Book Club – Panic (Review and Discussion)

“If you’re going to panic, panic constructively.” -Anonymous

I’ve learned two things from this book. 1) No one ever fucking learns from their mistakes. and 2) The people who control most of the wealth in this country are just as idiotic, brainless, and lacking in critical thinking skills as Sarah Palin fans.

I would like to believe that every stock trader and every financial analyst and every CEO is smarter than I am. (As well as every politician, Congressman, Senator, President, Cabinet member, General, and goddamn student body president.) And apparently, they aren’t.
I love the article called A Wall Street Trader Draws Some Sub Prime Lessons (pg. 350) as dooshy as it was written. Of course, I love Larry Summers too. As a rule, I love people who say really smart, really offensive things. I also agree with the other review that How The Egg Heads Crack (pg. 124). It’s a really great look at the academics in finance rather than the “movers and shakers.”
I agree that this can be a dense, tough book to understand and digest. However, I think everyone should be able to read this and, even if it’s a shallow understanding, know what is being discussed. I think we’d have fewer crashes and few collapses and better regulation if that was the case.

Other reviews are herehere, and here.

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