Daily Archives: January 27, 2024

Book Bits: 27 January 2024

Busting the Bankers’ Club: Finance for the Rest of Us
Gerald Epstein
Review via Kirkus Reviews
An economics professor catalogs the countless ways in which the financial system fails ordinary consumers while favoring the wealthy.
“Finance,” writes Epstein, “is an essential and highly productive part of our economic system; but the financial system can also be a source of stagnation, instability, inequality, and crisis.” The essential inequities in the system have been laid bare at several points, but especially in the financial crisis of 2007-2008, when many corporations and financial institutions walked away unscathed at a cost to taxpayers of $50,000 to $120,000 per household—and not the mega-wealthy households, you can be sure.

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