The Sellout: How Three Decades of Wall Street Greed and Government Mismanagement Destroyed the Global Financial System

The Sellout: How Three Decades of Wall Street Greed and Government Mismanagement Destroyed the Global Financial System

by Charles Gasparino
3.2 45

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The Sellout: How Three Decades of Wall Street Greed and Government Mismanagement Destroyed the Global Financial System 3.3 out of 5 based on 0 ratings. 44 reviews.
JSMNH More than 1 year ago
This is the true story of how greed and leverage in the hands of unchecked CEO's and "hands off" and oblivious boards of directors wrecked the Wall Street Firms. Every member of Congress should read this and recognize the need to re-regulate capital requirements and leverage. Until they do, the public is not safe, our country is not safe, and our money is not safe. The book is worth having, if for no other reason, that for keeping next to my bed, so I can re-read how Stan O'Neal was fired over and over again whenever I want to. Now, that's a good bedtime story.
MikeMcHenry More than 1 year ago
The Sellout was interesting and insightful as a review of the recent events of our economic travails. Having lived through them in a very real sense over the last two years, it was useful to have them catalogued in a neat and orderly fashion. Gasparino's writing is fine, not stellar, but also not boring. Approx. 1/4 of the book was focused on the events leading up to the crisis, and 3/4 of the book discussed the crisis itself. My low marks are due to the book not being what I expected. I wanted a better understanding of the history of what got us to this point. The discussion of the historical events were a thumbnail sketch of why this occurred. The majority of the book focused on Merril, Bear, MS, and the others. Gasparino has world class contacts and access to the inner circles of these organizations and therefore I should have expected most of the book would be focused on his area of expertise. He's an extremely bright guy; I just feel the writing could have been elevated somewhat, and the discussion of historical events could have been provided in greater detail.
PmcD More than 1 year ago
Sellout explains that the causes of the current problem with the financial industry was decades in the making. Gasparino does not flinch in laying responsibility for the problem on those he believes were negligent, incompetent or greedy.
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Mike-from-Texas More than 1 year ago
The book provides a narrative of some of the inner-workings of wall street. It explains the evolution of the business and the events leading to the latest financial crisis including the role of the federal government. A lot of "inside baseball" as to the personalities, competition and risk-taking of the players. I would recommend the book to anyone who is interested in gaining a better understanding as to the cause of the crisis as well as the "boom and bust" cycle in general.
Orangenblack More than 1 year ago
This book should be categorized under the "history" section, vice business. The book highlights, in layman terms and understanding, the evoltion of a financial debacle; from the late seventies to the current near melt-down. Well done Charlie!
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This is a great book! Gasparino really hits the mark and tells the extremely scary truth behind the banking/mortgage crisis. I am a broker of a small company and the book confirmed all my beliefs. Everyone of my partners wants to read the book since I go to work every day and tell them more of what Gasparino has to say. It will be passed along to every one of them.
Anonymous More than 1 year ago
The book was enjoyable to read and helped me to clarify a number of things in my mind. In general, it helps the reader better understand why the recent financial panic occurred and how a number of major financial companies and key personalities were involved. I had followed the financial news somewhat during the panic but more closely at some times than others, depending on my work and family schedule. It can be difficult to put everything together into a "big picture" from on again / off again watching / reading of daily news. This book helped to fill in some knowledge "holes" in my mind and develop a more complete picture of what happened and where we are now. It also reached back far enough in time (but not too far back) to "set the stage" well for putting more recent events into perspective.
Anonymous More than 1 year ago
While I may not understand the technicalities of all the financial instruments it still got the message across as stated in the title. I think it should have been tougher on the Federal Govt agencies and politicians based on what I have read in the press.
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