The Last Tycoons: The Secret History of Lazard Frères & Co.

Book Description

A grand and revelatory portrait of Wall Street’s most storied investment bank

Wall Street investment banks move trillions of dollars a year, make billions in fees, pay their executives in the tens of millions of dollars. But even among the most powerful firms, Lazard Frères & Co. stood apart. Discretion, secrecy, and subtle strategy were its weapons of choice. For more than a century, the mystique and reputation of the "Great Men" who worked there allowed the firm to garner unimaginable profits, social cachet, and outsized influence in the halls of power. But in the mid-1980s, their titanic egos started getting in the way, and the Great Men of Lazard jeopardized all they had built.

William D. Cohan, himself a former high-level Wall Street banker, takes the reader into the mysterious and secretive world of Lazard and presents a compelling portrait of Wall Street through the tumultuous history of this exalted and fascinating company. Cohan deconstructs the explosive feuds between Felix Rohatyn and Steve Rattner, superstar investment bankers and pillars of New York society, and between the man who controlled Lazard, the inscrutable French billionaire Michel David-Weill, and his chosen successor, Bruce Wasserstein.

Cohan follows Felix, the consummate adviser, as he reshapes corporate America in the 1970s and 1980s, saves New York City from bankruptcy, and positions himself in New York society and in Washington. Felix’s dreams are dashed after the arrival of Steve, a formidable and ambitious former newspaper reporter. By the mid-1990s, as Lazard neared its 150th anniversary, Steve and Felix were feuding openly.

The internal strife caused by their arguments could not be solved by the imperious Michel, whose manipulative tendencies served only to exacerbate the trouble within the firm. Increasingly desperate, Michel took the unprecedented step of relinquishing operational control of Lazard to one of the few Great Men still around, Bruce Wasserstein, then fresh from selling his own M&A boutique, for $1.4 billion. Bruce’s take: more than $600 million. But it turned out Great Man Bruce had snookered Great Man Michel when the Frenchman was at his most vulnerable.

The LastTycoons is a tale of vaulting ambitions, whispered advice, worldly mistresses, fabulous art collections, and enormous wealth—a story of high drama in the world of high finance.

Customer Reviews:

Oh, the memories.......2007-07-27

This book brought back so many memories of the time (late eighties/early nineties) and place. Looking back while reading this book, I realize how much I learned about people and industry while working in investment
banking (albeit a bit remotely) in NYC in those years. The level of detail
that Bill Cohan brings to the topic of Lazard is noteworthy. It's a fun
read for insiders and non-insiders alike. I hope things are better for
women now - my daughter wants to be an investment banker when she grows up!

A great book for "warped" people (like myself)!.......2007-06-11

660+ pages about the 150+ year history of Lazard Feres might put most people to sleep. Not me! As someone who actually likes this stuff, I found this book fascinating. The history of big money and finance is actually one of big personalties, and this book gives an inside look at several of the major players. Although tedious at times to read, I made it through the entire book in a couple of days. The most fascinating part of the entire story is simply that money at the levels discussed in this book doesn't seem real--most people could never fathom how corporate finance is conducted. I recommend this book to anyone interested in the subject of investment banking, especially those considering a career in that arena.

Long but worth it.......2007-05-30

extremely long, but it gives you a great description of how an organization rises and falls with the times and the great men who are at the wheel.

Destined to be a Classic.......2007-05-24

Cohan has brought to life a vivid and spellbinding tale of the legendary giants in the investment banking field (Meyer, Rohatyn, David-Weill, Rattner, and Wasserstein) at Lazard, offering a compelling and revealing portrait of the relentless personalities that invented, dominated and defined the last few decades of M&A banking. At the same time, The Last Tycoons is, at its core, a saga of ambition, egotism, greed, vanity and pride of Shakespearean proportions played out on the grand stage of corporate takeovers and national politics.

What emerges is not a noble picture of what these ostensibly "Great Men" purported themselves to be. Instead, it is apparent that at Lazard, the black arts of power and greed were the currency used to exhort and extort men of high ambition and intellect to achieve stature and enormous fees. The long shadow of Andre Meyer (unquestionably a Sith Lord) looms over the Lazard partnership and his protégés and successors, Felix Rohatyn and Michel David-Weill. Meyer was a brilliant financier with no peer with the exception of Bruce Wasserstein and it's fitting and deserving that the story of Lazard begins and ends with these two men. In between, Michel and Felix weave a complex and fascinating legacy of fear and loathing in the intervening decades.

For bankers and professionals in the field, Cohan's detail and emotional and psychological nuances will be tantalizing and relevant. For those aspiring to enter the field, it's a cautionary tale - it's very hard to play on the big stage on Wall St without darkening your soul. This story is destined to be a Classic amongst Barbarians and Den of Thieves

barbarians at the gates of central park .......2007-05-19

maybe the first casualty of wealth is self-knowledge. that is the takeaway from William Cohan's fine history of the fabled lazard freres banking house. in these pages we watch titans of finance gloat and preen while their castle crumbles from corruption and mismanagement.

Its a terrific story peopled with fascinating characters. who wouldn't, after reading this book, want to dine with the formidable felix rohatyn. He fled the Nazis as a boy, rescued New York from financial ruin and ditched Lazard at just the right moment to serve the nation as Bill Clinton's Ambassador to France. His intellect and achievement dominate the book, just as Felix dominated wall street for a generation. His departure from the firm caps the end of "the great man" era in investment banking. In Rohatyn's day only a select handful of wise men could be trusted to guide transactions. Nowadays all you need is armani and a spread sheet.

Even as he maps the tectonic movement in investment banking, Cohan keeps it light with plenty of well-researched dish on criminal investigations, love affairs, fabulous art collections, New Yorkana and the occasional drop to earth by some of Lazard's wax-winged partners. I closed the book -- a whopping 750 pp's -- edified and thoroughly entertained.

