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CAIRO BOOKS's Description
An engaging look at how modern finance almost destroyed our global economy
Over the last thirty years, capital markets have been restructured through the
tenets of modern finance. This has been enormously profitable for the financial
services sector. However, these innovations, coupled with unsound risk and
regulatory practices have proved disastrous for the global economy.
In a clear and accessible style, ex-investment banker and financial journalist
Martin Hutchinson, and highly respected academic, Kevin Dowd show how modern
finance combined with easy money threatened to bring down the world financial
system. At the heart of the book is modern finance as a U.S. invention, the
theories and practices associated with them, and the changes they made in
business models and risk management on Wall Street and other major financial
centers. Breaks down the events involved in the 2007-08 financial collapse
Reveals how botched policy response made a bad situation worse Focuses on
lessons that the practice of finance must learn from recent events
The Alchemists of Loss will help you to understand how our financial system
crashed and show you what it will take to make sure this won't happen again as
we move forward.