The Financial Crisis and the Free Market Cure

Why Pure Capitalism Is the World Economy’s Only Hope

By: John Allison

Narrated by: Alan Sklar

Did Wall Street cause the mess we are in? Should Washington place stronger regulations on the financial industry? Can we lower unemployment rates by controlling the free market? Answer: no. Not only is free-market capitalism good for the economy, it is our only hope for recovery. As the nation’s longest-serving CEO of one of the top 25 financial institutions, John Allison has had a unique inside view of the events leading up to the financial crisis. He has seen what the government has done to the real estate market and how government regulations only make matters worse. Now in this controversial wake-up call of a book, he has given us a solution.

With shrewd insight, alarming insider details, and practical advice for today’s leaders, this electrifying analysis is nothing less than a call to arms for a nation on the brink. In the end, you’ll understand why it’s so important to put the “free” back into free market.

About the author: John Allison is the former chairman and CEO of Branch Banking & Trust Corporation. He currently serves as a distinguished professor at the Wake Forest University School of Business. He is an inductee of the North Carolina Business Hall of Fame.

©2012 John Allison (P)2012 Blackstone Audio, Inc.

What happened that did not make the public relm

I waited a while before reviewing this book. Time often improves perspective. I would say that this is an essential read fro anyone wishing to understand the financial crisis on more than a rudimentary level.

The view of the financial crisis from someone who survived it (very well thank you) John's insight into what caused it and what exacerbated it are probably more first hand than anything else you will read. It makes it very clear that there was plenty of blame to go around both for the regulators (who helped cause the problem) and the banks themselves (whose actions were often unethical). This is a front line report you will learn a lot you probably have not read elsewhere.

Finally the last part of the book contains probably the best discussion of "Business Ethics" that I have read. As someone who had taught the subject at the college level, and as as such has reviewed the standard course material available, John's discussion of ethics is outstanding and should be required reading for any business major. If I were still teaching I would use it as the definitive text on the subject.

The financial crisis and the free market cure

In this book, John Allison the former BB&T CEO explains the reasons for the financial crisis of 2007-2008: Government intervention and support for Cronies such as Fannie Mae and Freddy Mac. He provides hid perspective a responsible bank CEO that saw all the distortions the government created to support fancy political goals of expanding home ownership. Every government action is usually a scheme to buy the votes of some sector of the electorate and this book provides some history into that. He goes over several aspects of the financial system and explains the history of government intervention and the bad incentives it added to the system.

He also explains the cure of true free market where everyone is left to pursue his goals as long as he doesn't use coercion against other. Mr. Allison demonstrates how a combination of pragmatism and misguided altruism drove us away from the principles that this country was built on such as liberty and limited government towards statism and redistribution. He correctly advocates for the return to these founding principles through education.

Fantastic Insider Perspective

Really great book. Fresh information and perspective on the financial crisis. Good solid solutions. Great narration.

Very insightful book and nice performance

The illustrator’s voice is very easy to understand and also telling the story in a pleasant way. The author has pointed out both facts and logics in a reasonable way.

Informative & powerful vindication for Capitalism

Would you recommend this audiobook to a friend? If so, why?

Yes. Allison does a good job clearly explaining the pro & cons of two economic ideologies (Socialism and Capitalism) providing the reader with an understanding or education to see the political and social events playing out in our nation