Big Bad Banks

( 4 )

Overview

How Did This Happen?

How did our economy come so close to collapse? How did we lose jobs, homes and retirement funds?

I can't tell you how often I get those questions. Ordinary people are angry that they are suffering the grievous effects of the worst economic downturn since the Great Depression, and they want an explanation about how it happened. They aren't getting if from the big banks that created this mess and that were bailed out with ...

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More About This Book

Overview

How Did This Happen?

How did our economy come so close to collapse? How did we lose jobs, homes and retirement funds?

I can't tell you how often I get those questions. Ordinary people are angry that they are suffering the grievous effects of the worst economic downturn since the Great Depression, and they want an explanation about how it happened. They aren't getting if from the big banks that created this mess and that were bailed out with taxpayer dollars, and they aren't getting it from the government officials who were supposed to be guarding against this very disaster that has befallen us.

That's why I decided to write Big Bad Banks. From my humble perch as a banker in Lafayette, La., I have seen this disaster shaping up for many years. While the big bankers and government officials concoct elaborate theories about what happened- theories that always seem to lay the blame on somebody else- I can tell you right now what caused it: pure greed and ego.

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Product Details

  • ISBN-13: 9780615317267
  • Publisher: Cloutier Publishing
  • Publication date: 11/15/2009
  • Pages: 128
  • Product dimensions: 6.10 (w) x 9.00 (h) x 0.60 (d)

Customer Reviews

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( 4 )
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Sort by: Showing all of 4 Customer Reviews
  • Posted February 10, 2010

    Every Professional Person Should Read and Take Heed

    Having begun the practice of law, in the oilfield,about the same time as Rusty entered banking, I lived through his detailed description of what transpired. He is,"spot on" as the English are fond of saying.
    It helps that I was also a director of a small bank and an Economics Major in college to truly apprecaite his expertise. His descriptions go far beyond the cold hard facts of the chaos created as he gives his unbridled opinon, supported by fact, of not just what went on but WHY.
    I not only reccommend reading this book but taking the lessons learned to heart----and wallet.

    C

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  • Posted December 22, 2009

    This is the "real" story of how we ended up in this mess! Rusty has written an insightful account of the origins of the banking crisis and privided some suggestions for fixing it based on good ol' common sense.

    Big Bad Banks
    Rusty provides a straight forward explanation of the events that led to the current crisis in our banking system. He clearly points out the individuals whose greed for more money and power led to the near collapse of our financial system. In the mean time, key regulators simply stood by and encouraged these dangerous actions. For anyone on Main Street who truly wishes to understand the current economic crisis, Big Bad Banks is a must read, refreshingly honest point of view, and a sure hit!

    John P. Lajaunie, Professor of Finance
    Clarence J. Riviere Endowed Professor of Business

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  • Posted December 2, 2009

    Great Quick Read

    Rusty has a unique way of taking complex issues and delivering them in an easy to understand context. Rusty is an extemely knowledgeable and well respected professional who offers great insight and history into how we got into the "financial crisis" that we are in today. I thank him for taking the time to write and share his views with everyone.

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  • Posted November 24, 2009

    Community Banks are not to blame!

    This is a must read for people critical of all banks in the country. Community banks and bankers have not been involved in this breakdown and Rusty is one of the best to explain what really happened.

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