Extreme Money: Masters of the Universe and the Cult of Risk (ebook)

[jtuck004]

http://www.amazon.com/gp/product/B0056J0OII/ref=as_li_ss_tl?ie=UTF8&tag=coupon101-20&linkCode=as2&camp=1789&creative=390957&creativeASIN=B0056J0OII


Just got this off of Amazon, they do free books from time-to-time. If you have their free Kindle for the PC it downloads at no cost.

2 Reviewers said:

“Das describes the causes of the financial crisis with the insight and understanding of a financial wizard, the candor and objectivity of an impartial observer, and a wry sense of humor that reveals the folly in it all.”
–Brooksley Born, Former Chairperson of the U.S. Commodity Futures Trading Commission (CFTC)”

“Long before the 2008-09 credit crisis and collapse, one of the strongest warnings about the dangers of derivatives came from Satyajit Das.... it reads more like a crime novel than a financial book.” —Barry Ritholtz

Just thought I would share what i found...

[Tuesday Afternoon]

1. sounds interesting. thanks for the link.

[Warpy]

2. When the derivatives market finally collapses, and it will

since it's just a betting system with nothing tangible behind it, it's going to take a hell of a lot with it. It will be worse than 1929 because all the money will disappear overnight, evaporated into the fantasy derivatives always were.

The derivatives market is a gigantic casino where bets, counter bets, and hedges are made to reduce risk. All institutional investors and most corporations are infected with them. When they go, net worth will go with them.

I have no idea how ordinary people are going to prepare for this one. Perhaps life skills will become valuable again when people can't afford to throw things away and buy new all the time. Who knows?

[oldhippie]

3. Got it. Thanks! nt

nt