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304 pages, Paperback
First published January 1, 2010






Now and again Sabrina employed this sort of presumption, a compensatory fantasy, he imagined, for the inherent powerlessness of a person with an advanced degree in short fiction. It was as though she’d bargained on receiving a certain cultural cachet that had yet to materialize and in the meantime needed a bridge loan of prestige paid out in the quasi-glamour of international travel.
"Truth lay in the aggregate numbers, not in the images of citizens the media alighted upon for a minute or two and then quickly left behind. Currency devaluations created more misery than any corporate criminal ever would. What the populist critics rarely bothered to countenance was the shape of things in the wake of real, systemic collapse."The last time he bailed out a big bank the chairman of the Fed had publicly distanced himself suggesting the market ought to have been left to settle the matter.
“A bloodbath. They’ve got business in a hundred countries. Counterparties up and down the food chain. They’re ten percent of the municipal bond market. They’ve got more credit cards than Chase. And they’re overweighted in mortgage securities. They’re the definition of systemic risk. And we’re barely out of a recession. It’d be mal-practice to let them fail. You know it as well as I do.”From the above quotes that I've lifted from the book you might get the impression that the book spends a lot of time addressing the moral dilemmas faced in deciding what to do with a failed financial institution. Unfortunately, the book spends most of its time following the private life conflicts and problems of the fictional characters, and the banking crisis is mostly background activity. I was hoping for more emphasis on the inner workings of banking regulators.
Still wondering how this got the Lambda, because the LGBT-part is just so minor.