Meltdown

Meltdown

The End of the Age of Greed

Book - 2009
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Random House, Inc.
Meltdown tells the story of the financial crisis that destroyed the West’s investment banks, brought the global economy to its knees, and began to undermine three decades of neoliberal orthodoxy. Covering the credit crunch and its aftershocks from the economic front line, BBC journalist Paul Mason explores the roots of the US and UK’s financial hubris, documenting the real world causes and consequences from the Ford Factory, to Wall Street, to the City of London. In response to the immense challenge now facing the existing economic system, he outlines a new era of hyper-regulated capitalism that could emerge from the wreckage.

Baker & Taylor
An economics editor for BBC Newsnight presents a sobering account of the global financial collapse that has pushed the world economy toward a major recession, identifying what the author believes to be the sources of the collapse while making cautionary predictions about a potential rise of hyper-regulated capitalism. Original.

Norton Pub
Meltdown tells the story of the financial crisis that destroyed the West’s investment banks, brought the global economy to its knees, and began to undermine three decades of neoliberal orthodoxy. Covering the credit crunch and its aftershocks from the economic front line, BBC journalist Paul Mason explores the roots of the US and UK’s financial hubris, documenting the real world causes and consequences from the Ford Factory, to Wall Street, to the City of London. In response to the immense challenge now facing the existing economic system, he outlines a new era of hyper-regulated capitalism that could emerge from the wreckage.
A gripping account of the global financial collapse by the BBC’s economics editor.

Baker
& Taylor

Presents a sobering account of the global financial collapse that has pushed the world economy toward a major recession, identifying what the author believes to be the sources of the collapse while making cautionary predictions about a potential rise of hyper-regulated capitalism.

Publisher: London ;New York : Verso, 2009
ISBN: 9781844673964
1844673960
Characteristics: 198 p

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StarGladiator
Jul 24, 2013

"Had the old capital restrictions been in place, it is unlikely that any of the Wall Street banks could have built up toxic debts on the scale that eventually sank them." - - This is the most specious line imaginable! I consider people like the BBC's Paul Mason to be nothing more than frauds (and the CEO of BBC was on the board of Barclays), with his description of corruption-by-design as "hubris" - - destruction of what investment banks? Goldman Sachs, Morgan Stanley and JPMorgan Chase are stronger than ever, controlling the credit derivatives weapon, especially naked swaps or credit default swaps, and they have assumed almost complete power today! As you read this, the shadow banking system is stronger than ever. Never has the City of London Corporation held more power! (Whenever anyone claims it was the policymakers, ignoring all the flow of monies to them from Wall Street (America) and the City of London Corporation (UK), and so forth, that individual is a propagandist! And, oh, by the way, the publisher of this book is owned by a hedge fund....)

This book was originally published in early 2009, just after the current financial crisis began and panic gripped the world in the wake of major bank failures, most notably, Lehman Brothers. This edition has been updated to include Quantitative Easing, the Eurozone sovereign debt contagion and the problems of Greece, which have now been front page news for over 2 years. The author is a journalist and economics editor for the BBC. Mason has had a bird's eye view of events as they unfolded in both America, Europe, China and elsewhere. As a reporter, he was present at key moments, such as the hasty birth of the G20. This is an excellent guide to the topics of moral hazard, hubris, excessive risk, the shadow banking system and the subprime mortgage debacle. Well written.

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