The Financial Services Act Of 1998 Hr 10

Author : Nomi Prins
Publisher : The New Press
ISBN 13 : 1595586628
Total Pages : 370 pages
Book Rating : 4.5/5 (955 download)

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Download or read book Other People's Money written by Nomi Prins and published by The New Press. This book was released on 2006-08-01 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt: Critical, independent voices are seldom found within the citadels of international finance. That's what makes Nomi Prins unique. During fifteen years as an executive at skyscraping banks like Goldman Sachs, Bear Stearns, and Lehman Brothers, Prins never lost her ability to see the broader picture. She walked away from the game in 2002 out of disgust with the burgeoning corporate corruption, just as its magnitude was becoming clear to the public. In this acclaimed exposé, named one of the best books of 2004 by The Economist, Barron's, Library Journal, and The Progressive, Prins provides fascinating firsthand details of day-to-day life in the financial leviathans, with all its rich absurdities. She demonstrates how the much-publicized fraud of recent years resulted from deregulation that trashed the rules of responsible corporate behavior, and not simply the unbridled greed of a select few. While the stock market roared on the back of phony balance sheets, executives made out like bandits and Congress looked the other way. Worse yet, as the new foreword to the paperback edition makes clear, everything remains in place for a repeat performance.