Fool’s Gold by Gillian Tett – From award-winning Financial Times journalist Gillian Tett, who enraged Wall Street leaders with her news-breaking warnings of a. At some point during Gillian Tett’s absorbing year gallop across the The sub -title of Fool’s Gold panders to this, suggesting “unrestrained. Gillian Tett, who oversees global market coverage for The Financial Times, offers some of each. In “Fool’s Gold,” she describes how a small.

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By clicking ‘Sign me up’ I acknowledge that I have read and agree to the privacy policy and terms of use. Made a Fortune and Survived a Catastrophe. Nov 21, Avadhut rated it really liked it. Hardcoverpages. In fact it is a lesson discussed and played out in the pages of the book.

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I confess to a bias in Ms. Morgan, which came out slightly less dirty than most everyone else once the dust settled. If you read the Wall Street Journal for fun, this will be an entertaining and informative read. Topics Business and finance books The Observer. I don’t often read books for work I prefer to keep reading an enjoyable hobby but every once in a while my love of reading and desire to learn more about the industry I work in collide.

A very interesting read, with lots of details and a good flow; however, Tett’s writing doesn’t allow for the drama to come through, like in other contemporary business failure books. Sep 23, Laura rated it it was amazing.

But whether the house of Pierpoint Morgan should be off the hook is another question, and Tett is ambivalent enough to keep us guessing.

Morgan developed and championed credit derivative swaps CDS. Is this feature helpful?


From award-winning “Financial Times” journalist Gillian Tett, who enraged Wall Street leaders with her newsbreaking warnings of a crisis more than a year ahead of the curve, “Fool’s Gold” tells the astonishing unknown story at the heart of the meltdown.

Tett follows specific individuals who developed the financial tools that facilitated the crisis, but while she fleshes out their individual motivations and personalities, ultimately we get the sense that it is the wider culture of finance, rather than individuals gild should be blamed for the crisis.

Worse, we now have a president that wants to roll back the laws that corrected the problems brought about, roll back regulation and the power of regulators, and set us up for another massive cost to the tax payer.

But among the drinking, nightclubbing and fist-fights lay a more serious purpose – to assess the possibility of building a business around the new-fangled concepts of credit derivatives.

It’s a well-written book and one of the best I’ve read in explaining in simple I was pleasantly surprised by this book, as the rather hysterical sub-title had me worried.

The third bash took place in January this year, at the World Economic Forum, where Jamie Dimon, the chief executive of JP Morgan Chase, was one of only a few chastened senior bankers to show his face. Add all three to Basket. What lessons were learned?

Frankenstein type scenario where some financial engineers with goo Excellent read. A lot more questions than answers at this point, I’m afraid. Jul 25, Julie rated it really liked it Shelves: I was pleasantly surprised by this book, as the rather hysterical sub-title had me worried.

I’ve done a fair amount of reading about the Panic ofand Gillian Tett’s “Fools Gold” explains the exotic investment instruments at the heart of the panic better than any other work I’ve read.

This book analyzes the worldwide financial crisis of the first decade of the 21st century from the point of view of one of the major market participants who created and sold complex financial products, Flol. From a modern perspective this is a moment that changed the world of Finance. Sep 15, Randy rated it it was amazing. Kindle Edition Verified Purchase.

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Like Michael Lewis, She also explains that in order to understand the actions of an individual we have to look at the incentives that drive them. Showing of reviews. Amazon Business Service for business customers. Very well worth a read for an explanation of the crisis, for some of the history of J.

Fascinating, she also probed the consequences of disconnecting finance capitalism – money exchange – from the people it is mea If anyone doubts the value of a golv anthropology PhD, then this book offers a great answer and rebuke.

There’s a problem loading this menu at the moment. Would you like to see more reviews about ttett item? The end result is hubris and eventual catastrophe.

If I hadn’t worked in the financial industry I might be lost at points. I lived through this period of history and now read a fantastic account of trtt was happening. But it is Terri Duhon, another female financier, who best sums up Tett’s core thesis: Now, I am still no bold expert, but I feel like Tett has provided me with a primer to sort through the mess brought about by a small band of investment bankers that left a devastating trail of destruction through the livelihoods of many.