Banker to the Poor: Micro-Lending and the Battle Against World Poverty

Average customer rating:

Enlightening work
Poverty should be extinct!
Great for those interested in poverty relief/development
Lateral Banking
Eye Opening

Banker to the Poor: Micro-Lending and the Battle Against World Poverty
Muhammad Yunus
Manufacturer: PublicAffairs
ProductGroup: Book
Binding: Paperback

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ASIN: 1586481983
Release Date: 2003-10-14

Amazon.com

It began with a simple $27 loan. After witnessing the cycle of poverty that kept many poor women enslaved to high-interest loan sharks in Bangladesh, Dr. Muhammad Yunus lent money to 42 women so they could purchase bamboo to make and sell stools. In a short time, the women were able to repay the loans while continuing to support themselves and their families. With that initial eye-opening success, the seeds of the Grameen Bank, and the concept of microcredit, were planted.

After earning a Ph.D. in economics at Vanderbilt University, Dr. Yunus returned to Bangladesh to settle into a life as a professor. But a famine in 1974 ravaged the country, leading Dr. Yunus to alter his thinking and his life profoundly: "What good were all my complex theories when people were dying of starvation on the sidewalks and porches across from my lecture hall?.... Nothing in the economic theories I taught reflected the life around me." Armed with little more than a lofty dream to end the suffering around him, he started an experimental microcredit enterprise in 1977; by 1983 the Grameen Bank was officially formed.

The idea behind the Grameen Bank is ingeniously simple: extend credit to poor people and they will help themselves. This concept strikes at the root of poverty by specifically targeting the poorest of the poor, providing small loans (usually less than $300) to those unable to obtain credit from traditional banks. At Grameen, loans are administered to groups of five people, with only two receiving their money up front. As soon as these two make a few regular payments, loans are gradually extended to the rest of the group. In this way, the program builds a sense of community as well as individual self-reliance. Most of the Grameen Bank's loans are to women, and since its inception, there has been an astonishing loan repayment rate of over 98 percent.

Banker to the Poor is an inspiring memoir of the birth of microcredit, written in a conversational tone that makes it both moving and enjoyable to read. The Grameen Bank is now a $2.5 billion banking enterprise in Bangladesh, while the microcredit model has spread to over 50 countries worldwide, from the U.S. to Papua New Guinea, Norway to Nepal. Ever optimistic, Yunus travels the globe spreading the belief that poverty can be eliminated: "...the poor, once economically empowered, are the most determined fighters in the battle to solve the population problem; end illiteracy; and live healthier, better lives. When policy makers finally realize that the poor are their partners, rather than bystanders or enemies, we will progress much faster that we do today." Dr. Yunus's efforts prove that hope is a global currency. --Shawn Carkonen

Book Description

This autobiography of the world-renowned, visionary economist who came up with a simple but revolutionary solution to end world poverty--micro-credit--has become the classic text for a growing movement.

In 1983 Muhammad Yunus established Grameen, a bank devoted to providing the poorest of Bangladesh with miniscule loans. He aimed to help the poor by supporting the spark of personal initiative and enterprise by which they could lift themselves out of poverty forever. It was an idea born on a day in 1976 when he loaned $27 from his own pocket to forty-two people living in a tiny village. They were stool makers who only needed enough credit to purchase the raw materials for their trade. Yunus's loan helped them break the cycle of poverty and changed their lives forever. His solution to world poverty, founded on the belief that credit is a fundamental human right, is brilliantly simple: loan poor people money on terms that are suitable to them, teach them a few sound financial principles, and they will help themselves.

Yunus's theories work. Grameen Bank has provided 3.8 billion dollars to 2.4 million families in rural Bangladesh. Today, more than 250 institutions in nearly 100 countries operate micro-credit programs based on the Grameen methodology, placing Grameen at the forefront of a burgeoning world movement toward eradicating poverty through micro-lending.

Customer Reviews:

Enlightening work.......2007-08-12

Muhammad Yunus believed that every human being had a basic right to credit. He believed in the human spirit and peoples' hard work and honesty when given a chance to sustain themselves above poverty. His accomplishments have proven his theory over and over in several countries to millions of people. Micro-lending will surely be a part of the future success in Africa, Asia, and South America. A modified form of Mr. Yunus' model has worked in the USA, unfortunately, we as Americans aren't schooled nor molded to be basic entrepreneurs. We must change our school systems from teaching how to become good employees to how to become entrepreneurs as well. Mr. Yunus' model includes 5 person groups to help each other and support each other when one gets behind in loan repayments and/or family crisis. This is a very important requirement to micro-lending and must not be excluded when trying to duplicate the success of the Grameen Bank.
Thank goodness we have people in our world like Muhammad Yunus to teach us how to treat other human beings.

Poverty should be extinct!.......2007-08-09

This book is a testament to the good one can do to millions of people!

Poverty belongs in museums! One day, thanks to humanitarians like Muhammad Yunus, poverty will be something of the past and totally extinct, and the next generation will wonder how poverty was ever allowed to exist within our midst. Indeed that will be a glorious day!

Professor Yunus recounts his early life living in India, Bangladesh, and then in the United States. He was born in 1940 in British-ruled India. He was one of fourteen children born to devout Muslim parents. His mother was often ill, but despite this, his father never left her. Yunus later obtained a scholarship to study in the States, earned a Ph.D. in economics at Vanderbilt University, and later became a professor. He once commented to his students, "What good were all my complex theories when people were dying of starvation on the sidewalks and porches across from my lecture hall? Nothing in the economic theories I taught reflected the life around me."

As a young man he was very involved in the independence of Bangladesh when hundreds of thousands died, and many more after Bangladesh declared itself independent. The country was devastated, and stripped of its natural resources. Professor Yunus quickly left the US and headed to Bangladesh in order to help create a government, and thus get international help and support.

He was very concerned about the poor, and decided to help them. He was surprised why banks did not lend them money. Also the majority of the poor couldn't write or read, so they couldn't even fill out the forms required by banks in order to obtain a loan.

Grameen Bank (The name means the "bank of the village") was thus started in 1976 as an experimental project to combat rural poverty by providing credit to the very poor. Professor Yunus loaned $27 from his own pocket to forty-two stool makers living in a tiny village. These women only needed enough credit to purchase the raw materials for their trade. Yunus's small loan helped them break the cycle of poverty for good. Throughout the book you'll read of many such success stories.

