WHY WALL STREET MATTERS

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Why Wall Street Matters

Author : William D. Cohan
ISBN : 9780399590702
Genre : Business & Economics
File Size : 72.96 MB
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A timely, counterintuitive defense of Wall Street and the big banks as the invisible—albeit flawed—engines that power our ideas, and should be made to work better for all of us Maybe you think the banks should be broken up and the bankers should be held accountable for the financial crisis in 2008. Maybe you hate the greed of Wall Street but know that it’s important to the proper functioning of the world economy. Maybe you don’t really understand Wall Street, and phrases such as “credit default swap” make your eyes glaze over. Maybe you are utterly confused by the fact that after attacking Wall Street mercilessly during his campaign, Donald Trump has surrounded himself with Wall Street veterans. But if you like your smart phone or your widescreen TV, your car or your morning bacon, your pension or your 401(k), then—whether you know it or not—you are a fan of Wall Street. William D. Cohan is no knee-jerk advocate for Wall Street and the big banks. He’s one of America’s most respected financial journalists and the progressive bestselling author of House of Cards. He has long been critical of the bad behavior that plagued much of Wall Street in the years leading up to the 2008 financial crisis, and because he spent seventeen years as an investment banker on Wall Street, he is an expert on its inner workings as well. But in recent years he’s become alarmed by the cheap shots and ceaseless vitriol directed at Wall Street’s bankers, traders, and executives—the people whose job it is to provide capital to those who need it, the grease that keeps our economy humming. In this brisk, no-nonsense narrative, Cohan reminds us of the good these institutions do—and the dire consequences for us all if the essential role they play in making our lives better is carelessly curtailed. Praise for William D. Cohan “Cohan writes with an insider’s knowledge of the workings of Wall Street, a reporter’s investigative instincts and a natural storyteller’s narrative command.”—The New York Times “[Cohan is] one of our most able financial journalists.”—Los Angeles Times “A former Wall Street man and a talented writer, [Cohan] has the rare gift not only of understanding the fiendishly complicated goings-on, but also of being able to explain them in terms the lay reader can grasp.”—The Observer (London)
Category: Business & Economics

Four Friends

Author : William D. Cohan
ISBN : 9781250070531
Genre : Biography & Autobiography
File Size : 83.88 MB
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A powerful portrait of the lives of four boarding school graduates who died too young, John F. Kennedy, Jr. among them, by their fellow Andover classmate, New York Times bestselling author William D. Cohan. In his masterful pieces for Vanity Fair and in his bestselling books, William D. Cohan has proven to be one of the most meticulous and intrepid journalists covering the world of Wall Street and high finance. In his utterly original new book, Four Friends, he brings all of his brilliant reportorial skills to a subject much closer to home: four friends of his who died young. All four attended Andover, the most elite of American boarding schools, before spinning out into very different orbits. Indelibly, using copious interviews from wives, girlfriends, colleagues, and friends, Cohan brings these men to life on the page. Jack Berman, the child of impoverished Holocaust survivors, uses his unlikely Andover pedigree to achieve the American dream, only to be cut down in an unimaginable act of violence. Will Daniel, Harry Truman’s grandson and the son of the managing editor of The New York Times, does everything possible to escape the burdens of a family legacy he’s ultimately trapped by. Harry Bull builds the life of a careful, successful Chicago lawyer and heir to his family’s fortune...before taking an inexplicable and devastating risk on a beautiful summer day. And the life and death of John F. Kennedy, Jr.—a story we think we know—is told here with surprising new details that cast it in an entirely different light. Four Friends is an immersive, wide-ranging, tragic, and ultimately inspiring account of promising lives cut short, written with compassion, honesty, and insight. It not only captures the fragility of life but also its poignant, magisterial, and pivotal moments.
Category: Biography & Autobiography

Reports And Documents

Author : United States. Congress
ISBN : MINN:31951D02286175K
Genre :
File Size : 27.65 MB
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The Age Of Entitlement

Author : Christopher Caldwell
ISBN : 9781501106897
Genre : History
File Size : 86.48 MB
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A major American intellectual makes the historical case that the reforms of the 1960s, reforms intended to make the nation more just and humane, instead left many Americans feeling alienated, despised, misled—and ready to put an adventurer in the White House. Christopher Caldwell has spent years studying the liberal uprising of the 1960s and its unforeseen consequences. Even the reforms that Americans love best have come with costs that are staggeringly high—in wealth, freedom, and social stability—and that have been spread unevenly among classes and generations. Caldwell reveals the real political turning points of the past half century, taking readers on a roller-coaster ride through Playboy magazine, affirmative action, CB radio, leveraged buyouts, iPhones, Oxycontin, Black Lives Matter, and internet cookies. In doing so, he shows that attempts to redress the injustices of the past have left Americans living under two different ideas of what it means to play by the rules. Essential, timely, hard to put down, The Age of Entitlement is a brilliant and ambitious argument about how the reforms of the past fifty years gave the country two incompatible political systems—and drove it toward conflict.
Category: History

