Panic
Subtitle: the betrayal of capitalism by Wall Street and Washington
By: Andrew Redleaf and Richard Vigilante
Contributors: Vigilante, Richard
Edition: 1st ed.
Publisher: Richard Vigilante Books
Published: 2010
Place of publication: [Minneapolis, Minn.]
Language: eng
Number of pages: 263
ISBN-13: 9780980076363
Subjects: Government policy; Finance; Capitalism; Mortgages; Psychological aspects; Economic policy; Financial crises; Investments; History
Description: [The authors] reveal the Crash of 2008 as the "predictable outcome of an ideology that has dominated the American financial establishment for upwards of forty years." This "ideology of modern finance" replaced the capitalist's appreciation for free markets as a context for human creativity with the worship of efficient markets as substitutes for that creativity. The capitalist understands free markets as an arena for the contending judgments of free men. ... Under the influence of contemporary financial theory, bankers and regulators abandoned basic tools of financial analysis and judgment ... [and] combined to create financial institutions with balance sheets no one could judge--Dust jacket.
Notes: Includes bibliographical references (p. [247]-253) and index.
Table of contents: title: Part I: By purest reason. The anti-entrepreneurs; title: A more perfect market; title: New risks in old bottles; title: The misinformation economy. Part II: The ideology of modern finance. The reign of risk; title: The romance of risk; title: What professors do; title: Dumb money rules; title: Zoom, zoom, zoom. Part III: Practical men. You've got a friend at Freddie's; title: If the fat lady sings and nobody hears her, are the canaries still dead?; title: Into great silence; title: Strategic ambiguity; title: Insolvent immunity; title: Black September; title: Sucked into the green zone; title: Crony capitalism in crisis; title: Capitalism without capitalists.