13 March 2010

Book: I.O.U.

As part of my current effort to become more informed about the state of the country, economy and markets I recently finished reading I.O.U. by John Lanchester.  While Life Inc. described the nature of the corporation and the devastating effects it is having on humanity across the board, I.O.U. focuses specifically on the global financial crisis precipitated mostly by Wall Street and enabled by many others.

It's very comprehensible delve into the antics of modern banking and a "wake up call" to anyone who thinks the banks are 1) taking care of your money, or 2) care about your portfolio.  Your deposits are leverage for the real money, lending.

I highly recommend this book and though I think there are other ways to get this material this one is particularly good at showing how bizarre the financial world has become.

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