Thursday, May 20, 2010

Your Money, Their Pockets

"To put it bluntly, as this book does: the efficient-market hypothesis does not work. It never has. Markets are not self-­correcting. Left to their own devices, bankers at the biggest institutions can’t seem to stop themselves from speculating with borrowed money until they inevitably crash the system"

Louis Uchitelle, Your Money, Their Pockets, New York Times Book Review, April 25, 2010

In a book review of:
13 Bankers: The Wall Street Takeover and the Next Financial
, By Simon Johnson and James Kwak, 304 pp. Pantheon Books. $26.95

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