13 Bankers

The Wall Street Takeover and the Next Financial Meltdown

By: Simon Johnson, James Kwak

Narrated by: Erik Synnestvedt

Length: 8 hrs and 59 mins

Publisher's summary

Even after the ruinous financial crisis of 2008, America is still beset by the depredations of an oligarchy that is now bigger, more profitable, and more resistant to regulation than ever. Anchored by six megabanks, which together control assets amounting to more than 60 percent of the country's gross domestic product, these financial institutions (now more emphatically "too big to fail") continue to hold the global economy hostage, threatening yet another financial meltdown with their excessive risk-taking and toxic "business as usual" practices. How did this come to be - and what is to be done?

These are the central concerns of 13 Bankers, a brilliant, historically informed account of our troubled political economy. Prominent economist Simon Johnson and James Kwak give a wide-ranging, meticulous, and bracing account of recent U.S. financial history within the context of previous showdowns between American democracy and Big Finance. They convincingly show why our future is imperiled by the ideology of finance (finance is good, unregulated finance is better, unfettered finance run amok is best) and by Wall Street's political control of government policy pertaining to it.

The choice that America faces is stark: whether Washington will accede to the vested interests of an unbridled financial sector that runs up profits in good years and dumps its losses on taxpayers in lean years, or reform through stringent regulation the banking system as first and foremost an engine of economic growth. To restore health and balance to our economy, Johnson and Kwak make a radical yet feasible and focused proposal: reconfigure the megabanks to be "small enough to fail".

©2010 Simon Johnson and James Kwak (P)2010 Tantor

Critic reviews

“Johnson and Kwak not only tell us in great detail how the crisis happened...but they see the deeper political and cultural context that permitted carelessness and excess nearly to break the financial system.” (Bill Bradley, former U.S. senator)

“If the wads of money you’re stuffed into your mattress for safekeeping don’t keep you up at night, 13 Bankers will. A disturbing and painstakingly researched account of how the banks wrenched control of government and society out of our hands – and what we can do to seize it back.” (Bill Moyers)

"Our future depends on fixing our financial system; 13 Bankers shows us how.” (Arianna Huffington)

Good review of banking sector

While this is not light entertainment, it is an accessible study of the 2008 banking crisis, its historical, social, and political context. The authors are also quite specific in their indication of how to avoid the next, similar crisis.

At times the narrator seemed to have a sort of Valley Girl intonation pattern that bothered me, but otherwise it was an engaging performance of a difficult text.

worth the time to read

it gives one a good eye sight why we are in the mess we are. A lot of good historical facts. Worth the time to listen

Interesting content: snoozeville narration

I have over 3 dozen audio books from Audible and this is the first time I've decided to buy the book and just read it. I want to hear Simon Johnson's take on these 13 powerful bankers -- and their grip on our economy, but the narration has an odd cadence. The beginning of sentences start out fine, but the narrator ends the last few syllables of nearly every sentence in a clipped staccato. The effect is nearly hypnotic. The content is already somewhat dry and I listen while commuting 2 hours each week -- sometimes late in the evening. I listen to keep me alert -- but this narrator's style lulls me like a baby. Listen to the sample -- maybe it won't bother you and the content is certainly worth the listen/read.

couldn't get through it

Too many stories to follow. Plus, I just finished Quants so I feel I wasn't in the mood for another book about the banking crisis that we all just went through.

Boring

Mostly a history of financial regulation, from Jefferson to date. Usually inadequate descriptions of the complicated financial instruments that were involved in the recent financial crash. For me, boring, not enhanced by the unchanging, disdainful manner of the reader. Not nearly as informative or interesting as Michael Lewis's "The Big Short."

Narrator is terrible

I listen to a lot of books and this is one of the worst narrations I have heard. I can't get through any chapters because I don't want to listen to this guys voice. Another book with a good narration (not more exciting) is The Big Short. I could get through that one. Some books you just have to read yourself.

So this is not a book review as I can't get through any part of the book.

Revisionist History

The author cannot go an entire paragraph without giving us his left leaning slant.

Waste of Time! If you want a narration of the crash then you should get "The Quants", or Lewis's "The Big Short". Both books have a lefty slant, but these at least tell the real story.