EAN: 9780141986241

SABOTAGE - ANASTASIA NESVETAILOVA RONEN PALAN K...

'If you're a progressive  in Britain or elsewhere  and if you think the movement needs fresh
ideas  read this book  it's full of them. Then get to work' The Guardian'It ought to be
required reading for every civil servant  regulator and politician in the UK and elsewhere'
Literary ReviewFinancial malpractice  we're told  is an aberration: the actions of a few bad
apples deviating from the norms of a market-governed process and gaming the system. In Sabotage
political scientists Anastasia Nesvetailova and Ronen Palan blow this fiction apart  showing
that sabotage is not an anomaly  but part of the business model of finance - and always has
been.Abusive lending practices  misleading investors  manipulating prices  deliberately
falsifying figures  cheating  obstruction and taking advantage of 'the dumbest person in the
room' - they're actually the main source of profitability in finance  and the surest way to a
bonus. If you want to make money in the industry  you need to find ways of sabotaging either
your clients  your competitors or the government (or all three)  and above all  the market
itself. Talking to industry insiders  economists and high net worth customers  examining the
history of finance and its workings today  the authors show us how the idea of sabotage not
only makes sense of all past economic crises  but must also be at the heart of all future
regulations.

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