The 86 Biggest Lies on Wall Street

by TALBOTT, JOHN R.

• ISBN13: 9781583228876
• ISBN10: 158322887X
• Format: Hardcover
• Copyright: 2009-06-08
• Publisher: Seven Stories Press

Summary

"Talbott is an oracle with a track record: His previous books predicted the collapse of both the housing bubble and the tech-stock binge before it."-Bloomberg.com"Talbott gives fiscal politics a shot of excitement and, yes, hope."- Publishers WeeklyInvestors and citizens around the world realize, as never before, that we were misled-lied to-about the stability of our financial system. But what now?The 86 Biggest Lies on Wall Street exposes the lies and then exposes us to the truth of what it will take to rebuild our economy. As a former investment banker at Goldman Sachs, John R. Talbott knows firsthand how the financial system operates and how to fix it. As the "oracle" who predicted the housing crisis in his 2003 book, The Coming Housing Crisis , and called the election for Obama when the senator from Illinois was still the underdog ( Obamanomics ), Talbottrs"s revelations about how Wall Street really works are as clear-eyed and undeniable as his predictions and recommendations for our economic future are tough, sensible, and exciting. We may ignore them at our peril.John R. Talbott is the author of six previous books on economics and politics, including, most recently, Obamanomics: How Botton-Up Economic Prosperity Will Replace Trickle-Down Economics and Contagion: The Financial Epidemic That is Sweeping the Global Economy . . . and How to Protect Yourself from It . He has written for The Wall Street Journal , The Financial Times , The Boston Globe , San Francisco Chronicle , Buzzflash.com, and Alternet, and he has appeared as a commentator on CNN, Fox, CNBC, CBS, and MSNBC.

Author Biography

John R. Talbott is the author of six previous books on economics and politics, including, most recently, Obamanomics: How Economic Prosperity Will Replace Trickle-Down Economics and Contagion: The Financial Epidemic that Is Sweeping the Global Economy. He has written for The Wall Street Journal, The Financial Times, The Boston Globe, San Francisco Chronicle, Buzzflash, and Alternet, and he has appeared as a commentator on CNN, Fox, CNBC, CBS, and MSNBC.

Table of Contents

The 86 Biggest Lies on Wall Street	p. x
Introduction	p. 1
Lies About What Caused This Mess	p. 15
Lies About How to End the Crisis	p. 45
Investment Strategy Lies	p. 63
Stock Investing Lies	p. 83
Bond Investing Lies	p. 103
Lies About Other Investments	p. 115
Lies in Economics	p. 131
Lies in Finance	p. 157
Lies About the Global Economy	p. 167
Lies About Hedge Funds and the Derivatives Market	p. 185
Lies About Government and Regulation	p. 207
The Real Reform Needed on Wall Street	p. 221
Index	p. 235
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