Other People's Money
The Real Business of Finance
Book - 2015
The finance sector of Western economies is too large and attracts too many of the smartest college graduates. Financialization over the past three decades has created a structure that lacks resilience and supports absurd volumes of trading. The finance sector devotes too little attention to the search for new investment opportunities and the stewardship of existing ones, and far too much to secondary market dealing in existing assets. Regulation has contributed more to the problems than the solutions.
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Publisher:
New York : PublicAffairs, 2015
Edition:
1st US ed
ISBN:
9781610396035
1610396030
1610396030
Characteristics:
xiii, 336 p. : ill. ; 25 cm
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Add a CommentA scathing indictment of modern finance, this is also a gripping read. Unlike the investigative style expose or dry and confusing economics texts, Mr Kay speaks with the authority of an insider of the financial system, and the fluency of a regular contributor to the Financial Times.
Under the British Official Secrets Act, it is AGAINST THE LAW to know who the owners of the Bank of England are - - will Kay explain why this is?
Of course not!
Today in America, a select few actually know who the banks who own the Federal Reserve are, but who actually owns those banks?
Will Kay explain this to us?
Of course not!
Today the majority shareholders in the majority of major corporations throughout North America and Europe are BlackRock, Vanguard Group, State Street and FMR LLC or Fidelity.
Will Kay explain how this came to be?
Of course not!
Do you really think this book will be instructive or enlightening?
Of course not!