Former Goldman Sachs investment banker Talbott (Obamanomics) delivers a tightly written analysis of the financial crisis that while sufficiently credible and engaging, adds little to the conversation. Talbott launches a tirade against prevalent myths conveniently categorized as "Stock Investing Lies," "Lies About the Global Economy," etc. He summarily attacks the U.S. government, lobbyists, the media, Alan Greenspan and Henry Paulson, and pronounces the entire global banking system insolvent. Despite some bravado behind these sweeping claims, many of his assertions are convincing-the roots of the collapse of our economy are a lack of regulation, conflicts of interest between business and government and a preponderance of lying and cheating. Talbott sometimes stumbles (e.g., stating that companies that make addictive products are not good investments even when they consistently outperform other sectors) and while he promises to offer real solutions, he provides ideas that will win few fans, such as allowing the economy to contract, creating new bankruptcy processes to deal with the corporate fallout and permitting the government to inflate the currency. (June)Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
The 86 Biggest Lies on Wall Streetby John R. Talbott
Best-selling author and former investment banker John R. Talbott exposes the biggest myths about investing and the financial crisis. See more details below
Best-selling author and former investment banker John R. Talbott exposes the biggest myths about investing and the financial crisis.
- Seven Stories Press
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... this book is for you. In the wake of the financial meltdown of the banks- both investment and commercial- this is the first book I've found to walk you thru' each and every error, mistake, dumb move, and outright stupidity that has engulfed the markets over the last, oh, fifteen years. AND, as important, Mr. Talbott has some serious recommendations for changes. Blunt at times, straight-talking all the time, this is one damn fine book for the general reader who is confused by the writings of the press and the noise of most TV shows on the subject. Cheap at the price.