to be surreally at odds with the intentions of those who introduced them. The system of one-member-one-vote, which delivered Corbyn’s success, was opposed by those on the left and was heralded by Tony Blair who described it as “a long overdue reform that… I should have done myself.”Giving full justice to the dramatic swings and nail-biting tensions of an extraordinary summer in UK politics, Nunns’ telling of a story that has received widespread attention but little understanding is as illuminating as it is entertaining. He teases out a plot-line of such improbability that it would be unusable in a work of fiction, providing the first convincing explanation of a remarkable phenomenon with enormous consequences for the left in Britain and beyond.
Deadly Ambition
Donna Foley Mabry - 2010
The public hates her and so does he. Locke decides that it would be easier for the President to win re-election if he were a grieving widower and plots her murder. Nothing goes according to plan, and the attempted assassination sets off a chain of events that puts Locke only one murder away from gaining the Oval Office for himself. The FBI, the Secret Service, and the CIA can't find the killer, but a veteran cop and the head of the President's security detail work together to unravel the clues. The question is, can they find the solution in time to save the next victim? Fresh as today's headlines, 'Deadly Ambition' takes you to the inside world of Washington D.C.'s power brokers and outrageous characters. There's the slovenly and pragmatic head of the DNC, a Vice President far too fond of women, some of them not old enough to drive, and the Presidential aide whose credit card bills have gotten so far ahead of him that he will do anything to pay them off. There's a Secret Service Agent willing to give his own life to protect his charge, and more than one assassin who believes that killing a President is easy, but knows that getting away with it is the hard part.
13 Bankers: The Wall Street Takeover and the Next Financial Meltdown
Simon Johnson - 2010
Anchored by six megabanks—Bank of America, JPMorgan Chase, Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley—which together control assets amounting, astonishingly, to more than 60 percent of the country’s gross domestic product, these financial institutions (now more emphatically “too big to fail”) continue to hold the global economy hostage, threatening yet another financial meltdown with their excessive risk-taking and toxic “business as usual” practices. How did this come to be—and what is to be done? These are the central concerns of 13 Bankers, a brilliant, historically informed account of our troubled political economy. In 13 Bankers, Simon Johnson—one of the most prominent and frequently cited economists in America (former chief economist of the International Monetary Fund, Professor of Entrepreneurship at MIT, and author of the controversial “The Quiet Coup” in The Atlantic)—and James Kwak give a wide-ranging, meticulous, and bracing account of recent U.S. financial history within the context of previous showdowns between American democracy and Big Finance: from Thomas Jefferson to Andrew Jackson, from Theodore Roosevelt to Franklin Delano Roosevelt. They convincingly show why our future is imperiled by the ideology of finance (finance is good, unregulated finance is better, unfettered finance run amok is best) and by Wall Street’s political control of government policy pertaining to it. As the authors insist, the choice that America faces is stark: whether Washington will accede to the vested interests of an unbridled financial sector that runs up profits in good years and dumps its losses on taxpayers in lean years, or reform through stringent regulation the banking system as first and foremost an engine of economic growth. To restore health and balance to our economy, Johnson and Kwak make a radical yet feasible and focused proposal: reconfigure the megabanks to be “small enough to fail.” Lucid, authoritative, crucial for its timeliness, 13 Bankers is certain to be one of the most discussed and debated books of 2010.
Generation HK: Seeking Identity in China's Shadow: Penguin Specials
Ben Bland - 2017
From radically different backgrounds yet with a common legacy, having grown up in post-handover Hong Kong, these young people have little attachment to the era of British colonial rule or today's China. Instead, they see themselves as Hong Kongers, an identity both reinforced and threatened by the rapid expansion of Beijing's influence. Amid great political and social uncertainty, Generation HK is trying to build a brighter future. Theirs is a truly captivating coming-of-age story that reflects the bitter struggles beneath the gleaming facade of modern Hong Kong.
