The Seven Sins of Wall Street

The Seven Sins of Wall Street

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We all know that the financial crisis of 2008 came dangerously close to pushing the United States and the world into a depression rivaling that of the 1930s. But what is astonishinga€”and should make us not just afraid but very afraida€”are the shenanigans of the biggest banks since the crisis. Bob Ivry passionately, eloquently, and convincingly details the operatic ineptitude of America's best-compensated executives and the ways the government kowtows to what it mistakenly imagines is their competence and success. Ivry shows that the only thing that has changed since the meltdown is how too-big-to-fail banks and their fellow travelers in Washington have nudged us ever closer to an even bigger economic calamity. Informed by deep reporting from New York, Washington, and the heartland, The Seven Sins of Wall Street, like no other book, shows how wea€™re all affected by the financial industrya€™s inhumanity. The transgressions of a€œWall Street titansa€ and a€œmasters of the universea€ are paid for by real people. In fierce, plain English, Ivry indicts a financial industry that continues to work for the few at the expense of the rest of us. Problems that financiers deemed too complicated to be understood by ordinary folks are shown by Ivry to be financial legerdemaina€”a smokescreen of complexity and jargon that hide the bankersa€™ nefarious activities. The Seven Sins of Wall Street is irreverent and timely, an infuriating black comedy. The Great Depression of the 1930s moved the American political system to real reform that kept the finance industry in check. With millions so deeply affected since the crisis of 2008, youa€™ll finish this book asking yourself how it is that so many of the nationa€™s leading financial institutions remain such exasperating problem children.But after dozens of phone calls and countless letters and e-mails, they said Bank of America employees wouldna#39;t even ... The bank had foreclosed and was now selling the home where Walter had grown up and where he and his wife had raised four children. ... original mortgage theya#39;d been paying down for almost fifteen years, the customer service peoplea€”different ones each ... trying to push them into the federal governmenta#39;s loan-modification program, using their inflated numbers.

Title:The Seven Sins of Wall Street
Author:Bob Ivry
Publisher:PublicAffairs - 2014-03-11


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