- 320 pages
- English
- ePUB (mobile friendly)
- Available on iOS & Android
eBook - ePub
About this book
I started writing this book three years ago to amuse my fellow bankers. Little did we all know what was about to happen. But we should have. Sorry.' CLARK McGINN. Cliches are the fossils of wisdom. That's why we ignore them. Particularly those with warnings ('the value of your investments may go down as well as up') and especially in the happy days of a financial boom. Shock! Horror! The cliche was true and we are left staring into a crater once known as the financial markets. This has happened before - this bust is a whopper but it shares the symptoms of the crash in which your parents lost money, and their parents and theirs before them. So don't believe this is the last credit crunch - there are teenage optimists alive now who will reach maturity and guide our children into the next boom and its collapse. Collective Amnesia ensures that the long view is smothered as we watch the pendulum swing from greed to fear and back again. This isn't just a disease of a shadowy group of bankers but is a communal blunder in which we all share - financiers, regulators, politicians, even ordinary savers or buyers of houses, cars and consumer goods, we all chased the market up the hill and over the cliff and we all end up out of pocket. Written by a senior banker with many years' experience, this book takes the long view. It shows how simple the basics of banking are and tells the stories of how we lost money in similar ways over the centuries. Read it and you might just lose less money next time! BACK COVER: If only the world's finance ministers, bank CEOs, non execs, customers, borrowers, little old ladies, all of us had read this book 3 years ago, or 30 years ago, we wouldn't be in the mess we're in. But we are. So read this book and weep. And take solace in the fact that financial calamities have happened many many times before, and will happen again.
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Yes, you can access Out of Pocket by Clark McGinn in PDF and/or ePUB format, as well as other popular books in Economía & Historia económica. We have over one million books available in our catalogue for you to explore.
Information
Table of contents
- Cover
- Author Bio
- Title Page
- Copyright
- Dedication
- quotes
- Contents
- Acknowledgements
- Introduction
- Part I
- If it looks too good to be true – it is
- CASE STUDY ONE
- CASE STUDY TWO
- CASE STUDY THREE
- CASE STUDY FOUR
- CASE STUDY FIVE
- CASE STUDY SIX
- CASE STUDY SEVEN
- CASE STUDY EIGHT
- CASE STUDY NINE
- CASE STUDY TEN
- CASE STUDY ELEVEN
- Part II
- The plumbing that underpins not just the financial world but the whole world too
- RISK AND REWARD
- THREE KINDS OF BANK
- SAFE AS HOUSES – A PRIME EXAMPLE
- INVESTMENT BANKING
- WHAT HAPPENED THIS TIME AND WHY?
- THE TURNING OF THE TIDE
- EXPOSED ON THE BEACH
- NON CREDEREUNT – I JUST DON’T BELIEVE IT
- DOMINO DAY
- THE BIG DOMINO FALLS
- THE CURIOUS CASE OF THE DOG IN THE BOOMTIME
- THAT’S ANOTHER FINE MESS YOU’VE GOTTEN ME INTO
- WHAT NEXT AND WHEN?
- Part III
- The Ten Laws of Banking and how they got broke
- FIRST LAW OF BANKING
- SECOND LAW OF BANKING
- THIRD LAW OF BANKING
- FOURTH LAW OF BANKING
- FIFTH LAW OF BANKING
- SIXTH LAW OF BANKING
- SEVENTH LAW OF BANKING
- EIGHTH LAW OF BANKING
- NINTH LAW OF BANKING
- TENTH LAW OF BANKING
- Part IV
- The End is Nigh
- Part V
- GLOSSARY
- Part VI
- CHRONOLOGY
- Reporter
- Book Group Discussion Topics
- Luath