A riveting indictment of those responsible for our current financial mess
Bailout Nation offers one of the clearest looks at the financial lenders, regulators, and politicians responsible for the financial crisis of 2008. Written by Barry Ritholtz, one of today's most popular economic bloggers and a well-established industry pundit, this book skillfully explores how the United States evolved from a rugged independent nation to a soft Bailout Nation-where financial firms are allowed to self-regulate in good times, but are bailed out by taxpayers in bad times.
Entertaining and informative, this book clearly shows you how years of trying to control the economy with easy money has finally caught up with the federal government and how its practice of repeatedly rescuing Wall Street has come back to bite them.
* The definitive book on the financial crisis of 2008
* Names the villains responsible for this tragedy-from financial regulators to politicians
* Shows how each bailout throughout modern history has impacted what happened in the future
* Examines why the consumer/taxpayer is left suffering in an economy of bubbles, bailouts, and possible inflation
Scathing, but fair, Bailout Nation is a voice of reason in these uncertain economic times.
Praise for BAILOUT NATION
"A beam of enlightened thinking in a sea of delusional complacency."
--Nouriel Roubini
"If you want to know how we got into this mess, then Ritholtz's Bailout Nation is where you should begin. He chronicled the collapse from the beginning with a rare clarity, and that shines through in this book."
--Chris Anderson, author of The Long Tail
"One of the biggest myths of the great credit debacle of 2008 is that nobody saw it coming. Bull. Barry Ritholtz did. In Bailout Nation, Ritholtz throws our current travails into historical relief. For those who want to know how we got to this miserable place--and who want to have fun doing it--this is essential reading."
--Daniel Gross, Newsweek and Slate
"Highly entertaining rants against the stupidity of our biggest financial institutions. Ritholtz brings intelligence and moral outrage to this book."
--Rex Nutting, MarketWatch
"Nobody in the financial punditry world has been 'righter' about the economic crisis unfolding than Barry. If there was such a thing as a financial pundits Hall of Fame, he would have to be an inaugural inductee. Ignore Bailout Nation at your own peril."
--Tobin Smith, founder, ChangeWave Research, and Contributing Market Analyst, Fox News
"Bailout Nation provides an easily understandable and vividly descriptive road map as to how our domestic economy got into the rut we are now in ... It is a must-read for serious students of financial history ... and for all investors in bonds and stocks who want to preserve and grow their capital in the future!"
--Doug Kass, Seabreeze Partners, Real Money.com, CNBC
"...enjoy scathing commentry, choice phrases, and juicy quotes, with 'Bailout Nation'." (NakedCapitalism.com, July 12th 2009)
"...compelling...this timely guide opens with a brief history of bailouts, detailing their particular patterns and unintended consequences." (Pensions World, August 2009)
"...his explanation is backed up by plenty of data...Ritholtz's description of the economic meltdown and it's causes is compelling." (CA Magazine, August 2009)
