13 Bankers: The Wall Street Takeover and the Next Financial by Simon Johnson, James Kwak

By Simon Johnson, James Kwak

Inspite of its key function in growing the ruinous monetary trouble of 2008, the yank banking has grown higher, extra ecocnomic, and extra immune to legislation than ever. Anchored through six megabanks whose resources volume to greater than 60 percentage of the country’s gross family product, this oligarchy proved it may first carry the worldwide economic climate hostage after which use its political muscle to struggle off significant reform. 13 Bankers brilliantly charts the increase to strength of the monetary region and forcefully argues that we needs to get a divorce the massive banks if we wish to stay away from destiny monetary catastrophes.
Updated, with new research of the government’s fresh try to reform the banking undefined, it is a well timed and professional account of our stricken political financial system.

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Additional resources for 13 Bankers: The Wall Street Takeover and the Next Financial Meltdown

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Com) have added more conventional services. Discount brokers offer a couple of advantages over full-service brokers, including the following: ✓ Lower cost: This lower cost is usually the result of lower commissions. ✓ Access to information: Established discount brokers offer extensive educational materials at their offices or on their websites. Before choosing a discount broker, make sure you understand all possible fees you may be charged. ) Picking among types of brokerage accounts Most brokerage firms offer investors several different types of accounts, each serving a different purpose.

P/E: The ratio between the price of the stock and the company’s earnings. It’s frequently used to determine whether a stock is a good value. Value investors (see Book VII) find P/E ratios to be essential to analyzing a stock as a potential investment. In the P/E ratios reported in stock tables, price refers to the cost of a single share of stock. Earnings refers to the company’s reported earnings as of the most recent four quarters. ✓ Day last: How trading ended for a particular stock on the day represented by the table.

Pay attention to a company’s bond rating. The bond rating offers insight into the company’s financial strength. Standard & Poor’s (S&P) is the major independent rating agency that looks into bond issuers. The highest rating issued by S&P is AAA. The grades AAA, AA, and A are considered investment grade, or of high quality. Bs and Cs indicate a poor grade, while anything lower than that is considered very risky (these bonds are referred to as junk bonds). Look at income stocks in the same way that you do growth stocks when assessing the financial strength of a company.

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