Why Bank Panics Matter

Author : Frederick Betz
ISBN : 9783319017570
Genre : Business & Economics
File Size : 21.96 MB
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Bank panics have always mattered because they create serious disruptions in economic and financial activity, depressing national economies. But they matter even more now, as information and communications technologies have stitched together a global financial system that is more vulnerable to crisis on a large scale. For example, the global bank panic of 2007-08 froze up the national economies of the U.S., England, France, Iceland, Ireland, and Germany -- all at the same time. And each of their governments had to act to bail out their own banks, without a consistent international regulatory framework. In this volume, Fred Betz takes a unique, cross-disciplinary approach to understanding bank panics, with an emphasis on the U.S. Bank Panics of 1857, 1907, 1930-33, 2007-08 and the European Bank Panics of 2010-2013. Despite over a hundred years of modern economic theory and many excellent historical studies about bank panics, they are still poorly understood and certainly not yet preventable. Partly this has been a function of the limitations of modern economic theory, which cannot interpret bank panics as complex societal phenomena. All societal phenomena are, in reality, multi-disciplinary in scope and cross-disciplinary in connections. Bank panics can best be understood through the collective lenses of sociology, political science, psychology, management science, management of technology, among other disciplines. Through this dynamic approach, the author identifies five key underlying triggers of bank panics: (1) funding excessive leverage in speculation, (2) lack of proper banking regulation, (3) bad banking practices, (4) lack of banking integrity, (5) corrupt banking practices. In so doing, he suggests new strategies for avoiding and recovering from bank panics and other financial crises.
Category: Business & Economics

Why Coolidge Matters

Author : Charles C. Johnson
ISBN : 9781594036705
Genre : Biography & Autobiography
File Size : 60.37 MB
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Imagine a country in which strikes by public-sector unions occupied the public square; where foreign policy wandered aimlessly as America disentangled itself from wars abroad and a potential civil war on its southern border; where racial and ethnic groups jostled for political influence; where a war on illicit substances led to violence in its cities; where technology was dramatically changing how mankind communicated and moved about—and where the educated harbored increasing contempt for the philosophic underpinnings of our republic. That country, the America of the 1920s, looked a lot like America today. One would think, then, that the President who successfully navigated these challenges, Calvin Coolidge, might be esteemed today. Instead, Coolidge’s record is little known, the result of efforts by both the left and right to distort his legacy. Why Coolidge Matters revisits the record of our most underrated president, examining Coolidge’s views on governance, public sector unions, education, race, immigration, and foreign policy. Most importantly, Why Coolidge Matters explains what lessons Coolidge—the last president to pay down the national debt—can offer the limited government movement in the post-industrial age.
Category: Biography & Autobiography

Why Philanthropy Matters

Author : Zoltán J. Ács
ISBN : 9780691148625
Genre : Business & Economics
File Size : 47.46 MB
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Philanthropy has long been a distinctive feature of American culture, but its crucial role in the economic well-being of the nation--and the world--has remained largely unexplored. Why Philanthropy Matters takes an in-depth look at philanthropy as an underappreciated force in capitalism, measures its critical influence on the free-market system, and demonstrates how American philanthropy could serve as a model for the productive reinvestment of wealth in other countries. Factoring in philanthropic cycles that help balance the economy, Zoltan Acs offers a richer picture of capitalism, and a more accurate backdrop for considering policies that would promote the capitalist system for the good of all. Examining the dynamics of American-style capitalism since the eighteenth century, Acs argues that philanthropy achieves three critical outcomes. It deals with the question of what to do with wealth--keep it, tax it, or give it away. It complements government in creating public goods. And, by focusing on education, science, and medicine, philanthropy has a positive effect on economic growth and productivity. Acs describes how individuals such as Benjamin Franklin, Andrew Carnegie, Bill Gates, and Oprah Winfrey have used their wealth to establish institutions and promote knowledge, and Acs shows how philanthropy has given an edge to capitalism by promoting vital forces--like university research--necessary for technological innovation, economic equality, and economic security. Philanthropy also serves as a guide for countries with less flexible capitalist institutions, and Acs makes the case for a larger, global philanthropic culture. Providing a new perspective on the development of capitalism, Why Philanthropy Matters highlights philanthropy's critical links to the economic progress, health, and future of the United States--and beyond.
Category: Business & Economics

Why Social Justice Matters

Author : Brian Barry
ISBN : 9780745629926
Genre : Law
File Size : 23.44 MB
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While social injustice has been increasing, the idea of social justice has been undermined by unfounded appeals to "personal responsibility" and "equal opportunity." Brian Barry exposes the shoddy logic and distortion of reality that underpins this ideology. Once we understand the role of the social structure in limiting options, we have to recognize that really putting into practice ideas such as equal opportunity and personal responsibility would require a fundamental transformation of almost all existing institutions. Barry argues that only if inequalities of wealth and income are kept within a narrow range can equal prospects for education, health and autonomy be realized. He proposes a number of policies to achieve a more equal society and argues that they are economically feasible. But are they politically possible? The apparent stability of the status quo is delusory, he responds: radical changes in our way of life are unavoidable.
Category: Law

Why Unions Matter

Author : Michael D. Yates
ISBN : 9781583673669
Genre : Business & Economics
File Size : 85.97 MB
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In this new edition of Why Unions Matter, Michael D. Yates shows why unions still matter. Unions mean better pay, benefits, and working conditions for their members; they force employers to treat employees with dignity and respect; and at their best, they provide a way for workers to make society both more democratic and egalitarian. Yates uses simple language, clear data, and engaging examples to show why workers need unions, how unions are formed, how they operate, how collective bargaining works, the role of unions in politics, and what unions have done to bring workers together across the divides of race, gender, religion, and sexual orientation. The new edition not onlyupdates the first, but also examines the record of the New Voice slate that took control of the AFL-CIO in 1995, the continuing decline in union membership and density, the Change to Win split in 2005, the growing importance of immigrant workers, the rise of worker centers, the impacts of and labor responses to globalization, and the need for labor to have an independent political voice. This is simply the best introduction to unions on the market.
Category: Business & Economics