Broken Markets [electronic resource] : A User's Guide to the Post-Finance Economy /
Mellyn, Kevin.author.
"I would sleep better if I knew that Bernanke, Geithner, Bachus, Sen. Tim Johnson, Obama and Romney all kept dog-eared copies of Kevin Mellyn's Broken Markets on their nightstands. . . . Mellyn's work is a fascinating, important, and eminently good read and should inform the debate on overhauling the U.S. and global financial regulatory systems and sustainable macro fiscal and monetary policy." --Eric Grover, in his review of Broken Markets in The American Banker Broken Markets allows the intelligent non-specialist to understand and navigate the ongoing worldwide aftermath of the 2008 financial market meltdown. The key theme of the book is how the leading financial institutions and the political leadership of the U.S. and European Union have failed us and set the stage for continued market turmoil. It explains what this means for investors, borrowers, society in general, and the financial-services industry. Former banker Kevin Mellyn focuses on providing readers with clear and simple explanations of the forces at work and the potential consequences for their future prosperity. As this book makes clear, what’s coming is a world in which high structural unemployment and flat or declining real income is likely—not to mention a diminished retirement financial safety net. The book therefore provides actionable information for protecting wealth and making prudent investment decisions in an economy that is nothing like the one that has sustained us for decades. As a forward-looking narrative about rapidly changing events and volatile markets and politics, Broken Markets will provide no single prediction about the future but rather describe alternative scenarios and provide the reader with signposts to watch out for in deciding which reality is actually unfolding. Unlike most books written by journalists on global finance, the scenarios and signposts described will be largely based on the lessons of financial and political history rather than breaking news. This book: Tells you in plain language how today’s financial system threatens your livelihood and wealth Tells you why and how governments worldwide, with some notable exceptions, are taking actions likely to make things worse instead of better Explains how the leading financial institutions lost their way during the bubble years and how they can find the path back to prosperity and value to society Tells you what life will be like in a “post-finance” economy and how you can protect your wealth  .
Title Page; Copyright page; Table of contents; Foreword; About the Author; Acknowledgments; Introduction; Chapter 1. The Rise and Fall of the Finance-Driven Economy; What Karl Can Teach Us; The Current Movie; Scene One; Scene Two; Scene Three; Scene Four; Scene Five; Scene Six; Scene Seven; Scene Eight; Scene Nine; Scene Ten; Scene Eleven; Scene Twelve; Final Scene and Fade to Credits; Where We Are Now; The Magic and Poison of Financial Leverage; The Disconnection Problem; The Financialization of Wealth; The Rise of the CEO Class; Role of Consumer Debt; The Great Moderation
The Great Panic: Cause and Effect The Agony of the Household Sector; Corporate America Chugs Ahead; The End of Employment; No Safe Havens; Chapter 2. Banking, Regulation, and Financial Crises; The Postwar Financial Order Undone; The Basel Process Is Born; The Birth of Consumer Banking; Safe As Houses; Risky Business; The Triumph of the Market; How Government Policy and Central Banks Shaped the Market Meltdown; The Classic Cure for Financial Panics; Why Things Might Get Worse; The Lessons of the Great Depression Unlearned; Three Years On: Why So Little Has Changed; Political Missteps
Legal Missteps Dodd-Frank; Basel III; The End of the Euro; Chapter 3. The Economic Consequences of Financial Regulation; Distortion of Bank P & Ls and Balance Sheets; Supervision vs. Rule Making; The Shell Game; Restriction of Financial Access; Consumer Protection vs. Access; The End of Product Differentiation; Unbanking the Banked; Hurting the Savers and Investors; Chapter 4. Life After Finance; Is Government Spending Like Household Spending?; The Birth of the Credit-Driven Economy; How to Keep Interest Rates Low; Financial Repression Made Simple; The Rules of Repression
Raising-or Lowering-Taxes Has Little Impact The Political Direction of Credit and Investment; The Old Urge to Pick Winners and Losers; The Myth of the Laissez-Faire Economy; The Point: Power; Taking Risk out of a Risky Business; Keep Them Small; Keep Them Separate; Let Them Grow Big; Increase Competition; Death Knell for Consumer Credit; Cutting Off the Consumer; Starving the Entrepreneurs; Chapter 5. Global Whirlwinds; Global Trade Is Not a Zero-Sum Game; Cheap TVs Will Continue to Be a Good Dealfor the United States; Currency Manipulation or Fair Dealing?; Ants and Grasshoppers
Why China and the United States Are Joined at the Hip Why Austerity Can Be Worse Than Debt; The Euro: Meant to Pave the Way to Real Unification; Living Like Germany; Why a European Banking Crisis Threatens America; It's Still All About Trust; The Global Money Pump; Technology vs. Friction; The Clearing and Settlement Bottleneck; The War Against Settlement Risk; Why Finance Might Move to Asia; Cultural Differences in Financial Systems; Why the United States Is Losing Clout but Remains Indispensable; Why There Is No Alternative; Why the System Needs a Hegemon; Will China Stand Up?
Chapter 6. The Consumer in the World After Finance
Includes index.
"Understand the "end of finance" and learn how to thrive in an era of higher unemployment, slow growth, and poor political and institutional leadership" -- cover.
"I would sleep better if I knew that Bernanke, Geithner, Bachus, Sen. Tim Johnson, Obama and Romney all kept dog-eared copies of Kevin Mellyn's Broken Markets on their nightstands. . . . Mellyn's work is a fascinating, important, and eminently good read and should inform the debate on overhauling the U.S. and global financial regulatory systems and sustainable macro fiscal and monetary policy." --Eric Grover, in his review of Broken Markets in The American Banker Broken Markets allows the intelligent non-specialist to understand and navigate the ongoing worldwide aftermath of the 2008 financial market meltdown. The key theme of the book is how the leading financial institutions and the political leadership of the U.S. and European Union have failed us and set the stage for continued market turmoil. It explains what this means for investors, borrowers, society in general, and the financial-services industry. Former banker Kevin Mellyn focuses on providing readers with clear and simple explanations of the forces at work and the potential consequences for their future prosperity. As this book makes clear, what’s coming is a world in which high structural unemployment and flat or declining real income is likely—not to mention a diminished retirement financial safety net. The book therefore provides actionable information for protecting wealth and making prudent investment decisions in an economy that is nothing like the one that has sustained us for decades. As a forward-looking narrative about rapidly changing events and volatile markets and politics, Broken Markets will provide no single prediction about the future but rather describe alternative scenarios and provide the reader with signposts to watch out for in deciding which reality is actually unfolding. Unlike most books written by journalists on global finance, the scenarios and signposts described will be largely based on the lessons of financial and political history rather than breaking news. This book: Tells you in plain language how today’s financial system threatens your livelihood and wealth Tells you why and how governments worldwide, with some notable exceptions, are taking actions likely to make things worse instead of better Explains how the leading financial institutions lost their way during the bubble years and how they can find the path back to prosperity and value to society Tells you what life will be like in a “post-finance” economy and how you can protect your wealth  .
Business.
Management science.
Business and Management, general.