Shredded: Inside RBS: The Bank that Broke Britain
Ian Fraser - 2013
It’s an engaging, if in some ways infuriating, tale of how self-serving bank executives systematically broke the rules, lent with astonishing recklessness, abused customers and got suckered by Wall Street – before ultimately dumping their mess on taxpayers. Fraser doesn’t just point the finger at Royal’s clueless bankers. He also expertly chronicles the role of misguided regulations, captured supervisors and deluded politicians in fuelling this catastrophe.’ – Yves Smith, founder of Naked Capitalism and author of econned: How Unenlightened Self Interest Undermined Democracy and Corrupted Capitalism ‘This book should be posted through the letterbox of every taxpayer in Britain.’ – David Mellor, former chief secretary to the Treasury and secretary of state for National Heritage ‘Ian Fraser has spotted stories, uncovered scandals and written about them in a detailed and accessible way that leaves many other financial journalists in the dust.’ – Eamonn O’Neill, director of the MSc course in investigative journalism at the University of Strathclyde At its zenith, the Royal Bank of Scotland was the world’s biggest bank. It had assets of $3 trillion, employed over 200,000 people, had branches on every high street and was admired and trusted by millions of borrowers and investors. Now the mere mention of its name causes anger and resentment, and its former CEO, Fred Goodwin, is reviled as one of the architects of the worst financial crisis since 1929. In Shredded, Ian Fraser lifts the lid on the catastrophic mistakes that led the bank to the brink of collapse, scrutinizing the role played by RBS’s directors, who failed to check Goodwin’s hubris, the colleagues who were overawed by his despotic leadership style, the politicians who created a regulatory free-for-all in which banks went virtually unsupervised, and the investors who egged Goodwin on. As more and more toxic details emerge about the bank’s pre- and post-bailout misconduct, which stretches from the ruination of numerous small businesses in the UK and Ireland to the criminal fiddling of Yen Libor, and from the alleged manipulation of global foreign-exchange markets to the wholesale ‘mis-selling’ of US mortgage bonds, Ian Fraser examines what the future holds for RBS and whether it can ever regain the public’s trust.
Somebodies and Nobodies: Overcoming the Abuse of Rank
Robert W. Fuller - 2003
Somebodies and Nobodies introduces rank-based discrimination—or "rankism"—a form of injustice that everyone knows, but no one sees. It explains our reluctance to confront rankism, shows where analyses based on identity fall short and, using dozens of examples, traces many forms of injustice and unfairness to rankism.". . . a wonderful and tremendously important book on the ‘ism’ that is far more encompassing than racism, sexism or ageism. ‘Rankism’ must be our prime target from now on in. Viva Fuller!"—Studs Terkel, Pulitzer Prize-winning author of WorkingRobert Fuller served as president of Oberlin College and subsequently worked internationally as a "citizen diplomat." He lives in Berkeley, California.
The Ponzi Factor: The Simple Truth About Investment Profits
Tan Liu - 2018
First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as self-evident." --Arthur SchopenhauerThe Ponzi Factor is the most comprehensive research ever compiled on the negative-sum nature of capital gains (non-dividend stocks). The book shows why, as a whole, ALL investors will lose money from buying and selling stocks.Most people don’t realize that profits from buying and selling stocks come from other investors who are also buying and selling stocks. When one investor buys low and sells high, another investor is also buying high and needs to sell for even higher. Companies like Google, Telsa, Facebook never pay their investors. Their investors’ profits are dependent on the inflow of money from new investors, which by definition, is how a Ponzi scheme works.This book is not for everyone. If you are a finance junkie who wants to rationalize why companies don’t have to pay their investors and believe a system that shuffles money between investor can magically create more money than people contribute, then this book is not for you. On the other hand, if you understand why we can’t create money by shuffling it with imaginary paper, and that investors invest because they want money, not value, then you will learn something you will never forget: The mechanics of how the stock market works and what really makes a stock price move.A stock without dividends is a Ponzi asset. It’s not how equity instruments were designed to work historically and not how ownership instruments are supposed to work logically. The Ponzi Factor is not a perspective or an opinion. It is a proof that is based on definition, logic, and it is supported by observable facts and history. This is not a story that will disappear after another market crash. It is an idea that will remain relevant for as long as the stock market exists.Lastly, to critics, the naysayer, and the finance junkies who think the imaginary value = cash. The author will award $20,000 to anyone who can show why non-dividend stocks DO NOT meet the definition of a Ponzi scheme. That’s $20,000 in cash, not value. (Details on this book's website. The Ponzi Factor. Proof by Definition.)
