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Synopsis

An engaging look at how modern finance almost destroyed ourglobal economy

Over the last thirty years, capital markets have beenrestructured through the tenets of modern finance. This has beenenormously profitable for the financial services sector. However,these innovations, coupled with unsound risk and regulatorypractices have proved disastrous for the global economy.

In a clear and accessible style, ex-investment banker andfinancial journalist Martin Hutchinson, and highly respectedacademic, Kevin Dowd show how modern finance combined with easymoney threatened to bring down the world financial system. At theheart of the book is modern finance as a U.S. invention, thetheories and practices associated with them, and the changes theymade in business models and risk management on Wall Street andother major financial centers.

  • Breaks down the events involved in the 2007-08 financialcollapse
  • Reveals how botched policy response made a bad situationworse
  • Focuses on lessons that the practice of finance must learn fromrecent events

The Alchemists of Loss will help you to understand howour financial system crashed and show you what it will taketo make sure this won't happen again as we move forward.

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