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Money&Banking - Book Report/Review Example

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After the Music Stopped was able to receive recognition and named among The Best Books of the 2013 by Michiko Kakutani and the New York Times Book Review. The author of this book, Binder, who is a master storyteller, provides one of the best books talking about the financial…
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Money&Banking
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Download file to see previous pages Through this masterpiece of After the Music Stopped, he is narrating how the worst economic crisis-taking place through the postwar American history has been able to happen, highlighting on measures that the government did in fighting this economic crisis, and what people must do in order to recover from it.
Through bracing clarity in his work, Binder managed to chronicle on the perfect storm of events starting back in 2007, which highlights on the bursting of the housing bubble towards the implosion of the bond bubble, and going ahead to highlight how the events in the U.S. were able to spread all round the interconnected global economy. On the unfortunate end, Binder makes judgments on some controversial issues that he considers not to be controversial. He was able to minimize on the role of the government towards the creation of the crisis, by omitting some important facts that were contradicting his argument. In this book, Binder was describing the financial industry as being an example to the laissez-faire, even though in reality it remains to be highly regulated (Blinder, 2013).
In this latter claim, Binder lays blame on the private sector on what was ideally the joint responsibility of the regulated industry together with its regulators. As another striking fact, Mr. Binder stated that he was having faith in the government’s power in making things change for the better despite having his own exposition upon a series of government actions that he was by himself able to agree admit were mistakes. One of the most important on a matter that was relatively uncontroversial in what Mr. Binder makes of the financial crisis is the matter of housing price bubble that occurred between 1997 and 2006, followed by the subsequent collapse of the house prices that took place over the next few years.
According to Binder’s view in After the Music Stopped, the major cause of the bubble was due to the many mortgage lenders that lent to too many ...Download file to see next pagesRead More
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