Why Wall Street Matters

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Why Wall Street Matters

A timely, counterintuitive defense of Wall Street and the big banks as the invisibleâ€”albeit flawedâ€”engines that power our ideas, and should be made to work better for all of us

Maybe you think the banks should be broken up and the bankers should be held accountable for the financial crisis in 2008. Maybe you hate the greed of Wall Street but know that itâ€™s important to the proper functioning of the world economy. Maybe you donâ€™t really understand Wall Street, and phrases such as â€œcredit default swapâ€ make your eyes glaze over. Maybe you are utterly confused by the fact that after attacking Wall Street mercilessly during his campaign, Donald Trump has surrounded himself with Wall Street veterans. But if you like your smart phone or your widescreen TV, your car or your morning bacon, your pension or your 401(k), thenâ€”whether you know it or notâ€”you are a fan of Wall Street.

William D. Cohan is no knee-jerk advocate for Wall Street and the big banks. Heâ€™s one of Americaâ€™s most respected financial journalists and the progressive bestselling author of House of Cards. He has long been critical of the bad behavior that plagued much of Wall Street in the years leading up to the 2008 financial crisis, and because he spent seventeen years as an investment banker on Wall Street, he is an expert on its inner workings as well.

But in recent years heâ€™s become alarmed by the cheap shots and ceaseless vitriol directed at Wall Streetâ€™s bankers, traders, and executivesâ€”the people whose job it is to provide capital to those who need it, the grease that keeps our economy humming. In this brisk, no-nonsense narrative, Cohan reminds us of the good these institutions doâ€”and the dire consequences for us all if the essential role they play in making our lives better is carelessly curtailed.

Praise for William D. Cohan

â€œCohan writes with an insiderâ€™s knowledge of the workings of Wall Street, a reporterâ€™s investigative instincts and a natural storytellerâ€™s narrative command.â€â€”The New York Times

â€œ[Cohan is] one of our most able financial journalists.â€â€”Los Angeles Times

â€œA former Wall Street man and a talented writer, [Cohan] has the rare gift not only of understanding the fiendishly complicated goings-on, but also of being able to explain them in terms the lay reader can grasp.â€â€”The Observer (London)

Country	USA
Author	William D. Cohan
Binding	Kindle Edition
EISBN	9780399590702
Format	Kindle eBook
Label	Random House
Manufacturer	Random House
NumberOfPages	193
PublicationDate	2017-02-28
Publisher	Random House
ReleaseDate	2017-02-28
Studio	Random House

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