Professor Yunus faced a lot of obstacles in creating his bank. He was accused by the Muslim clergy (Mullahs) of wanting to destroy Islamic traditions, and of promoting Christian values in Bangladesh. Some of his staff were even threatened. This was due to the fact that the bank encourages women to take loans and work, something of a taboo and highly unacceptable to Muslim women living in Bangladesh. In fact, many women were beaten by their husbands for the mere mention of money, let alone taking a loan. Women were also not encouraged to receive an education or work. Professor Yunus says, "All her life she has been told that she is no good, that she brings only misery to her family, and that they cannot afford to pay her dowry. Many times she hears her mother or her father tell her she should have been killed at birth, aborted, or starved. But today, for the first time in her life, an institution has trusted her with a great sum of money. She promises that she will never let down the institution or herself. She will struggle to make sure that every penny is paid back (65)."

In 1983 Grameen Bank (GB) was officially established. It is unique in that it has reversed conventional banking practices by removing the need for collateral and created a banking system based on mutual trust. It promotes credit as a human right. Its mission is to help the poor families to help themselves to overcome poverty by issuing them with microcredits (very small amounts, like $7, something a conventional bank would never do). It is offered for creating self-employment for income-generating activities and housing, as opposed to consumption. It is particularly targeted towards poor women. It provides service at the door-step of the poor based on the principle that the people should not go to the bank; the bank should go to the people. This principal is helpful in a Muslim society where women are not allowed to leave their homes without the approval of their husband, and are not allowed to speak with men.

In order to obtain loans a borrower must join a group of borrowers, with each borrower recommending another. If one member of the group defaults on payment of his loan, then the whole group is denied further loans! However, to encourage destitute members to join, he/she does not have to belong to a group, no saving is necessary, no weekly repayment is necessary, his/her loan terms are decided by him/her, in consultation with his/her mentor.

A member is considered to have moved out of poverty if her family fulfills the following criteria:

1. The family lives in a house worth at least Tk. 25,000 (twenty five thousand) or a house with a tin roof, and each member of the family is able to sleep on bed instead of on the floor.
2. Family members drink pure water.
3. All children in the family over six years of age go to school or have finished primary school.
4. Minimum weekly loan installment of the borrower is Tk. 200 or more.
5. Family uses sanitary latrine.
6. Family has adequate clothing for everyday use and for winter, and mosquito-nets.
7. Family has sources of additional income, such as a vegetable garden, so that they are able to fall back on these sources of income when they need additional money.
8. The borrower maintains an average annual balance of Tk. 5,000 in his/her savings accounts.
9. Family has three square meals a day throughout the year. No member of the family goes hungry any time of the year.
10. If any member of the family falls ill, family can afford to take all necessary steps to seek adequate healthcare.

Professor Yunus distrusted dealing with the World Bank. According to professor Yunus, the world bank, with its headquarters away from Bangladesh, does not see poverty, but relies on theories. He also was wary of how they took full control of a country's financial needs.

There were a number of major natural disasters in Bangladesh. The 1998 flood was the worst of all. Half of the country was under flood-water for ten long weeks. Grameen borrowers lost most of their possessions including their houses because of the flood. Soon borrowers started to feel the burden of accumulated loans. They found the new installment sizes exceeded their capacity to repay. Grameen Bank repayment started to show quick decline. This was a good opportunity to design a new Grameen methodology, incorporating all the lessons learnt. As a result, Grameen Bank II was created.

The bank believes that the poor always pay back their loans, unlike the very rich. On some occasions they may take longer time to pay back than it was originally stipulated. Many things can go wrong for a poor person during the loan period. According to professor Yunus, since the borrower is paying additional interest for the extra time, where is the problem?

Grameen Bank has introduced higher education loans for all students who can enter into the higher educational institutions (medical, engineering, etc). Students are made responsible to repay the loans when they start earning. Half the scholarships are reserved for girl students. The remaining 50 per cent is open for both boys and girls. Each year Grameen Bank gives out 3,704 scholarships.

Grameen believes that poverty is not created by the poor; it is created by the institutions and policies which surround them. In order to eliminate poverty, all we need to do is to make appropriate changes in the institutions and policies, and/or create new ones.

Muhammad Yunus and his Grameen Bank of Bangladesh won the 2006 Nobel Peace Prize.

As of May, 2007, Grameen Bank had 7.21 million borrowers, 97 percent of whom are women. With 2431 branches, it provides services in 78,659 villages, covering more than 94 percent of the total villages in Bangladesh.

About 3 billion people live on less than $1 per day. Professor Yunus' vision is of eliminating poverty by 2050.

This is really a fascinating book and I highly recommend it.

Great for those interested in poverty relief/development.......2007-08-07

After reading, we bought multiple copies to give away to colleagues working in various capacities in poor areas of the world. Yunus' ideas and experience need to be examined and considered. This is no World Bank/UN/WMF big program aid-dump, but a reasonable, realistic, measured path from poverty to empowerment for the world's poor.

Lateral Banking.......2007-07-03

Learn how limiting entrenched Eurocentric thinking can be. Be inspired by the lateral thinking of Muhammad Yunus! A heartwarming read with just a touch too much description of the complexities of beaurocracy, but a must read nevertheless.

Eye Opening.......2007-06-27

I'm very impressed with Mohammad Yunus. He created an entire network of microlending without ever selling out his dreams or ideas to the larger banks or even the World Bank. I found his passion to help the extreme poor to be inspiring. I have a new found understanding and respect of Bangladesh and its' people through his eyes. He is most deserving of the Novel Peace Prize.

Financial Markets and Institutions (5th Edition) (Addison-Wesley Series in Finance)

Average customer rating:

Not what I thought
Financial Markets and Institutions-Cram Text
Very good for first exposure to financial markets
Good start
This book insults the intelligence of all but newcomers

Financial Markets and Institutions (5th Edition) (Addison-Wesley Series in Finance)
Frederic S. Mishkin , and Stanley G. Eakins
Manufacturer: Addison Wesley
ProductGroup: Book
Binding: Hardcover

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ASIN: 0321280296

Customer Reviews:

Not what I thought.......2007-08-26

This book was a lot less than expected. It is basically a book of definitions. It does not offer notes from the book which is what I thought I was getting.

