RecessionWire

  • About
  • Ads
  • Contributors
  • Press
  • Contact


Spending and Saving

The Book Reporter: Dumb Money

By Lynn Parramore ⋅ 12:21 pm April 24, 2009 ⋅ Post a comment

dumb money 150To read Dan Gross’s Dumb Money is step into a parallel universe populated with swaggering fast-talkers who breathe helium to swell their egos and speak a strange language filled with exotic financial terms – fixed-income products, adjustable-rate mortgages, and mortgage backed securities. At first, these people seem wonderfully smart. But as Gross sees it, their brains are actually steeped in a noxious brew of groupthink, hubris, and plain old stupidity. In his new book Dumb Money, Gross asks a few pressing questions: how did the ownership society turn into a bailout nation? How did an era of cheap money transform into a time of dumb and dumber money? Gross, a senior editor at Newsweek and “Moneybox” columnist on Slate.com,  provides a roller-coaster chronicle of the past decade’s money culture, looking at how the virus of debt spread from sub-prime hustlers to Wall Street to Hollywood, and finally, to Main Street. His book serves as a sharp critique of the people who should have known better and didn’t. It’s also warning to all of us to pay more attention to what’s happening on Planet Bubble before the next cycle.

Related Posts:

  • Is America Throwing in the Towel?
  • Lamest Business Excuse of the Year
  • Recession Teaches Americans How to Use Credit (Finally)
  • Recession Briefing 2.24
  • The Warp Speed Recession
  • Powered by Contextual Related Posts
If you enjoyed this story, print or share it!
  • email
  • Print
  • Twitter
  • Facebook
  • Google Bookmarks
  • LinkedIn
  • Digg
  • del.icio.us
  • Yahoo! Buzz
  • Mixx
  • Reddit
  • Technorati
  • Tumblr
  • MySpace
  • StumbleUpon
  • Fark
Print This PostTags: cheap money, Dan Gross, hubris, Wall Street

Discussion

No comments for “The Book Reporter: Dumb Money”

Post a comment

 

Get Recessionwire by email!
twitter

Most Popular Posts

  • The Recession Will End... by 2010
  • 10 Tips for Learning to Cook from Scratch
  • Tax Tips for the Unemployed
  • 11 Easy Steps to Relocating
  • Screwed: 2,500 at Xerox
  • Screwed: 1,500 at Macy's
  • The 5 Questions You Should Ask an Interviewer
  • The US and China--Who's Screwing Who? (Video)
  • The Starbucks Guide to Job Status
  • What I Learned About Jobs in 2009

Special Sections

Recent Posts

  • Recession Briefing: Is This Really Better than the 70s?
  • The Hard Truth about Fat-Cat CEO’s
  • Screwed: 800 in the London Underground
  • Downturnaround Deals: The Knot, BikeBandit, Ann Taylor, Gap, Abe’s of Maine
  • Recession Briefing: Foreclosures Slowing
  • Screwed: 1,019 in Long Beach Unified School District
  • Recession Lessons from the Jersey Shore
  • Recession Briefing: Hiring Finally Happening
  • Screwed: 2,000 at Chevron
  • Gen Next Will Rock the New Normal?

We’re Talking About…

Wowzio
grab this · careers blog
  • About
  • Advertising
  • Contact
  • Contributors
  • Press

  • Culture
  • Living
  • Money
  • News
  • Small Business
  • Working
© 2009 Recessionwire. Entries (RSS)