Extreme Money

Extreme Money

Masters of the Universe and the Cult of Risk

Book - 2011
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The human race created money and finance: then, our inventions recreated us. In Extreme Money, best-selling author and global finance expert Satyajit Das tells how this happened and what it means. Das reveals the spectacular, dangerous money games that are generating increasingly massive bubbles of fake growth, prosperity, and wealth--while endangering the jobs, possessions, and futures of virtually everyone outside finance.

 

"...virtually in a category of its own — part history, part book of financial quotations, part cautionary tale, part textbook. It contains some of the clearest charts about risk transfer you will find anywhere. ...Others have laid out the dire consequences of financialisation ("the conversion of everything into monetary form", in Das’s phrase), but few have done it with a wider or more entertaining range of references...[Extreme Money] does... reach an important, if worrying, conclusion: financialisation may be too deep-rooted to be torn out. As Das puts it — characteristically borrowing a line from a movie, Inception — "the hardest virus to kill is an idea". 
-Andrew Hill "Eclectic Guide to the Excesses of the Crisis" Financial Times (August 17, 2011)

 

Extreme Money named to the longlist for the 2011 FT and Goldman Sachs Business Book of the Year award.



Book News
In prescient speeches he gave on "The Coming Credit Crash," Das, an international consultant to financial institutions and corporations, provided insights into the problematic structure and risks of the global financial system. In an analysis drawing on the ideas of philosophers as well as economists, Das critiques the "financialization" of everyday life behind such recent trends as the housing boom-and-bust, "casino banking," the "doomsday debt machine," and "botox economics." Annotation ©2011 Book News, Inc., Portland, OR (booknews.com)

Topical Term: Money
Finance
Publisher: Upper Saddle River, N.J. : FT Press, c2011
ISBN: 9780132790079
0132790076
Branch Call Number: HG221 .D257 2011
Characteristics: xx, 459 p. : ill. ; 24 cm

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StarGladiator
Dec 27, 2012

An excellent book, explaining securtizations, re-securitizations, re-re-re-securitizations, etc., along with credit derivatives scam. I respectifully disagree with the commenter below, though, as Alan Greenspan and Larry Summers have profited handsomely, their actions weren't even remotely "stupid" but criminally self-serving to the max! Das' repetition of the remarks on the Inside Job movie concerning former vice chair of the Federal Reserve (under Alan Greenspan), Fredric Mishkin, and as to how Mishkin has been fully documented as the typical bankster liar, is monumentally important for all to grasp. (FYI note: Alan Greenspan was fired for incompetency when he worked at Chase, and fired by one of the greatest economists in America today, if not the greatest, Prof. Michael Hudson.)

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kichha
Feb 19, 2012

Wonderful insider information on how the nexus between the bankers, stock brokers, traders and the politicians brings out the fools and idiots of every individual living in this world.
Brings out how stupid is Allen Greenspan, Larry Summers with negative common sense and selfish attitude.

A must read for all young readers so that they are aware of this kind of cheats when they grow up.

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