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Alchemists of Loss: How Modern Finance and Government Intervention Crashed the Financial System

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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. 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.


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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. 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.

44 review for Alchemists of Loss: How Modern Finance and Government Intervention Crashed the Financial System

  1. 4 out of 5

    Austin D.

    Scathing critique of modern financial system Review of money, banking and financial system with an emphasis on problems with current system. Highly critical of modern financial system. The book is a little light on justification and although i intuitively agree in many places, im left with the feeling that opponents could combat a lot of these points fairly easily. I would have especially liked further explanation of why the first best solution of non-government intervention would lead to the Scathing critique of modern financial system Review of money, banking and financial system with an emphasis on problems with current system. Highly critical of modern financial system. The book is a little light on justification and although i intuitively agree in many places, im left with the feeling that opponents could combat a lot of these points fairly easily. I would have especially liked further explanation of why the “first best solution” of non-government intervention would lead to the stable and healthy system that the authors present.

  2. 5 out of 5

    Peter Chamberlain

    Excellent expaination of why our economy has collapsed. Blames everyone from you and me to John Maynard Keynes and our fine Government. Everyone that votes should be required to read this.

  3. 4 out of 5

    John

    Good macro level explanation of the financial crisis.

  4. 4 out of 5

    Jeremy Mitchell

  5. 4 out of 5

    Clifford

  6. 5 out of 5

    Ustio

  7. 5 out of 5

    Jonathan Moreno

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    Andrew Poynton

  9. 5 out of 5

    Garrett Watson

  10. 5 out of 5

    Daniel Press

  11. 5 out of 5

    Matt

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    Miron Damian

  13. 5 out of 5

    Noah

  14. 4 out of 5

    Roger Bass

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    Richard Doman

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    John

  17. 5 out of 5

    Skafti Hardarson

  18. 5 out of 5

    mihai tincu

  19. 4 out of 5

    Vann Walke

  20. 5 out of 5

    Matt

  21. 5 out of 5

    Yogi Bear

  22. 5 out of 5

    Paul Vittay

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    Eiki

  24. 5 out of 5

    Smunch

  25. 5 out of 5

    Martina

  26. 4 out of 5

    Kalinhristov

  27. 5 out of 5

    Mandy D

  28. 4 out of 5

    George Grigoropoulos

  29. 5 out of 5

    Nathan Byrd

  30. 4 out of 5

    Desislawa Petrowa

  31. 5 out of 5

    Sam

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    Pedro Jorge

  33. 4 out of 5

    Angelos

  34. 5 out of 5

    Slavisa

  35. 5 out of 5

    Christopher Sauerwein

  36. 4 out of 5

    Siva008 Kumar

  37. 5 out of 5

    John Covil

  38. 5 out of 5

    Srdjan

  39. 5 out of 5

    Kattibrie

  40. 4 out of 5

    Ben

  41. 4 out of 5

    Dries Glorieux

  42. 5 out of 5

    Julien Noizet

  43. 4 out of 5

    Jessica

  44. 4 out of 5

    Yashvir Dalaya

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