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    A Joosr Guide to... Other People's Money by John Kay: Masters of the Universe or Servants of the People?
    A Joosr Guide to... Other People's Money by John Kay: Masters of the Universe or Servants of the People?
    A Joosr Guide to... Other People's Money by John Kay: Masters of the Universe or Servants of the People?
    Ebook25 pages15 minutes

    A Joosr Guide to... Other People's Money by John Kay: Masters of the Universe or Servants of the People?

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    About this ebook

    In today's fast-paced world, it's tough to find the time to read. But with Joosr guides, you can get the key insights from bestselling non-fiction titles in less than 20 minutes. Whether you want to gain knowledge on the go or find the books you'll love, Joosr's brief and accessible eBook summaries fit into your life. Find out more at joosr.com.

    The financial sector is critical to the functioning of our economy and plays an important part in our everyday lives. But are all of its practices actually beneficial to us, to the economy, or to society in general?

    Other People's Money argues that modern banking has moved away from supporting the economy and serving society and is now isolated from the "real world," making potentially disastrous decisions with little regard for anyone outside the sector. Exploring how banks operate and the practices that can be most damaging, alongside suggestions for how the sector can be reformed, it explains everything you need to know about the failings of modern banking-and what can be done to change things.

    You will learn:

    · How internal trading makes the finance sector unstable and unsustainable

    · Why increasing regulation will not make modern banking less destructive

    · Why penalizing individual bankers is key to reforming the sector.

    LanguageEnglish
    PublisherJoosr
    Release dateJun 20, 2016
    ISBN9781785673344
    A Joosr Guide to... Other People's Money by John Kay: Masters of the Universe or Servants of the People?

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      Book preview

      A Joosr Guide to... Other People's Money by John Kay - Joosr

      takeaways

      What’s it about?

      We often think of the financial sector as the cornerstone of a strong economy, and it’s true that it does fulfill several roles that are vital to our continuing prosperity and security. But is everything that occurs truly beneficial to us? Or are some of these organization’s practices at best useless, and at worst actively harmful to society?

      John Kay raises these questions, asking whether the banking system really has our best interests, or rather its own, at heart. In Other People’s Money, he explores how the finance sector grew more self-interested in the late twentieth century through to the 2008 banking crisis and beyond, and reveals the dark underbelly of Wall Street and Canary Wharf. Kay pulls no punches in presenting modern banking as a sprawling, complex mess of conglomerates and institutions that looks mostly to itself and its own profits as a guide for its decisions, taking dangerous gambles with the money entrusted to it. But he doesn’t just criticize: he presents alternatives and discusses how these can be achieved, not through regulation, but through reform of the whole sector.

      Analyzing everything from how internal trading makes the financial sector unstable and

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