This basically feels like a collection of newspaper articles joined together. There is little attempt at providing a coherent argument.
I was slightly odd to be reading this while the economy crashed about my ears, I dipped in and out from July - October 2008 when the markets were wildly gyrating (mostly downwards) and whole countries became insolvent (Iceland for sale anyone). So there's no arguing about this book's timeliness. Peston seems to have excellent sources but although he has a journalist's ability to grab your attention he never develops a coherent argument, every chapter is a little story but doesn't contribute to the whole.
Is it the hedge funds or the politicians or us the public at fault - it's unclear. I certainly don't have a problem with guys like Philip Green making their money, they seem to earn it by and large. I do have a problem with high earners systematically evading taxes, while gaining all the benefits of British democracy but refusing to pay for it.
I suspect after the events of 2008 nothing will be the same, there will need to be a lot more regulation and it will be a lot harder for the rich to evade taxes. On the downside credit will be a lot harder to come by.
Peston does his best, but he's neither a seer or a Philosopher and this book never really takes off. Read selectively if you're particularly interested in one topic (Leighton, pensions, Philip Green's attempted takeover of Marks and Spencer).
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