Makers and Takers: The Rise of Finance and the Fall of American BusinessCrown Business, 2016 - 388 pagina's "Eight years on from the biggest market meltdown since the Great Depression, the key lessons of the crisis of 2008 still remain unlearned--and our financial system is just as vulnerable as ever. Many of us know that our government failed to fix the banking system after the subprime mortgage crisis. But what few of us realize is how the misguided financial practices and philosophies that nearly toppled the global financial system have come to infiltrate ALL American businesses, putting us on a collision course for another cataclysmic meltdown. Drawing on in-depth reporting and exclusive interviews at the highest rungs of Wall Street and Washington, Time assistant managing editor and economic columnist Rana Foroohar shows how the "financialization of America" - the trend by which finance and its way of thinking have come to reign supreme - is perpetuating Wall Street's reign over Main Street, widening the gap between rich and poor, and threatening the future of the American Dream. Policy makers get caught up in the details of regulating "Too Big To Fail" banks, but the problems in our market system go much broader and deeper than that. Consider that: · Thanks to 40 years of policy changes and bad decisions, only about 15 % of all the money in our market system actually ends up in the real economy - the rest stays within the closed loop of finance itself. · The financial sector takes a quarter of all corporate profits in this country while creating only 4 % of American jobs. · The tax code continues to favor debt over equity, making it easier for companies to hoard cash overseas rather than reinvest it on our shores. · Our biggest and most profitable corporations are investing more money in stock buybacks than in research and innovation. · And, still, the majority of the financial regulations promised after the 2008 meltdown have yet come to pass, thanks to cozy relationship between our lawmakers and the country's wealthiest financiers. Exploring these forces, which have have led American businesses to favor balancing-sheet engineering over the actual kind and the pursuit of short-term corporate profits over job creation, Foroohar shows how financialization has so gravely harmed our society, and why reversing this trend is of grave importance to us all. Through colorful stories of both "Takers" and "Makers," she'll reveal how we change the system for a better and more sustainable shared economic future"-- |
Inhoudsopgave
THE RISE OF FINANCE | 29 |
CHAPTER 2 | 62 |
CHAPTER 3 | 88 |
CHAPTER 4 | 121 |
CHAPTER 6 | 160 |
FINANCIAL WEAPONS OF MASS DESTRUCTION | 179 |
CHAPTER 7 | 210 |
CHAPTER 8 | 237 |
CHAPTER 9 | 264 |
CHAPTER 10 | 285 |
CHAPTER 11 | 315 |
ACKNOWLEDGMENTS | 327 |
| 367 | |
Overige edities - Alles bekijken
Makers and Takers: The Rise of Finance and the Fall of American Business Rana Foroohar Geen voorbeeld beschikbaar - 2016 |
Veelvoorkomende woorden en zinsdelen
academics activists American business Apple Author interview bankers began Big to Fail billion Bogle Buffett Business School buybacks capital Carl Icahn cash chapter Citigroup commodities companies complex consumers corporate cost create crises crisis of 2008 debt decades Dodd-Frank economist Federal financial crisis financial industry financial institutions financial sector financial system Ford global Goldman Sachs growth Harvard Business Harvard Business School hedge fund housing Icahn index funds innovation interest rates investment investors J.P. Morgan Jamie Dimon lobbying makers Mark Zandi McNamara Morgan Stanley mortgage pension percent Pfizer private equity private equity firms problem profits Rana Foroohar real economy reform regulation retirement rise risk Sandy Weill says Senate share price shareholders Stiglitz stock price subprime things tion trading trillion Wall Street Warren Buffett wealth Whiz Kids workers Wriston York