Mar 14, 2017StarGladiator rated this title 2 out of 5 stars
This author, Packer, is completely sure his writing is profound - - he is absolutely confident he knows stuff - - he doesn't!
He unequivocally states // . . . structured credit, default swaps, were good inventions. . . . The problem was the execution. \\
WRONG! [Throughout the book Packer makes various grandiose absolutist statements like this, which are wrong.]
This is a book for clueless people who worship murky and fuzzy thinking. Had the author been . . . say, a real journalist and not simply playing one at The New Yorker, he might have explained exactly how Peter Thiel came by his financing/CIA contracts for Palantir [Thiel sits on the board of American Friends of Bilderberg, Inc., with David Rockefeller, Henry Kissinger, Richard Perle - - Perle introduced Thiel to Adm. Poindexter, who pointed those contracts his way].
And Robert Rubin - - yes, Packer tells us that Rubin got into both Harvard, and Goldman Sachs, thanks to his daddy's connections [which precludes any meritocracy, which Packer appears to believe we exist in], but neglects to mention that Rubin was a chairman, or director at Citigroup when they did all those // liquidity puts \\ - - money-back guarantees on all those trash CDOs they wrote - - which was why the gov't had to give them billions of free money, or Citi would no longer exist, which they shouldn't anyway!
[The author does correctly state that Obama was clueless and does an accurate job of reporting political theater - - but what intelligent person cares about political theater???]
FYI: On p. 291, bottom paragraph, what the author is referring to are called // dark pools \\.
Packer's book: cotton candy for brain!