Financial Markets and Institutions-Cram Text.......2007-02-16

Don't get it. It is useless. Elementary style study pack.

Very good for first exposure to financial markets.......2003-12-10

This book is not an advanced book on financial markets, but it is a good introductory book. I use this book for my undergraduate teaching. Both I and students are happy about the coverage of the book. It is well organized and well written. Improvements will be valuable in the derivatives markets and risk management areas.

Good start.......2003-12-04

I've used some version of this book for many years now, and I've seen it evolve. I think, as other reviewers have said, that there are some simplified portions of the book, especially those parts dealing with monetary economics. There are other portions which lay out the principles as only these authors can, and those parts are extremely helpful and valuable. This book allows me to teach my notes and thoughts with a textbook serving as a reference and an introduction -- it doesn't get in my way, in other words. I use it along with several other texts, and I think it gets the job done. Students seem to like it as well, mainly for its clarity. For someone wanting to learn the basics, this is an excellent choice.

This book insults the intelligence of all but newcomers.......2002-11-08

Although this might be a perfect book for those looking for simplicity, I would not advise it to anybody with previous exposure to finance.
The book is a way too simple, and reveals huge ignorance on the markets outside the US.
I think the book is very much a benchmark to reveal ignorant finance - teachers.

Average customer rating:

Managing a Consumer Lending Business
Excellent book for beginners
An Excellent Guide for Retail Banking Marketers Entering Lending Business
Good primer for analysts looking for more domain knowledge
Best in its Class

Managing a Consumer Lending Business
David Lawrence , and Arlene Solomon
Manufacturer: Solomon Lawrence Partners
ProductGroup: Book
Binding: Paperback

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ASIN: 0971753709

Book Description

"Managing a Consumer Lending Business" summarizes the lore and the knowledge of the business as the new century begins. It covers many subjects a good manager should know: the importance of how to attract enough good accounts to offset the inevitable bad accounts that every lender will get, controlling line sizes, encouraging use by good customers/discouraging or controlling the bad customers, managing profitability with predictability, if he or she is to effectively run a high-volume consumer business.

Customer Reviews:

Managing a Consumer Lending Business.......2007-07-14

I was looking for a solid foundation of facts and tried practices for retail banking employees could use to attrack new business. This book didn't offer that

Excellent book for beginners.......2006-12-10

To people who are entering the profession of consumer lending, this is an excellent primer. It gives a 360 degree view of the business from acquisition and management of accounts to collections, recoveries and profitability analysis. While it doesn't cover any one topic in great depth, it is an ideal book for people starting off in this exciting business. I wish David Lawrence would write many more books. He has the art of explaining concepts in a clear manner. I really enjoyed this book.

An Excellent Guide for Retail Banking Marketers Entering Lending Business.......2006-10-22

In market place, there are few books that are easy to understand but comprehensive to cover all respective area of consumer lending business. I have to say, this is one of the few. In the past, I acquired the personal lending knowledge from some credit scoring books with difficult math and serious multi-variable statistics. This title is not only easy even for marketing or sales persons to understand the basic concept but also good for new credit analysts or college/graduate students who just joined the business to have a whole concept. Strongly recommend this title to those who are in the marketing or business planning roles in retail lending business. It could help bridge the knowledge gap about the lending business and create some common langague with other functions, especially credit and collection. However, for those in credit function, this title is good for overall understanding but not detailed or comprehensive enough for risk management.

Good primer for analysts looking for more domain knowledge.......2006-09-06

Managing a Consumer Lending Business by David Lawrence and Arlene Solomon is a good primer I recommend for the readers of S4SAS.com and analysts working in the areas of consumer lending in general.

This book covers the fundamental principles of lending along with the practices at various product life cycles. While conducting SAS training, I observed that lot analysts do not know why managers look for some information and why they insist on certain format the information to be presented. After reading this book, the reader will have a background to understand the business requirements better and will be familiar with necessary lending related terminologies.

I found the following topics covered in the book useful for an analyst.

1. Overview to the consumer lending process and products.
2. Acquisition and direct mailing - segmentation, prescreen processes and practices.
3. The use of credit scoring, score monitoring and reporting process.
4. Portfolio Management and utilization of behavioral scores, strategy tracking.
5. Collection strategies and tactics
6. Private label credit cards and retail sales (dealer) financing.
8. Importance of Management Information systems.

Best in its Class.......2004-01-20

Managing a Consumer Lending Business is an excellent primer covering both fundamental practices and principles for safe and sound lending. This book covers the basics well and should be required reading for management trainees and those new to consumer lending. This 2002-published book is superior to older, now-obsolete books on consumer lending, and is spiced with anecdotes, quotes and references to mistakes that made headlines. The chapter on recessions is germaine and usually neglected by other books. The only criticisms are minor: a few too many references to the authors' consulting practice, and it would be improved by a chapter or two on securitization and the gain-on-sale practices.

Average customer rating:

Hot Stuff
Quick read
Easy and fun read
Never disapoints!
Three stars PLUS

Hot Stuff
Janet Evanovich , and Leanne Banks
Manufacturer: St. Martin's Paperbacks
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Binding: Mass Market Paperback

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ASIN: 0312941463
Release Date: 2007-04-03

Book Description

Dear Reader,

If you like hot men, hot action and hot attraction you’re going to love this HOT new series! HOT STUFF introduces Cate Madigan, a Boston native from a large and crazy Irish family. Cate has far too much going on to get involved in extracurricular activities, like men and marriage. She spends all day in school, earning her teaching degree, and all night working as a bartender in Boston’s South End. Ex-cop Kellen McBride has decided to make Cate’s bar his nightly haunt. He likes Cate’s sassy Irish spirit and wild red hair. He also has an ulterior motive for getting close to her. Cate has sworn off all things romantic, but when she comes home to a ransacked apartment, a roommate who has flown the coop, and a sleeping bullmastiff named Beast, Cate has no choice but to ask Kellen for help. Can Kate resist the charming Kellen McBride while keeping herself out of danger? Or will Kellen turn up the heat on Cate and everything in her life?

