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Dumb Money: How Our Greatest Financial Minds Bankrupted the Nation
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Features:- ISBN13: 9781439159873
- Condition: NEW
- Notes: Brand New from Publisher. No Remainder Mark.
Binding: Paperback
Dewey Decimal Number: 338.542
EAN: 9781439159873
ISBN: 1439159874
Label: Free Press
Manufacturer: Free Press
Number Of Items: 1
Number Of Pages: 112
Publication Date: April 14, 2009
Publisher: Free Press
Studio: Free Press
Editorial Review:
Product Description:
The financial crisis that has gripped this country since last September has had so many twists and turns, it would make for a great drama -- if it all were not so real and damaging. Companies are shutting down and laying off workers, 401ks are melting away, and the government is spending $700 billion dollars to bail out banks and financial institutions -- and that's only the beginning. The financial services industry, and the many industries that depend on it -- from housing to cars -- is in intensive care.
So what happened? How did we get to this point of financial disaster? Is the economy just a huge, Madoff-esque Ponzi scheme? It is a complicated and confusing story -- but Daniel Gross of Newsweek has a special gift for making complicated matters easy to understand and even entertaining. In Dumb Money, he offers a guide to the debacle and to what the future may hold. This is not so much a book about who did what, though that's part of the story. Rather, it pieces together the building blocks of the debt-fueled economy, and distills the theory and personalities behind our late, lamented easy money culture. Dumb Money is a book that finally lays it all out in an engaging way, and might just help people invest their money smartly until the gloom passes.
Average Rating: 
Rating: -
Hindsight is always 20-20 and everything is always so obvious after the fact. Daniel Gross offers a concise view at the mechanics of the financial meltdown, which points out the root problems, how they developed, and the mania that ensued. Refreshingly, the author does not carry any political biases and instead focuses on the facts. If you're looking for a short and approachable summary of the meltdown, then this is it.
On the other hand, what makes this book so good as a summary, is ... Read More
Rating:  -
This is a very basic explanation of what caused the collapse of the financial system. Basic. The intent was not to provide all the financial rationale or details of what happened. The intent is to give a broad based overview of what caused the collapse. To completely understand it all in detail you would have to first be very experienced in this field and/or very financially literate (which most are not), and you would need to read tome after tome on the subject. But, if you have said, "Could ... Read More
Rating: -
Recently I read a Newsweek column by Daniel Gross documenting that U.S. private employment today is less than in 2000, despite population having grown 9%. That bit of basic insight led me to read his "Dumb Money" about how the Ownership Society quickly degenerated into the Bailout Nation during the same time period. The book is short (101 paperback-sized pages), interesting (even entertaining), yet comprehensive, covering all the decade's financial 'stars' - Ben Bernanke - keeping interest rates ... Read More
Rating:  -
"Dumb Money" is an easy-to-read account of how greed, ignorance, and wishful thinking combined to produce the great economic bubble of 2004-2007 and how it all fell apart in 2008. It is entertaining and somewhat informative, but the author glosses over (or ignores) the role that the Federal Government and the Federal Reserve Bank played in creating this speculative binge. He makes it sound like greedy Wall Street types were the prime villains, and while the financial industry certainly was a key player, ... Read More
Rating: -
No table of contents. No index. A rush job to the printer. But it could be just right for you if you are looking for a condensed version of this historic financial disaster. The booklet is only about 100 pages long and should not take more time to read than a Newsweek magazine. The author urges investors to be smarter. His contribution to reducing the amount of dumb money out there (is that a euphemism for dumb people with money?). But he also believes that Wall Street will always find ways around all regulations. ... Read More
Dumb Money: How Our Greatest Financial Minds Bankrupted the Nation Books
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