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Bad Money

Audiobook
In its hubris, the financial sector has hijacked the American economy and put our very global future at risk. “Bad money” refers not just to the depreciated dollar but to the dangerous attitudes and flawed products of wayward megafinance. Also “bad” are the risk miscalculations and strategic abuses of new multitrillion-dollar products and vehicles like CDOs and SIVs. Phillips lashes out at the “bad money” practices and reckless behavior of buccaneering institutions like hedge funds and tabulates the dangers of hot-wiring U.S. home ownership to global credit instability. He exposes the absurd but insistent faith in the efficiency of casino-like markets and Washington’s reliance on misleading statistics about inflation and consumer prices. Foreign policy has taken its toll as well. The dollar is losing value in the world because of America’s financial irresponsibility and indebtedness, and the ruinous war in Iraq has severely eroded our influence over global oil producers and foreign central banks.

Expand title description text
Publisher: Books on Tape Edition: Unabridged

OverDrive Listen audiobook

  • ISBN: 9781415949917
  • File size: 272265 KB
  • Release date: April 1, 2008
  • Duration: 09:27:13

MP3 audiobook

  • ISBN: 9781415949917
  • File size: 272536 KB
  • Release date: April 1, 2008
  • Duration: 09:27:13
  • Number of parts: 8

Formats

OverDrive Listen audiobook
MP3 audiobook

Languages

English

In its hubris, the financial sector has hijacked the American economy and put our very global future at risk. “Bad money” refers not just to the depreciated dollar but to the dangerous attitudes and flawed products of wayward megafinance. Also “bad” are the risk miscalculations and strategic abuses of new multitrillion-dollar products and vehicles like CDOs and SIVs. Phillips lashes out at the “bad money” practices and reckless behavior of buccaneering institutions like hedge funds and tabulates the dangers of hot-wiring U.S. home ownership to global credit instability. He exposes the absurd but insistent faith in the efficiency of casino-like markets and Washington’s reliance on misleading statistics about inflation and consumer prices. Foreign policy has taken its toll as well. The dollar is losing value in the world because of America’s financial irresponsibility and indebtedness, and the ruinous war in Iraq has severely eroded our influence over global oil producers and foreign central banks.

Expand title description text
  • Details

    Publisher:
    Books on Tape
    Edition:
    Unabridged

    OverDrive Listen audiobook
    ISBN: 9781415949917
    File size: 272265 KB
    Release date: April 1, 2008
    Duration: 09:27:13

    MP3 audiobook
    ISBN: 9781415949917
    File size: 272536 KB
    Release date: April 1, 2008
    Duration: 09:27:13
    Number of parts: 8

  • Creators
  • Formats
    OverDrive Listen audiobook
    MP3 audiobook
  • Languages
    English