The Gods That Failed
How the Financial Elite Have Gambled Away Our Futures
THE FIRST BOOK TO TELL THE TRUE STORY BEHIND THE CREDIT CRUNCH
You have been had.
MARKETS ARE NOT MAGIC.
DEBT IS NOT FREEDOM.
THE GODS HAVE FAILED.
A risk-prone, privatised profit-driven economic model overseen by a largely unaccountable, greedy and arrogant elite has resulted in one of the worst financial crises in history.
The over-paid heroes of Wall Street and the City worshipped the gods of globalisation, financialisation and speculation, and during the years of economic growth we, and our governments, worshipped them too. But high in the boardrooms of Mount Olympus, the reckless lust of banks for big bonuses and bigger profits led to excesses that have proved unsupportable.
The warning signs were ignored - now the Masters of the Universe are toppling and we're footing the bill.
Find out how an unregulated elite were able to run riot with your cash, and find out how to stop it happening again.
Praise for The Gods That Failed
Agree, or disagree, you should read this book... As the crunch intensifies these critics are out in force - and the most influential of their books will undoubtedly turn out to be this readable yet controversial tomeCity A.M.
Well written and wittyDaily Telegraph
Has withstood the test of time, despite being published before the events of this autumn - largely because the authors took such a pessimistic, not to mention dim, view of global finance in the first place...a rollicking, acerbic account of the bubble and its collapseDaily Telegraph
A superbly timed, trenchant analysis of the Anglo-American political culture that has turned the sober profession of banking into a supercasino where the house always winsMisha Glenny, New Statesman
The arrogance of the view that the boom and bust cycle had been abolished, and the inevitability of the bust are vividly brought out in The Gods That FailedObserver
Larry Elliott and Dan Atkinson make a formidable team...Deploying a snappy style that keeps the reader's attention through complicated subject matter, they make their case with ease... this is still one of the sharper anti-market critiques available.Metro
The conviction that the market will take care of everything until went unchallenged till this summer - by the seemingly unlikely combination of two economics editors from the Guardian and the Mail on SundayKatherine Whitehorn
In tragic-comic detail, they show how debacles like Northern Rock and banks lending non-existent money to customers has led to disaster for millions of ordinary people, one perpetrated by an unaccountable financial elite whom they dub The New OlympiansArena
A riveting and frankly alarming account of the state of the economy... I doubt I will read a more important book this yearMail on Sunday