We know you’ll have a blast with HOT STUFF!

Janet & Leanne

Customer Reviews:

Hot Stuff .......2007-09-02

Cate Madigan is going to school to be a teacher. She works nights in a
bar and keeps her distance from the male customers until Kellen
McBride walks in one night. Kellen is persistent though. His
persistence pays off when Cate actually needs him. Cate is trying to
deter a guy named Pugg who desperately wants to be her boyfriend.
She's also trying to get her family to stop setting her up with the
wrong guys. When her roommate Marty appears to be involved in
something shady and bad guys start knocking on their condo door, Cate
decides that having Kellen around is not a bad thing, especially since
he's an ex cop. The fact that he's really hot isn't a bad thing either!

Hot Stuff is funny, suspenseful and romantic. I loved it! Kellen is
sexy and charming and Cate is a sweetheart. Cate's family and friends
are a blast as well. I read Hot Stuff while relaxing on the beach and
it made a great day that much better!

Nannette
Reviewed for Joyfully Reviewed

Quick read.......2007-08-31

I love reading the books by Janet Evanovich and listening to her books on tape while traveling. Her books are fun and an easy read.....good for the beach.

Easy and fun read.......2007-08-06

To be honest I do not like any of the pre-Plum books (being re-released) or her co-authored books with Charlotte Hughes so I was prepared not to like Hot Stuff. I'm glad I read it. It was a bit cheesy, which is to be expected, and the main theft plot was farfetched...however... I still enjoyed it. It's an easy and fun read. The characters were well rounded and easy to like and they seemed to have great chemistry right off the bat.

Never disapoints!.......2007-08-01

If you enjoy reading one of Janet's books, then you will enjoy them all because they are very similar and very amusing and well written. The characters become your friends.

Three stars PLUS.......2007-07-12

The syle is definitly Evanovice. The charators new and fun. As with most of her books I never put this book down for to long.
Still not one of her best, but a must read if you love Evanovich.

Lean Mean Thirteen (Stephanie Plum Novels)
This is a must read.

The Loan Officer's Practical Guide to Residential Finance

Average customer rating:

Great book, but . . . .
One of the best!
The Loan Officer's Practical Guide to Residential Finance
Great Info...Poor Editing
Good guide, but can be confusing sometimes

The Loan Officer's Practical Guide to Residential Finance
Thomas A. Morgan
Manufacturer: Quick-Start Publications
ProductGroup: Book
Binding: Paperback

General | Business & Investing | Subjects | Books

Banks & Banking | Industries & Professions | Business & Investing | Subjects | Books

General | Real Estate | Business & Investing | Subjects | Books

Investments | Real Estate | Business & Investing | Subjects | Books

Training | Management & Leadership | Business & Investing | Subjects | Books

All Titles | Qualifying Textbooks - Fall 2007 | Stores | Books

Business & Investing | Qualifying Textbooks - Fall 2007 | Stores | Books
Similar Items:

Mortgage Encyclopedia: An Authoritative Guide to Mortgage Programs, Practices, Prices and Pitfalls
The Complete Idiot's Guide to Success as a Mortgage Broker (Complete Idiot's Guide to)
Mortgages 101: Quick Answers to Over 250 Critical Questions About Your Home Loan
So You Want to Be a Mortgage Broker
Jump Start Your Mortgage Career: A Proven Plan For Loan Officers And Mortgage Brokers Who Want To Skyrocket Their Income in 30 Days

ASIN: 0971820503

Book Description

This is the 2007 Edition of the first book in the "Practical Guide" series for the mortgage industry.

Published since 1992, and updated annually, this 198 page textbook was written as an answer to the "sink-or-swim" training methods of many mortgage firms. The format is designed to give the newly initiated loan officer/agent, lender, processor, or other initiate the practical information they need to do the loan officer's job.

The reader learns how to understand rate and point quotes, how to use a financial calculator, how to make basic computations customers require, how to understand loan programs and compare product features. The student progresses through understanding loan specifications - Conventional Conforming, Jumbo, FHA/VA and Sub-Prime program guidelines - to a practical understanding of ratios, income, assets and closing costs, debts and credit history. This is then placed in the context of the loan application - how to collect all the required documents and disclosures and supervise a loan from application to closing. Beyond the basics, students learn how to finance various property types; condos, PUDs, new construction and investment property. A detailed chapter on refinancing addresses the issues which most often confront the loan officer in a period of heavy refinancing - 10 reasons to refinance.

Finally, understanding how loans are made in the secondary market and the basics of interest rate quoting and behavior are covered.

This product is submitted for approval for use in continuing education in all states which have, or are adopting, a requirement. Many companies use this product as a handout to prospective new loan officers. Many loan officers give this product to their referral sources to help educate them to the requirements of the industry.

Customer Reviews:

Great book, but . . . ........2007-05-26

This is a great book and needs to be in your library if you are, or are considering a career in the mortgage industry. But, Mr. Morgan needs to do a better job of describing what is in the tables used as examples. It becomes confusing when looking at a box with numbers in it and little or no quantification of the rows or columns. If this book is truly a "guide to residential finance" then more examples are needed and perhaps some excises with answers, kind of like a text book. Even though this book has been around for several years, a few modifications could make it a well rounded text and an industry standard.

One of the best!.......2007-01-23

If you're new to the mortgage business, then I highly recommend buying this book. It's very detailed and contains all of the practical info that you need to get a start in the mortgage industry.

Other than that, at times it becomes confusing due to a few editing errors.

The Loan Officer's Practical Guide to Residential Finance.......2007-01-05

This is a text book for all loan officers. It is a must read for everyone interested in mortgages. The book is easy to understand and gives all the information in one place. This book will teach you everything you need to know about mortgages. Maximize your knowledge.

Great Info...Poor Editing.......2006-10-24

I agree with many of the previous posters as to the value of the information contained in this book....it is excellent. That being said, the book is evidently updated annually and the author does a VERY poor job of editing from one edition to the next. I believe this to be part of the reason a previous poster found the text to be confusing at times. In addition to typographical errors, there are errors in the page locations of certain topics, and errors with some tables as well.

