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Have listened to this 3 times now as it can be enjoyed on different levels . Very entertaining if you are interested in finance but don't really know how or why these mad new financial instruments work.
I never felt like I understood what's actually happening in the finance markets until I read this book.
Kay has a wonderfully grounded approach which asks, what is the good work the financial sector supposed to perform? And, is it performing it?
The answer is largely, scandalously, that most of what the financial sector does offers no service while causing enormous risks for the economy at large.
It was counterintuitive to hear that more regulations don't help. Instead, we need basic, fundamental structural changes in how the finance system works, rather than attempts to monitor every aspect of what bankers do. Laws and regulators can never keep up with the banks, and further complexity only creates greater distortions.
The book includes a whole chapter on clear, specific reforms. Everyone must read this book. That way, we could get the reforms we need.
2 of 2 people found this review helpful
Did a computer narrate this story? The narrator's voice is so monotone, it almost puts me to sleep. There's probably good information in this audiobook, but the narrator kills any desire to pay attention.
1 of 1 people found this review helpful