Bailout Nation (edit title)

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Liked It Rated 5 stars “Seven hundred (700) billion in bailouts of certain select public corporations and counting. The banking and finance sector no longer have to worry about taking any risks since the taxpayers are there to bail them out every single time. The current financial meltdown of the economy makes the S&L...” see full review » see other reviews »

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  • Rated 5 stars

  “Seven hundred (700) billion in bailouts of certain select public corporations and counting. The banking and finance sector no longer have to worry about taking any risks since the taxpayers are there to bail them out every single time. The current financial meltdown of the economy makes the S&L debacle of the 80s look like child's play. There are a lot of winners in this particular bailout, but the taxpayer is not one of them. Barry Ritholtz breaks it down for you just how deeply and irrevocably *screwed* the taxpayer will be for generations to come as a direct result of this particular bailout.”

  Peyton Farquhar wrote this review 3 weeks ago. ( reply | permalink ) Was this review helpful? Yes | No

  
  
  • Rated 4 stars

  “pretty nice book detailing all of the gross negligence and greed that went into creating the bubble and crash of 2008-2009.”

  marshall h wrote this review Sunday, August 30 2009. ( reply | permalink ) Was this review helpful? Yes | No

  
  
  • Rated 5 stars

  “You want to know how the financial world blew itself up? Read this book. Ritholtz writes the popular blog, The Big Picture (ritholtz.com), and was predicting the current market crash years before it happened. And Ritholtz didn't just get lucky with it--if you were a regular reader of his blog, he laid out exactly what was going to screw up the system.
  
  Ritholtz is a funny, sometimes profane, writer and you will need some background in matters financial to follow what he's talking about, but this is still a very accessable book. He doesn't bother with political ideologies in any way--just the facts of how very irresponsible lenders spent years giving money out to anyone at all, sold the loans off to Wall Street, which then turned around and sold what they could off their books and hid the rest with accounting fraud. And it was all driven by an abandonment of any principal of banking and lending that ever existed, all in the name of short term greed.”

  Josh U wrote this review Sunday, August 16 2009. ( reply | permalink ) Was this review helpful? Yes | No