That being said, I still highly recommend this book. It is not one to be read only, but to be worked through with paper, pencil, and calculator.

Good guide, but can be confusing sometimes.......2005-09-26

This is a good book. It is crammed with lots of information that is specific to the loan industry. It is a comprehensive guide covering most of the aspects of the loan industry. I turn to this guide every now and then to check up on problems and questions that I run into with my loans.

Only problem is that it could be written more clearly. It's difficult to decipher some of the figures and tables because the author doesn't explain them enough beforehand. Also he uses some jargon and other terms that might not be familiar to a new loan officer.

Overall, a good guide with lots of specific, useful information. Drawback is some parts and concepts are not clearly explained. I would still recommend to buy it though as its faults are not overwhelming.

The Blood Books, Vol. 3 (Blood Debt / Blood Bank)

Average customer rating:

If you like Vampires . . .
Awesome
GOOD
Fun book
The Blood books vol III

The Blood Books, Vol. 3 (Blood Debt / Blood Bank)
Tanya Huff
Manufacturer: DAW
ProductGroup: Book
Binding: Paperback

General | Fantasy | Science Fiction & Fantasy | Subjects | Books

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Similar Items:

The Blood Books, Vol. 2 (Blood Lines / Blood Pact)
The Blood Books, Vol. 1 (Blood Price / Blood Trail)
Smoke and Mirrors (The Smoke Trilogy, Book 2)
Smoke and Ashes (The Smoke Trilogy, Book 3)
Blood Bound (Mercy Thompson Series, Book 2)

ASIN: 0756403928

Book Description

The bestselling Blood Debt and all the Vicki and Henry short stories-plus A brand-new one!

Customer Reviews:

If you like Vampires . . ........2007-07-23

You gotta get the Blood Books by Tanya Huff. I got all three volumes and couldn't put them down. Not only is Henry one of best written vamps I've seen in a long time but Vicky "Victory" Nelson is one h*** of a heroine. With Mike Celluci to set off the main characters these are page turners of the highest order. Mystery/detective/romance/supernatural/just plain smart writing, there is something here for everyone. Only wish there were more in the series, (I know, I know, but a girl can dream). Get your hands on these, you won't be sorry.

Awesome.......2007-07-04

These are wonderful books. I cannot put them down! I liked buying them this way so that after I finish one story, I can just turn the page to read the next one. For any fans of vampire and/or detective books, these are the ones for you.

GOOD.......2007-05-22

BLOOD BOOKS VOLUME III READ MUCH THE SAME AS THE OTHER BOOKS I & II.
FAST PACED, INTERESTING CHARACTERS, GOOD PLOT. GOOD FUN TIME READING.

Fun book.......2007-05-15

The Blood books series is way cool Henry Fitzroy, Vicki and Mike the love triangle is funny and throw in Tony and its very fun.

The Blood books vol III.......2007-05-13

With each of Tanya Huff's books her style and story become more intense. I love the interaction of the main characters and the mystery involved in each story. It is fresh to see a strong female character and a not so bloody vampire.
I highly recommend her books for a good read.

Maxed Out: Hard Times, Easy Credit and the Era of Predatory Lenders

Average customer rating:

A fascinating read flawed by an incomplete analysis of root causes and possible solutions
Informative
Interesting but...
Eye opening
Inconsistent and anecdotal

Maxed Out: Hard Times, Easy Credit and the Era of Predatory Lenders
James D. Scurlock
Manufacturer: Scribner
ProductGroup: Book
Binding: Hardcover

Economic Conditions | Economics | Business & Investing | Subjects | Books

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Maxed Out
Credit Card Nation: The Consequences of America's Addiction to Credit
In Debt We Trust
The Two-Income Trap: Why Middle-Class Parents are Going Broke
Strapped: Why America's 20- and 30-Somethings Can't Get Ahead

ASIN: 141653251X

Book Description

Foreclosures are hitting record highs; Americans are declaring bankruptcy at rates ten times that during the great Depression; more college students drop out because of debts than due to poor grades; reports of debtor suicides proliferate in the media. In other words, it's a great time to be in the banking business.

Maxed Out takes us on a road trip that is sometimes hysterical and often horrifying: from Las Vegas to the Bible Belt, from the backwoods to inner cities, where the world's largest financial giants troll for their next victims. Welcome to a country populated by debt pirates, corporate predators, human credit card billboards, debt evangelists, megamillion-dollar spec homes, and, of course, trillions of dollars of easy credit.

Combining startling facts with even more startling examinations of individuals, institutions, the government, and modern religion, James Scurlock separates the myths (there is "good debt" and "bad debt") from the harsh reality (corporations partner with colleges to target today's youth; credit reports are riddled with errors that will never be fixed; and death, for many of those in trouble, is the only way out).

At a time when the financial industry posts ever-higher profits even as its clients drown in the flood of easy credit, Scurlock exposes very real, potentially disastrous systems and policies that are consuming millions of Americans. Maxed Out takes readers on a wickedly smart and entertaining tour of what one interviewee calls "the last taboo."

Customer Reviews:

A fascinating read flawed by an incomplete analysis of root causes and possible solutions.......2007-09-15

I learned about "Maxed Out" as a regular listener of Dave Ramsey (the famous talk radio anti-debt crusader hailing from Nashville, TN). Scurlock asked Ramsey to participate in both his movie and book. I have a tremendous interest in financial psychology so I was very curious if Scurlock could pinpoint the root causes of the current debt crisis while accurately assessing the efforts of consumer advocates like Dave Ramsey.

The author touches on a number of topics related to the world of predatory lending. He includes an entertaining history of BankAmericard (now Visa), MasterCharge (now MasterCard), CitiBank/CitiFinancial, and several other companies. He presents numerous heartbreaking stories of individuals who, by their own admissions, failed to plan for disaster and made poor financial choices that resulted in devastating outcomes (including jail terms and suicides). He provides an inside look at the sleazy world of collection agencies. He also shares the opinions of academics and provides occasional quotes from our esteemed politicians in Washington (who naturally reveal themselves as power-hungry, financially clueless morons). Scurlock also makes a few suggestions to address the crisis.

