And the Money Kept Rolling In (and Out) Wall Street, the IMF, and the Bankrupting of Argentina [NOOK Book]

Overview


In the 1990s, few countries were more lionized than Argentina for its efforts to join the club of wealthy nations. Argentina's policies drew enthusiastic applause from the IMF, the World Bank and Wall Street. But the club has a disturbing propensity to turn its back on arrivistes and cast them out. That was what happened in 2001, when Argentina suffered one of the most spectacular crashes in modern history. With it came appalling social and political chaos, a collapse of the peso, and a wrenching downturn that ...
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And the Money Kept Rolling In (and Out) Wall Street, the IMF, and the Bankrupting of Argentina

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Overview


In the 1990s, few countries were more lionized than Argentina for its efforts to join the club of wealthy nations. Argentina's policies drew enthusiastic applause from the IMF, the World Bank and Wall Street. But the club has a disturbing propensity to turn its back on arrivistes and cast them out. That was what happened in 2001, when Argentina suffered one of the most spectacular crashes in modern history. With it came appalling social and political chaos, a collapse of the peso, and a wrenching downturn that threw millions into poverty and left nearly one-quarter of the workforce unemployed.
Paul Blustein, whose book about the IMF, The Chastening, was called "gripping, often frightening" by The Economist and lauded by the Wall Street Journal as "a superbly reported and skillfully woven story," now gets right inside Argentina's rise and fall in a dramatic account based on hundreds of interviews with top policymakers and financial market players as well as reams of internal documents. He shows how the IMF turned a blind eye to the vulnerabilities of its star pupil, and exposes the conduct of global financial market players in Argentina as redolent of the scandals — like those at Enron, WorldCom and Global Crossing — that rocked Wall Street in recent years. By going behind the scenes of Argentina's debacle, Blustein shows with unmistakable clarity how sadly elusive the path of hope and progress remains to the great bulk of humanity still mired in poverty and underdevelopment.
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Editorial Reviews

From the Publisher
Wall Street Journal, February 16, 2005
"An extraordinary tale of bad policy and financial gluttony... Mr. Blustein tells the tale with precision and panache, offering inside-baseball details and, along the way, color commentary."

Washington Post Book World, May 8, 2005
"The book could have been titled 'CSI: Buenos Aires' because what Blustein expertly investigates is undoubtedly an economic crime scene.” 

The Economist, March 5, 2005
“An engrossing inside account… The arguments surrounding Argentina's collapse are complex and technical. It is Mr. Blustein's considerable achievement to have fashioned them into such a page-turner.”

Financial Times, February 17, 2005
“An economic crisis as astonishing as Argentina’s deserves a detailed forensic examination, and in Paul Blustein’s second book it receives it… [a] riveting narrative…timely.” 

Los Angles Times, July 24, 2005
“an absorbing tale of hope, folly and betrayal” and an “authoritative account of the nation's unraveling.”

Foreign Affairs, May/June issue
"a vivid and intelligent case study of economic tragedy."

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Product Details

  • ISBN-13: 9781586485511
  • Publisher: PublicAffairs
  • Publication date: 4/4/2006
  • Sold by: Barnes & Noble
  • Format: eBook
  • Pages: 304
  • Sales rank: 605,431
  • File size: 485 KB

Meet the Author


Paul Blustein, a staff writer at the Washington Post, has covered business and economic issues for more than twenty-five years. He has also worked at Forbes Magazine and the Wall Street Journal. His work has won several prizes, including business journalism's most prestigious, the Gerald Loeb Award.
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Customer Reviews

Average Rating 4
( 4 )
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Sort by: Showing all of 4 Customer Reviews
  • Anonymous

    Posted July 26, 2013

    Comprehensive history

    Good read if you're interested in the topic. Good look into the inner workings of the IMF. Breaks a few standard narratives, like that Argentina is corrupt and was looking for a quick buck by defaulting, that the IMF was directing Argentina to crisis, and that finance can be self-regulating.

    Semitechnical, in that I don't have a background in finance, just economics and an interest in the topic, and I was pretty much able to understand everything.

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  • Posted November 15, 2011

    A great book that provides historical perspective and shines a light on today!

    A great book that provides a thorough historical perspective on the Argentinian crisis. Technical enough with a well written page turner approach. The timeliness of this book is perfect for the crisis unfolding in the Euro zone. Read it, understand it, and become aware of the crisis that may be looming.

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  • Anonymous

    Posted January 5, 2007

    Argentina Unravels

    Paul Blustein does manage to turn the story of Argentina's financial meltdown into a page-turner. He is scrupulously fair in assigning blame where it is due - all around-(great journalistic instincts)and in analyzing the strengths and weaknesses of all the players. His prescriptions for IMF reform at the end of the book are a bit too 'pie-in-the-sky' but make lots of sense.

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  • Anonymous

    Posted May 6, 2009

    No text was provided for this review.

Sort by: Showing all of 4 Customer Reviews

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