Panic: The Story of Modern Financial Insanity

Bad times can clarify things. Take today’s economic crisis. So far, it’s put millions
of people into unemployment lines, forced almost as many out of their homes, and,
before all is said and done, might leave several destabilised nations in its wake. But it’s
also underscored a truth that was widely unacknowledged beforehand: for at least
the past two decades, the centre of global power has resided not in Washington or
with any government, but in the corporate boardrooms of Wall Street (as well as its
hip, slick cousin, Silicon Valley). The truly momentous decisions, with immediate
consequences affecting countless people, have largely been made in the private
sector. Government, meanwhile, has endured as mostly a passerby, occasionally a
first responder.

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