On 13 September 2007, Robert Peston broke the news that Northern Rock had become a victim of the global credit crunch and was seeking an emergency loan from the Bank of England. It was the latest in a long line of scoops by this award-winning journalist. Over the weeks that followed, the Government found itself exposed to the Rock to the tune of £57 billion, or almost £2,000 for every taxpayer.
As Robert Peston shows in his fascinating new book, the seeds for the collapse of Northern Rock and the upheavals in the financial markets were sown years before.
©2008 Robert Peston (P)2010 BBC Audiobooks Ltd
'A compelling portrait of early 21st century casino capitalism....essential reading.' (The Times, London)
I can't really say how much I enjoyed this book. I found it really entertaining, so much so I listened to it twice in 1 week. I especially enjoyed the piece about Stuart Rose and Phillip Green. It brings real colour to world of business. I found the way Peston wrote this book really easy to understand and follow, the narration is absolutely fantastic.
It is remarkable to found out how intertwined the world of big business actually is. I would recommend this book to anyone who would like to find out more about business in the UK. I enjoyed this audio book so much I bought the soft cover too :-)
Peston, the author, knows his stuff and Thorp, the narrator, delivers it in harsh, snappy diction (sounding like the archetypal 90s, "loadsamoney" spiv?). Great entertainment, even if you can't hold all the bewildering information together, but if you can, then you are treated to a first rate education on the reasons why money span out of control and we were all mesmerised by the invincibility of clever schemes. Have we learned the lessons? It is very difficult to do so if you don't understand what happened in the first place. Even on second listening it is hard to grasp all the implications, but I think the best advice from Peston would be, " Keep your eyes wide open for naked emperors and if you are still unsure if you see one, then ask a child"
A very good listen which gave me an insight into the 'World of Wealth'. The narration was excellent and added to the impact of this book. So who's to blame for the economic mess, you'll need to listen to find out.
A must read for anyone interested in the workings of the City, the failings of government leading to the current economic problems, and how the new super-rich have built fortunes Midas could only dream of
I am only half way though this but am enjoying every minute. Good information on private equity firms and how they make their money. Lot of time talking about Philip Green and Stuart Rose, but very entertaining.
Still waiting to see who runs Britain!
I was hoping for an insight into economic theory and perhaps some explanations of what part the UK played in the global financial crisis. The book started as a moan about the Thatcher's government, then highlighted that perhaps it was not such a bad government, went on to complain about tax evasion and then started against the Conservative government, before I had to stop listening. Don't think I got much past chapter 2.
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