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13 Bankers: The Wall Street Takeover and the Next Financial Meltdown

13 Bankers: The Wall Street Takeover and the Next Financial Meltdown

Author Simon Johnson
Publisher Pantheon
Publication Date 2010-03-30
Section Business & Management
Type New
Format Hardcover
ISBN 9780307379054

Even after the ruinous financial crisis of 2008, America is still beset by the depredations of an oligarchy that is now bigger, more profitable, and more resistant to regulation than ever. Anchored by six megabanks—Bank of America, JPMorgan Chase, Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley—which together control assets amounting, astonishingly, to more than 60 percent of the country’s gross domestic product, these financial institutions (now more emphatically “too big to fail”) continue to hold the global economy hostage, threatening yet another financial meltdown with their excessive risk-taking and toxic “business as usual” practices. How did this come to be—and what is to be done? These are the central concerns of 13 Bankers, a brilliant, historically informed account of our troubled political economy.

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