Posted by: Dirk | June 28, 2009

CSI: Wall Street

Recently, I have been wondering how much the people running the financial system really knew about the system they created. Now that it is all uncovered it seems incredible that this system survived for so long. (I have recycled these lines, sorry.) If you want to or not, there will be a lot of people from outside academia that will be having a go at the causes of the financial crisis and how financial firms behaved. Here is the trailer of the new Michael Moore (!) movie:

More interesting might be a book by Nomi Prins titled It Takes a Pillage: Behind the Bailouts, Bonuses, and Backroom Deals from Washington to Wall Street. There is no excerpt available, but the text has been written by an insider:

Written by a former managing director at Goldman Sachs, now a senior fellow at Demos, with two books under her belt, who writes regularly on corruption in Washington and Wall Street for places from Fortune to Mother Jones.

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