"I would sleep better if I knew that Bernanke, Geithner, Bachus,
Sen. Tim Johnson, Obama and Romney all kept dog-eared copies of
Kevin Mellyn's Broken Markets on their nightstands. . . . Mellyn's
work is a fascinating, important, and eminently good read and
should inform the debate on overhauling the U.S. and global
financial regulatory systems and sustainable macro fiscal and
monetary policy." --Eric Grover, in his review of Broken Markets in
The American Banker Broken Markets allows the intelligent
non-specialist to understand and navigate the ongoing worldwide
aftermath of the 2008 financial market meltdown. The key theme of
the book is how the leading financial institutions and the
political leadership of the U.S. and European Union have failed us
and set the stage for continued market turmoil. It explainswhat
this means for investors, borrowers, society in general, and the
financial-services industry. Former banker Kevin Mellyn focuses on
providing readers with clear and simple explanations of the forces
at work and the potential consequences for their future prosperity.
As this book makes clear, what's coming is a world in which high
structural unemployment and flat or declining real income is
likelynot to mention a diminished retirement financial safety net.
The book therefore provides actionable information for protecting
wealth and making prudent investment decisions in an economy that
is nothing like the one that has sustained us for decades. As a
forward-looking narrative about rapidly changing events and
volatile markets and politics, Broken Marketswill provide no single
prediction about the future but rather describe alternative
scenarios and provide the reader with signposts to watch out for in
deciding which reality is actually unfolding. Unlike most books
written by journalists on global finance, the scenarios and
signposts described will be largely based on the lessons of
financial and political history rather than breaking news. This
book: Tells you in plain language how today's financial system
threatens your livelihood and wealth Tells you why and how
governments worldwide, with some notable exceptions, are taking
actions likely to make things worse instead of better Explains how
the leading financial institutions lost their way during the bubble
years and how they can find the path back to prosperity and value
to society Tells you what life will be like in a post-finance
economy and how you can protect your wealth What you'll learn
After reading Broken Markets, you will: Understand how
governments and financial leaders made poor decisions and the
consequences in both the short and long term Connect the dots
between seemingly unconnected market developments Understand how
global finance really influences your livelihood Evaluate
professional investment advice critically Make an independent,
informed evaluation of competing economic and political policies
Develop a long-term financial game plan for a post-finance world
Impress your friends and family with your financial savvy Who this
book is for
Broken Markets is forpeople who have savings and investments,
watch the business news, read the Wall Street Journal or Financial
Times at least occasionally, and just want to make sense of the
post-2008 crisis world while taking steps to protect their hard-won
wealth. It is not intended for financial professionals, though it
will strike a chord there. Mostly it is for the sensible, educated
man and woman looking for straight talk and clarity. It is also a
good choice for students and young people just starting their
careers since it teaches them things their teachers (and often
their employers) never told them. Above all, it is a good choice
for anyone who likes to be informed, provoked into re-examining
beliefs and assumptions, and entertained by sharp-edged writing.
Table of Contents Introduction Chapter 1: The Rise and Fall of the
Finance-Driven Economy Chapter 2: Banking, Regulation, and
Financial Crises Chapter 3: Economic Consequences ofRegulation
Chapter 4: Life after Finance Chapter 5: Global Whirlwinds Chapter
6: The Consumer in the World After Finance Chapter 7: The
Reconstruction of Finance
General
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