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A book that needed to be written
on 29 December 2013
There are many books which survey the events which led up to the financial crisis, and then chart its course. This book is different. It looks at the behaviour of the people involved: taking appalling risks because of inappropriate rewards; herd behaviour; the worst practices of male dominated groups and much more.
"You have to pay the most to get the best" is shown to be a fallacy, indeed a pernicious lie. The people who caused the crash are indeed "Masters of Nothing"
If only we could dismantle that and return to appropriate rewards, in right proportion to other people's remuneration, then how much better it would be for us all.
The final chapter gives a series of recommendations which, if followed, would transform our financial sector, indeed our whole society. The book would be worth it for those alone.