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Customer Review

5 of 6 people found the following review helpful
3.0 out of 5 stars OK for some basics, 2 Mar. 2009
This review is from: Two Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crash (Paperback)
This book has one big plus point - it explains very clearly some of the technical stuff at the heart of the credit crunch. If you want a brief and readable overview of the types of financial instruments (CDOs, credit default swaps etc) that banks have created and how they work, plus some of the detail on on the various market actors, then this is quite a useful book, and cheap in the paperback. And the section seeking to quantify potential losses is interesting, though probably out of date.

I'm less impressed with some of his analysis, which strikes me as a little basic. Even though I'm broadly of the same opinion in terms of his commentary on increasing inequality of the past 3 decades, it's pretty thin stuff (though from memory I think he acknowledges this). In addition I don't really buy the idea of cycles in politics, I think that's an expression of a desire for an understandable narrative more than anything.

And a text moan - the endnotes are presented in a really messy way, all run-on together in big paragraphs which does not make for an accessible quick reference guide. I'm a bit bothered by the reliance on media sources too.

But given the price this is worth picking up if you just want to get your head around some of the basics.
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