Discover how the global financial plague is poised to return,and what can be done to stop it
This is not your father's financial system. Jimmy Stewart, thetrustworthy, honest banker in the movie, It's a Wonderful Life, isdead. And so is his small-town bank, Bailey Savings &Loan. Instead, we're watching It's a Horrible Mess with Wall Street(aka the Vegas Strip) playing ever larger craps with our economyand our tax dollars.
This book, written by one of the world's most respectedeconomist, describes in lively, humorous, simple, but also deadlyserious terms the big con underlying the big game the web ofinterconnected financial, political, and regulatory malfeasancethat culminated in financial meltdown and brought us to oureconomic knees. But it also proposes an amazingly simplysolution. Limited Purpose Banking to make Wall Street safe for MainStreet.
- This book, as well as the financial fix described within it,have received rave reviews from a veritable who's who ofpolicymakers and economics, plus five economics NobelLaureates
- Written by a leading economist whose insights on this topic areunparalleled
- Outlines the first and only proposal to fundamentally fix ourfinancial disaster for good
Jimmy Stewart Is Dead will fundamentally change the wayyou think about the economy, financial markets, and thegovernment.
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About the Author
LAURENCE J. KOTLIKOFF is a William Fairfield Warren Professor of Economics at Boston University, Fellow of the American Academy of Arts and Sciences, Research Associate of the National Bureau of Economic Research, Fellow of the Econometric Society, and former Senior Economist, President's Council of Economic Advisers. Coauthor of The Coming Generational Storm and Spend 'Til the End and author of The Healthcare Fix, and Bloomberg columnist, Kotlikoff publishes extensively in the nation's leading newspapers, magazines, and financial websites on financial reform, taxes, saving, growth, deficits, Social Security, healthcare, pensions, and personal finance.
Table of Contents
Foreword by Jeffrey Sachs.
Chapter 1. It’s a Horrible Mess.
Chapter 2. The Big Con: Financial Malfeasance, AmericanStyle.
Chapter 3. Uncle Sam’s Dangerous Medicine.
Chapter 4. “This Sucker Could Go Down”.
Chapter 5. Limited Purpose Banking.
Chapter 6. Getting from Here to There.
Chapter 7. What About?
Chapter 8. Conclusion.
Afterword. Fixing the Rest of Our Economic Mess.
About the Author.
Most Helpful Customer Reviews
There's no use pining for the good old days - "It's a Wonderful Life" was just a Hollywood movie, the town of Bedford Falls doesn't really exist and Jimmy Stewart is long gone. But earth-shattering economic tumult has a way of evoking nostalgia for the return of (what you think were) simpler, more honest fiscal times. Economist Laurence J. Kotlikoff delivers a salty, sometimes irreverent, but ultimately convincing remedy to cure you of the erroneous belief that banking should return to the past to make up for the sins of the present. He competently lays out his concept of how "limited purpose banking" would work while hoisting on their own petard the crafty bankers, sinister lenders and obfuscating bureaucrats who nearly crashed the economy. getAbstract recommends Kotlikoff's original interpretation of events resulting from the 2008 crisis and his exposition of the far-reaching solution he offers, but quibbles over just one point: George Bailey ran the Bailey Building and Loan, not the Bailey Savings and Loan.