296 13 Bankers & Liar’s Poker || God Does Not Play Dice But Bankers Do

We take a look at two books about the financial apocalypse. The first book is 13 Bankers by Simon Johnson and James Kwak. The second book is Liar's Poker by Michael Lewis. 13 Bankers In spite of its key role in creating the ruinous financial crisis of 2008, the American banking industry has grown bigger, more profitable, and more resistant to regulation than ever. Anchored by six megabanks whose assets amount to more than 60 percent of the country’s gross domestic product, this oligarchy proved it could first hold the global economy hostage and then use its political muscle to fight off meaningful reform. 13 Bankers brilliantly charts the rise to power of the financial sector and forcefully argues that we must break up the big banks if we want to avoid future financial catastrophes.Liar's PokerThe time was the 1980s. The place was Wall Street. The game was called Liar’s Poker.Michael Lewis was fresh out of Princeton and the London School of Economics when he landed a job at Salomon Brothers, one of Wall Street’s premier investment firms. During the next three years, Lewis rose from callow trainee to bond salesman, raking in millions for the firm and cashing in on a modern-day gold rush.Once Upon a [email protected] on Twitter @KawFee_Haus Read new articles at KawFee Haus Korner on Substack Consider supporting the show on Patreon See what I'm reading on Goodreads Check out my book Hosted on Acast. See acast.com/privacy for more information.