Why Wall Street Matters

Why Wall Street Matters by William D. Cohan, published by Penguin Books in 2018, explores the critical role that Wall Street plays in everyday life. This 192-page book delves into the complexities of the financial sector, drawing on Cohan’s experience as a former banker and his observations of the industry’s behavior leading up to the 2008 financial crisis. The author addresses the often negative perceptions of bankers and traders, emphasizing the importance of their contributions to the economy and the potential repercussions of undermining these institutions.
Readers will find a thorough examination of various aspects of business and economics, including corporate finance and investments. Cohan argues that the advancements in technology and consumer goods, such as smartphones and cars, are intrinsically linked to the financial mechanisms that Wall Street provides. This edition serves as a reminder of the interconnectedness of finance and daily life, urging a reconsideration of the narrative surrounding the banking sector and its influence on society.
Official synopsis Publisher
If you like your smartphone or your widescreen TV, your car or your pension, then, whether you know it or not, you are a fan of Wall Street.
William D. Cohan, bestselling author of House of Cards, has long been critical of the bad behaviour that plagued much of Wall Street in the years leading up to the 2008 financial crisis, and, as an ex-banker, he is an expert on its inner workings as well. But in recent years he has become alarmed by the vitriol directed at the bankers, traders and executives who keep the wheels of our economy turning. Why Wall Street Matters is a timely and trenchant reminder of the dire consequences for us all if the essential role these institutions play in making our lives better is carelessly curtailed.
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