Slapped by the Invisible Hand: The Panic of 2007
Gary B. Gorton - 2010
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 instruments unknown to most people, stands at the heart of the financial crisis.Gorton shows that the Panic of 2007 was not so different from the Panics of 1907 or of 1893, except that, in 2007, most people had never heard of the markets that were involved, didn't know how they worked, or what their purposes were. Terms like subprime mortgage, asset-backed commercial paper conduit, structured investment vehicle, credit derivative, securitization, or repo market were meaningless. In this superb volume, Gorton makes all of this crystal clear. He shows that the securitized banking system is, in fact, a real banking system, allowing institutional investors and firms to make enormous, short-term deposits. But as any banking system, it was vulnerable to a panic. Indeed the events starting in August 2007 can best be understood not as a retail panic involving individuals, but as a wholesale panic involving institutions, where large financial firms "ran" on other financial firms, making the system insolvent.An authority on banking panics, Gorton is the ideal person to explain the financial calamity of 2007. Indeed, as the crisis unfolded, he was working inside an institution that played a central role in the collapse. Thus, this book presents the unparalleled and invaluable perspective of a top scholar who was also a key insider.
Can a Catholic Be a Socialist?
Trent Horn - 2020
Some think it could be the answer to greed, and globalism. Some even argue that it’s the best way to obey Christ’s command to help the poor. Let’s give socialism a fresh chance, they say. A democratic socialism this time, friendly to religion and ordered to the common good, as the Church says the economy should be. In Can a Catholic Be a Socialist?, Trent Horn and Catherine R. Pakaluk refute this tempting but false notion. Drawing on Scripture, history, Catholic social teaching, and basic economic reality, they show beyond a doubt that Catholicism and socialism are utterly incompatible. Along the way, they debunk many of the common claims used to keep afloat the fantasy of a Christian-socialist hybrid, including: -Since the early Christians kept their property in common, so should we. -Jesus would be in favor an economic system that guarantees everyone food, health care, and education. -The Church teaches that Catholics must find a “third way” between the extremes of Communism and capitalism. -Socialism would work if it were just done right, like in Sweden. Although there is no one “Catholic” economic system, Can a Catholic Be a Socialist? helps you understand commonsense economic principles that are truly in line with the Faith. For we all should work for an economy that gives life, fostering prosperity and the common good while providing opportunities to practice temperance and charity.
The Time of My Life
Denis Healey - 1989
He was born in 1917, expanded his political views at Oxford, and also became an MP for Leeds in 1952. 'The Time of my Life' also illuminates his love of literature, art, music and photography.
May at 10
Anthony Seldon - 2019
May at 10 tells the compelling inside story of the most turbulent period in modern British politics for 100 years.Written by one of Britain’s leading political and social commentators, May at 10 describes how Theresa May arrived in 10 Downing Street in 2016 with the clearest, yet toughest, agenda of any Prime Minister since the Second World War: delivering Brexit. What follows defies belief or historical precedent. This story has never been told.Including a comprehensive series of interviews with May’s closest aides and allies, and with unparalleled access to the advisers who shaped her premiership, Downing Street’s official historian Anthony Seldon decodes the enigma of the Prime Minister’s tenure. Drawing on all his authorial experience, he unpacks what is the most intriguing government and Prime Minister of the modern era.
