Did Wall Street cause the mess we are in? Should Washington place stronger regulations on the financial industry? Can we lower unemployment rates by controlling the free market? Answer: no. Not only is free-market capitalism good for the economy, it is our only hope for recovery. As the nation’s longest-serving CEO of one of the top 25 financial institutions, John Allison has had a unique inside view of the events leading up to the financial crisis. He has seen what the government has done to the real estate market and how government regulations only make matters worse. Now in this controversial wake-up call of a book, he has given us a solution.
With shrewd insight, alarming insider details, and practical advice for today’s leaders, this electrifying analysis is nothing less than a call to arms for a nation on the brink. In the end, you’ll understand why it’s so important to put the “free” back into free market.
About the author: John Allison is the former chairman and CEO of Branch Banking & Trust Corporation. He currently serves as a distinguished professor at the Wake Forest University School of Business. He is an inductee of the North Carolina Business Hall of Fame.
©2012 John Allison (P)2012 Blackstone Audio, Inc.
No--most of it was informative and interesting but he ended up talking about his other views, outside of banking, which were a bit weird
NO--the banking part was interesting, even when he talked about his own bank, but the rest was boring
Most of the book was interesting, but seemed to be poorly edited, especially at the end. At one point the author pointed to poor education for minorities (when talking about minimum wage problems) and said that they could not get jobs so they ended up dealing drugs and then got thrown into jail. This should have been edited out or modified because it sounded very strange.
The former CEO of one of the few banks that did not need the TARP bailout explains the ways banks and banking regulators failed to protect the rest of us from, and actually caused, the crash of 2008. A fascinating insider's viewpoint on US banking. Quite, quite obvious the author is a big fan of Ayn Rand, long before he said so himself.
A lot has been written about the Financial Crisis, but nothing comes closer to an analysis of all the factors and their relative contribution to the crisis. What is more, John Allison's book is easy to understand for anyone, with or without a background in finance, and offers the necessary solutions to prevent a recurrence.
You will be surprised to learn that the top 3 culprits aren't the ones touted by the pols and the media, but if you really think it through, you'll agree.
The insight and analysis of the author. Also his deep understanding of economics and free market dynamics.
Superb intonation and measured narration.
I bought 16 copies to send to friends and associates!
An incredibly good analysis of why free markets are the solution to economic stagnation and abuse. Our government has become so corrupted by special interests, on both sides of the aisle, that the true value of capitalism is being suffocated. The ignorance of basic economics by the masses adds to the problem.
(I am not Ellen. I am her assistant.) Yes. Excellent job of presenting a complex subject to both a lay audience and a reader having a professional interest in the subject.
In this book, John Allison the former BB&T CEO explains the reasons for the financial crisis of 2007-2008: Government intervention and support for Cronies such as Fannie Mae and Freddy Mac. He provides hid perspective a responsible bank CEO that saw all the distortions the government created to support fancy political goals of expanding home ownership. Every government action is usually a scheme to buy the votes of some sector of the electorate and this book provides some history into that. He goes over several aspects of the financial system and explains the history of government intervention and the bad incentives it added to the system.
He also explains the cure of true free market where everyone is left to pursue his goals as long as he doesn't use coercion against other. Mr. Allison demonstrates how a combination of pragmatism and misguided altruism drove us away from the principles that this country was built on such as liberty and limited government towards statism and redistribution. He correctly advocates for the return to these founding principles through education.
John Allison knows better than anybody what caused the Bush/Obama financial meltdown. Government interference and short-sighted crony capitalism.
It's a good listen.
I highly recommend this book. It's just the prescription for how to dig ourselves out of the current financial crisis. The failed policies of government control need to be done away with once and for all. Great book with great ideas.
Surfer, musician, business coach, healthcare facilities management director.
Really great book. Fresh information and perspective on the financial crisis. Good solid solutions. Great narration.
Report Inappropriate Content