Scurlock has a reporter's instinct. He is very observant and articulates his findings in a lively way. In my opinion, he demonstrates more maturity, more humility, and less emotion when discussing this topic when compared to many other authors (Tamara Draut, Anya Kamenetz, and Barbara Ehrenreich come to mind). Occasionally, he injects his quirky humor, adding to the entertainment value.

Scurlock rails against the "obscene profits" made by banks when pushing "debt products." He makes it sound like that's all banks do. Banks have always pushed debt products for profit. This isn't exactly a revelation. But Scurlock failed to mention that banks also provide essential services such as check cashing/clearing and ready access to our cash via numerous ATMs, for example. These taken-for-granted services are very important benefits to customers (and expensive to administer). Banks help facilitate our day-to-day financial lives. I'm sure my own bank is interested in extracting more profit from me, but my personal banker has never tackled me, put a gun to my head, and demanded I sign loan papers at some usurious interest rate. Banks sell "debt products" for the very simple reason that we demand them!

The issue of personal responsibility is mentioned by the author numerous times but it is not fully explored. In his many anecdotal accounts, dysfunctional behavior resulted in outcomes that were preventable. Even when job losses and health issues were blamed for causing bankruptcies, I noticed that victims spent large sums of money on unnecessary material goods for years, but failed to set aside even a small emergency fund. Their woes were not due to a lack of intelligence, income, or even a debilitating health problem but rather a stubborn denial of reality coupled with poor planning.

For whatever reason, some people choose to live on the edge, using credit cards as a substitute for a cash emergency fund. There's no cushion to mitigate a negative life event--no margin for error. Every spare dollar is consumed, and then some. An emergency fund is certainly not a panacea, but it is a proven way to reduce risk. The subject of risk is something Scurlock only skirts around but does not address directly. The reason Dave Ramsey's message rings true with many listeners is that debt is seen for what it is: risk. If you have debt, you have risk (yes, even if it's mortgage debt). If you don't have debt, your risk is dramatically reduced. Less risk results in more choices and more freedom. It's not a difficult concept to understand.

Scurlock gets bogged down with the negative aspects of financial ruin, but he unfortunately does not provide a complete picture of consumer behavior. For example, a large percentage of Americans religiously pay off their credit cards monthly, routinely rip up new credit card offers, and actively avoid unnecessary fees. Why do these Americans act so differently compared to those that "take the bait" on the road to financial ruin? I know many ordinary people who live below their means, have an emergency fund, buy adequate insurance, drive older cars, have significant home equity, and invest in their retirement plans. They do actually exist, and at almost every economic level. They're all around us, and their numbers are growing every day. To my amazement, the author never investigates the traits of such people (though authors Thomas Stanley and William Danko do in their book "The Millionaire Next Door"). The reason this is important is that these are the habits proven to lead to financial success. Even while admitting that bad behavior can sink some people, Scurlock never investigates how the transformation of financial habits can resolve the current crisis and prevent a reoccurrence.

The phrase "something isn't quite right" appears repeatedly in the book, as if to imply the current debt crisis came out of nowhere. It didn't. In the past decade, I've noticed a distinct shift in financial behavior from defensive to reckless. I have seen lower income families live like the middle class through easy credit. I have seen acquaintances willingly secure huge mortgage loans for homes that they knew they couldn't possibly service. I have watched in horror as intelligent friends went bankrupt after repeatedly making poor life and financial choices, destroying their personal relationships and the psyches of their children. I have seen unprepared borrowers victimized by overzealous mortgage bankers who they viewed as their "best buddies." I have seen a mother bail out her unemployed 19-year old son, who obtained a credit card to buy "cool stuff" and then defaulted. After all, she didn't want him to suffer a hit to his "precious" FICO score. After the debt was settled, he started running up charges again. Yes, indeed, something isn't quite right.

So who is to blame for all this carnage? Well, everyone as it turns out. First of all, financial education is nearly non-existent in our public schools, so our children are clueless about money management (but at least they can learn a vital life skill like the French language!). Secondly, many parents refuse to educate themselves about finance, so they are incapable of passing along important lessons to their children. Parents are also notorious for enabling the poor behavior of their children and often turning their children into helpless adults. Then we have the financial services industry, which provides easy credit to every borrower possible (and sometimes their pets), lending standards be damned. Finally, federal and state governments punish the middle class with hidden fees and stealth taxes (e.g. the Alternative Minimum Tax), which further erode a household's ability to save and invest.

Borrowers, of course, shoulder most of the blame because they drive the demand for credit. Despite the enormous amount of financial information available to them from multiple sources--many free--borrowers live in a perpetual state of denial, refusing to educate themselves. They don't take defensive measures to protect themselves (i.e., living below their means, establishing emergency savings, securing healthcare, auto, home, and life insurance, etc.). They refuse to create and follow even a simple budget. They refuse to control their spending. They create the circumstances of their own financial ruin. Scurlock certainly describes these behaviors along with the self-flagellation on the part of the "victims," but leaves it at that. He acknowledges that bad behavior often results in disaster, but then proposes solutions that do not address the behavior itself.

This brings me around to Dave Ramsey again. He is a hero to a large number of people who are determined to resolve their problems and achieve total debt-freedom (including the mortgage). He teaches self-control, personal responsibility, risk management, and an easy-to-implement plan to reach financial independence. He teaches his audience not to ask "how can I borrow my way out of this?" but instead "how can I solve my problems without credit?" He makes an exception for mortgage loans, but even then he teaches his listeners to secure a reasonable loan with conventional terms. He prefers his listeners confront their problems, shed feelings of victimization, and turn the tables on the financial services industry. It's a message that plays very well. I felt Scurlock did not adequately acknowledge the importance of this vital movement in the book.