House of Cards: A Tale of Hubris and Wretched Excess on Wall Street
William D. Cohan - 2009
Bear Stearns was about to announce profits of $115 million for the first quarter of 2008, had $17.3 billion in cash on hand, and, as the company incessantly boasted, had been a colossally profitable enterprise in the eighty-five years since its founding.Ten days later, Bear Stearns no longer existed, and the calamitous financial meltdown of 2008 had begun.How this happened – and why – is the subject of William D. Cohan’s superb and shocking narrative that chronicles the fall of Bear Stearns and the end of the Second Gilded Age on Wall Street. Bear Stearns serves as the Rosetta Stone to explain how a combination of risky bets, corporate political infighting, lax government regulations and truly bad decision-making wrought havoc on the world financial system.Cohan’s minute-by-minute account of those ten days in March makes for breathless reading, as the bankers at Bear Stearns struggled to contain the cascading series of events that would doom the firm, and as Treasury Secretary Henry Paulson, New York Federal Reserve Bank President Tim Geithner, and Fed Chairman Ben Bernanke began to realize the dire consequences for the world economy should the company go bankrupt. But HOUSE OF CARDS does more than recount the incredible panic of the first stages of the financial meltdown. William D. Cohan beautifully demonstrates why the seemingly invincible Wall Street money machine came crashing down. He chronicles the swashbuckling corporate culture of Bear Stearns, the strangely crucial role competitive bridge played in the company’s fortunes, the brutal internecine battles for power, and the deadly combination of greed and inattention that helps to explain why the company’s leaders ignored the danger lurking in Bear’s huge positions in mortgage-backed securities.The author deftly portrays larger-than-life personalities like Ace Greenberg, Bear Stearns’ miserly, take-no-prisoners chairman whose memos about re-using paper clips were legendary throughout Wall Street; his profane, colorful rival and eventual heir Jimmy Cayne, whose world-champion-level bridge skills were a lever in his corporate rise and became a symbol of the reasons for the firm’s demise; and Jamie Dimon, the blunt-talking CEO of JPMorgan Chase, who won the astonishing endgame of the saga (the Bear Stearns headquarters alone were worth more than JP Morgan paid for the whole company). Cohan’s explanation of seemingly arcane subjects like credit default swaps and fixed- income securities is masterful and crystal clear, but it is the high-end dish and powerful narrative drive that makes HOUSE OF CARDS an irresistible read on a par with classics such as LIAR’S POKER and BARBARIANS AT THE GATE.Written with the novelistic verve and insider knowledge that made THE LAST TYCOONS a bestseller and a prize-winner, HOUSE OF CARDS is a chilling cautionary tale about greed, arrogance, and stupidity in the financial world, and the consequences for all of us.
Building the Great Society: Inside Lyndon Johnson's White House
Joshua Zeitz - 2018
The personalities behind every burst of 1960s liberal reform - from civil rights and immigration reform, to Medicare and Head Start."Absorbing, and astoundingly well-researched -- all good historians do their homework, but Zeitz goes above and beyond. It's a more than worthwhile addition to the canon of books about Johnson."--NPR"Beautifully written...a riveting portrait of LBJ... Every officeholder in Washington would profit from reading this book." --Robert Dallek, Author of An Unfinished Life: John F. Kennedy, 1917-1963 and Franklin D. Roosevelt: A Political LifeLBJ's towering political skills and his ambitious slate of liberal legislation are the stuff of legend: the Civil Rights Act of 1964, the Voting Rights Act of 1965, Medicare, Medicaid, Head Start, and environmental reform. But what happened after the bills passed? One man could not and did not go it alone. Joshua Zeitz reanimates the creative and contentious atmosphere inside Johnson's White House as a talented and energetic group of advisers made LBJ's vision a reality. They desegregated public and private institutions throughout one third of the United States; built Medicare and Medicaid from the ground up in one year; launched federal funding for public education; provided food support for millions of poor children and adults; and launched public television and radio, all in the space of five years, even as Vietnam strained the administration's credibility and budget.Bill Moyers, Jack Valenti, Joe Califano, Harry McPherson and the other staff members who comprised LBJ's inner circle were men as pragmatic and ambitious as Johnson, equally skilled in the art of accumulating power or throwing a sharp elbow. Building the Great Society is the story of how one of the most competent White House staffs in American history - serving one of the most complicated presidents ever to occupy the Oval Office - fundamentally changed everyday life for millions of citizens and forged a legacy of compassionate and interventionist government.
Washington and Hamilton: The Alliance That Forged America
Stephen F. Knott - 2015
As hostile debates raged over how to protect their new hard-won freedoms, two men formed an improbable partnership that would launch the fledgling United States: George Washington and Alexander Hamilton.Washington and Hamilton chronicles the unlikely collaboration between these two conflicting characters at the heart of our national narrative: Washington, the indispensable general devoted to classical virtues, and Hamilton, an ambitious officer and lawyer eager for fame of the noblest kind.Working together, they laid the groundwork for the institutions that govern the United States to this day and protected each other from bitter attacks from Jefferson and Madison, who considered their policies a betrayal of the republican ideals they had fought for.Yet while Washington and Hamilton's different personalities often led to fruitful collaboration, their conflicting ideals also tested the boundaries of their relationship—and threatened the future of the new republic.From the rumblings of the American Revolution through the fractious Constitutional Convention and America's turbulent first years, this captivating history reveals the stunning impact of this unlikely duo that set the United States on the path to becoming a superpower.