13 Bankers

The Wall Street Takeover and the Next Financial Meltdown

By: Simon Johnson, James Kwak

Narrated by: Erik Synnestvedt

Even after the ruinous financial crisis of 2008, America is still beset by the depredations of an oligarchy that is now bigger, more profitable, and more resistant to regulation than ever. Anchored by six megabanks, which together control assets amounting to more than 60 percent of the country's gross domestic product, these financial institutions (now more emphatically "too big to fail") continue to hold the global economy hostage, threatening yet another financial meltdown with their excessive risk-taking and toxic "business as usual" practices. How did this come to be - and what is to be done?

These are the central concerns of 13 Bankers, a brilliant, historically informed account of our troubled political economy. Prominent economist Simon Johnson and James Kwak give a wide-ranging, meticulous, and bracing account of recent U.S. financial history within the context of previous showdowns between American democracy and Big Finance. They convincingly show why our future is imperiled by the ideology of finance (finance is good, unregulated finance is better, unfettered finance run amok is best) and by Wall Street's political control of government policy pertaining to it.

The choice that America faces is stark: whether Washington will accede to the vested interests of an unbridled financial sector that runs up profits in good years and dumps its losses on taxpayers in lean years, or reform through stringent regulation the banking system as first and foremost an engine of economic growth. To restore health and balance to our economy, Johnson and Kwak make a radical yet feasible and focused proposal: reconfigure the megabanks to be "small enough to fail".

©2010 Simon Johnson and James Kwak (P)2010 Tantor

Critic reviews

“Johnson and Kwak not only tell us in great detail how the crisis happened...but they see the deeper political and cultural context that permitted carelessness and excess nearly to break the financial system.” (Bill Bradley, former U.S. senator)

“If the wads of money you’re stuffed into your mattress for safekeeping don’t keep you up at night, 13 Bankers will. A disturbing and painstakingly researched account of how the banks wrenched control of government and society out of our hands – and what we can do to seize it back.” (Bill Moyers)

"Our future depends on fixing our financial system; 13 Bankers shows us how.” (Arianna Huffington)

A must read, but consider Kindle or print version

Everyone should read this book, but the narrator's strange way of speaking made this an agonizing listen for me. It gets worse toward the end. Be sure to check out the sample before buying.

Great book; annoying narrator

This book is a wonderful primer to the financial mess that is Wall Street today. It's well-researched, clear, and compelling. Given that, it's unfortunate that the narrator has such an obnoxious sentence cadence. On balance, it's not an argument for not buying the book; it's just annoying.

Horrible narrator!!

What made the experience of listening to 13 Bankers the most enjoyable?

the content is great but the narrator sounded like a sorority cheer leader...hence distracting the content

What other book might you compare 13 Bankers to and why?

The Ascent of Finance by Niall Feurgerson. its a better book and the narrator is great

How could the performance have been better?

get a better narrator

Was there a moment in the book that particularly moved you?

no

Important book...horribly narrated

This is a valuable contribution to understanding the meltdown of the financial sector and the challenges in putting it right again (including getting regulation right...which Congress seems incapable of handling).

HOWEVER, the narrator is unquestionably THE WORST I have ever encountered in over 300 books (and there have been a number of poor narrators). Synnestvedt's narration sounds like he is, in turns pleased, relieved and proud to reach the end of EVERY sentence. The narration becomes so annoying, even painful, to listen to that the underlying content is diminished.

Insightful investment

Very well written book. Insightful story line, TBTF, absolutely, it may not be so hard to stay on top and the absolute power amassed will awaken or reinforce just how much influence lies above.