The Battle for the Soul of Capitalism

How the Financial System Undermined Social Ideals, Damaged Trust in the Markets, Robbed Investors of Trillions—and What to Do About It

John C. Bogle

• Publisher: Yale University Press
• Year: 2005
• ISBN:
  9780300134834
• Topic: Business
• Subtopic: Financial Services
• Index: Business

The legendary founder of Vanguard "presents an insider's view of what's wrong with corporate America and what can be done to improve it" (Burton G. Malkiel, author of A Random Walk Down Wall Street ). New York Times -bestselling author of Enough and The Little Book of Common Sense Investing John Bogle has seen firsthand the innermost workings—and grotesque abuses—of the financial industry, and is renowned as an advocate for the small investor and for the restoration of integrity to the system. He knows that a trustworthy business and financial complex is essential to America's continuing leadership in the world and to social and economic progress at home. In this book he reveals what went wrong and how we lost our way—and more importantly, how we can right our course. He argues for a return to a governance structure in which owners' capital that has been put at risk is used in their interests rather than in the interests of corporate and financial managers. Given that ownership is now consolidated in the hands of relatively few large mutual and pension funds, the specific reforms Bogle details in this book are essential as well as practical—and should be considered by every investor, analyst, Wall Streeter, policy maker, and businessperson. "Deserves attention in the precincts of power."— Publishers Weekly