Dumb Money reviewed in
The NY Times
Daniel Gross, Newsweek's lead business columnist, top national economics
correspondent, contributor to CNBC and MSNBC, and a frequent flier on
the New York-D.C. shuttle, knows this terrain well. He has the ability
to frame and present complex issues to a range of audiences, and
understands the political, economic, business and social implications of
the rapidly evolving relationship between government and the private
sector.
“Dan's presentation to Women's World Banking’s 7th annual Microfinance and the Capital Markets Conference at J.P. Morgan made the complexities of the current global financial crisis clearly understandable to our international audience of leading investors, bankers, and microfinance practitioners, alike. He made a sober subject enjoyable, even hilarious at times. Dan is an extraordinary speaker.”
~ Mary Ellen Iskenderian, President & CEO, Women's World Banking
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Dumb Money: How Our Greatest Financial Minds Bankrupted the Nation
Call it the credit crunch of 2008, the first panic of the 21st century, or
the Great Crash 2.0. In his new book, Dumb Money,
Newsweek columnist Daniel Gross explains how and why the financial sector
was brought to its knees. Subprime, he argues, wasn't a cause. It was a
symptom of stupid lending virus that was rampant in the U.S., and,
ultimately, in the world. Gross describes how macroeconomic conditions
forged by powerful megatrends, America's propensity to blow bubbles, and the culture of Wall Street combined to create the conditions for a perfect
credit storm.
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