The Gods That Failed: How the Financial Elite Have Gambled Away Our Futures Paperback – Aug 31 2009
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“The most entertaining effort to identify those to blame for the credit crunch.”
“Agree or disagree, you should read this book. As the crunch intensifies, these critics are out in force and the most influential of their books will undoubtedly turn out to be this readable yet controversial tome.”
— City A.M.
About the Author
Larry Elliott and Dan Atkinson are Economics Editors of the Guardian and the Daily Mail respectively. They are the co-authors of Fantasy Island and The Age of Insecurity.
Most Helpful Customer Reviews on Amazon.com (beta)
The book begins slowly with a forensic deconstruction of current problems. It's detailed, and not the easiest reading. However it summarises down to the fact that money has been created and lent beyond the worth of assets and incomes. The scale of this, and the hiding of it in obscure off balance sheet transactions, is a scandal, that will come home to roost. Inevitably there will be a devaluation from such financial recklessness. The USA and UK are particularly vulnerable to this "correction." We will be paying for the problems created for many years to come.
The authors suggested remedies are at the back of the book (last 15 pages out of 310)
I found this book's argument convincing. I liked the author's set of suggested remedies. I recommend this important book to other readers. And may it send shivers down Mr Brown and Mr Darling's spines.
I originally wrote this review in July 2008 on amazon.co.uk. Since then the catastrophe described by Atkinson and Elliott has unfolded in USA and UK. Our Prime Minister insists that the problem is global and entirely due to American incompetence. Most in UK do not believe him on this.
This book remains a good description of the current problems Wall Street and Main Street, or in UK terms the City and the country, are facing.
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