About financial crisis

If you, like me, want to know more about the global financial crisis, here’s a quick two-step process.

First, get hold of Justin Cartwright’s novel Other People’s Money. Okay, it’s fiction. But it’s very readable. And you’ll find that the story, which revolves around a failing London bank, provides an enjoyable introduction to why financial institutions collapse, and how rich bankers, powerful politicians and influential journalists conspire to prevent the bank from crashing.

Justin Cartwright’s story also mentions Bhutan – not as the land of gross national happiness, or as an up and coming financial centre, but, interestingly, as a refuge for the mysterious yeti!

Second, download Getting up to Speed on the Financial Crisis: A One-Weekend-Reader’s Guide by Gary Gorton and Andrew Matrick. This paper, also quite readable, is a summary of 16 other documents, and explains what happened during the financial crisis 2007 – 2009.

The one-weekend guide also has a Bhutan connection. The paper was recommended by Dorji Wangchuk on one of his many informative tweets. Dorji Wangchuk is an economist and financial expert working in the UK.

 

 

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  1. The many so called Banking or financial experts, powerful politicians, spin doctors, unethical journalists, and nexus among them are responsible for global and national financial and other crisis. They are blood suckers and thrives on misfortune of working class. Lesser the number of such souls better would be the world with finite resources.

    Cheers

  2. Thanks for the suggested raedings! Last year’s oscar-winning documentary ‘Inside Job’ also gives a pretty good idea of the financial crisis and the people behind it according to the film-makers too. Cheers!

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