Although it's clear some fraudulent subprime lending occurred in the past few years, nearly all cases were fully disclosed, legal transactions. Even though Scurlock would like government to step in and clean up the industry, he apparently forgot that government helped create this mess in the first place by actively encouraging banks to loosen standards to lend money to borrowers considered very risky by historical standards. The results were predictable. Some borrowers knowingly took the proverbial rope handed to them and promptly hanged themselves. So, basically, the government created the problem and now many are asking the government to fix it.

What happened to people learning to control their own lives and financial futures without government intervention? We can demand punitive regulation of the financial services industry all day long, but this will not solve the problem (incidentally, banking is among the most regulated of all industries which Scurlock mentions, to his credit). The true root cause of the crisis is bad behavior on the part of consumers. The government cannot legislate good behavior. That is our responsibility. It's time Americans openly admit that we are more the victims of our own lofty sense of entitlement and ignorance rather than the tactics of the financial services industry. It is worth noting that first-generation millionaires never count on the government to dictate their destinies (as documented in "The Millionaire Next Door"). The author missed a golden opportunity to balance his research with this well-established information.

Despite the deficiencies I noted above, this is a book worth reading. Scurlock's style and investigative abilities are unique and much can be learned from reading his analysis. I feel that some reviewers are unfair to Scurlock, accusing him of being overly political. I don't feel this is the case at all. While I resist government intervention to solve problems that we can easily resolve ourselves, the root causes and results of our financial decisions are complex and must be fully explored and understood. "Maxed Out" provides an excellent starting point for such a discussion.

Informative.......2007-09-08

Having seen the dvd, this is one of the few times that I actually liked a dvd more than the book. Both were informative (the book actually goes into more depth of the subject of finance companies, payday loans, predatory lending, pawnshops, and credit cards), but I found it dryer and not as interesting. It's hard to feel as involved without a face being attached to the subject. Scurlock does write with wit on a subject that might otherwise be boring. There is some very important information regarding this subject that anyone applying for credit needs to know.

Interesting but..........2007-07-09

Like Michael Moore and Morgan Spurlock, James Scurlock is a consumer advocate with a populist bent and a tendency for hyperbole. I had no doubt reading this book (and watching the more restrained DVD) that Scurlock knows his stuff -- his research is considerable and he has a background in business. The gap between the rich and poor has been well documented elsewhere, so some of his foundational arguments aren't exactly seminal. It does, however, always merit a mention that business has been deregulated in alarming ways, none of them helpful to anyone but profiteers. Anyone wishing to examine the moral health of a country would need to consider unethical business practices as a corrosive effect. It is difficult to see the value of free markets and the "invisible hand" when examing in the "selling money for profit" industry.

Unfortunately, in illustrating his concerns with real people, Scurlock pulls out every trick in the bleeding heart bag. I lost count of the number of people he writes about who had family members commit suicide due to the stress and shame of financial ruin (and by extension, by the unethical practices of the debt industry.) I have a very hard time believing that money stresses are the sole motivator in suicide -- if that were the case, the global population problem would be over during one lean period. The book works when Scurlock focuses on facts; when he resorts to personal stories it starts to seem manipulative. He glosses over the biggest counterargument -- that even the "poor" in these stories are living far better than people did in the 1920s, an era Scurlock fears we are reproducing.

As much as I despise simplistic "personal responsibility" arguments, I'm afraid Scurlock resorts to similar reductionism. A lot of the debt illustrated in this book is frivolous and rooted in materialism. It is sad that people's lives are ruined over debt... but who in their right mind buys a Lexus or Escalade when they're making a median income? That isn't a business problem, it's a common sense problem.

We are facing many financial problems in this country -- one need only look at the military and Katrina relief effort to see two glaring examples. "Maxed Out" is interesting when it focuses on the bigger picture, but the personal financial stories don't gel well with the dire feeling of those larger issues.

Eye opening.......2007-07-08

Very interesting read. You can learn a lot about the practices of lenders and get a quick snapshot of common americans, who are totally baffeled by credit terms, but totally driven by the need of money. Some stories deserved their fate, but some, as the stories described them, are victems of a lending system that preys on the ignorant with legal talk and slight of hand mathematics.

You'll learn lessons that will protect yourself.

Inconsistent and anecdotal.......2007-06-24

To his credit, Mr. Scurlock righly points out that under the current laws, the banking industry targets the poor and uneducated with this country with predatory tactics, with impunity.

On the downside, this book is full of assertions (including statistics)and strongly held opinions, but except for occasionally mentioning an author or book he recommends, the author has NO documentation (formal citations, footnotes, index, etc) for his many assertions. Instead, the book is a rambling litany of anecdotes, which are likely atypical, as he points out that he searches hard to find interviewees to make many of his points.

However, reading this, two important points crystallized in my mind, as far as potential solutions (Scurlock doesn't offer real solutions, he just bemoans reality):

a). Whether it be the litany of books, pieces on television such as PBS, etc. or the frightening statistics such as the massive level of credit card debt in this country(over $9000 per household), or modern economic theory (which believes that credit cards with their long payoff periods cause us to overspend) -- it seems like the LONG TERM debt that credit cards (especially high rate cards) allow is a fundamental problem. Implementing a maximum payoff period of say 12 to 18 months as a law, after some sort of warning period to prepare folks in debt -- could fundamentally alter the landscape (though it would take political courage by congress, so is highly unlikely).

b). Given the dramatic rise in personal debt over the past 25 years, which has largely mirrored the dramatic use of credit cards -- consumer debt might well be THE primary reason for the growing wealth inequality in this country. Bringing back some reasonable level of usary laws, to limit the predatory behavior of banks and short term lending institions, should help curb this massive growth of high interest debt among the poor.

The Creature from Jekyll Island: A Second Look at the Federal Reserve

Average customer rating:

The Hobo Philosopher
Fearfully Factual - Wholly Horrific
Even a beginner can understand
The Matrix
Should be required reading

The Creature from Jekyll Island: A Second Look at the Federal Reserve
G. Edward Griffin
Manufacturer: Amer Media
ProductGroup: Book
Binding: Paperback

Money & Monetary Policy | Economics | Business & Investing | Subjects | Books

General | Business & Investing | Subjects | Books

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Similar Items:

Secrets of the Temple: How the Federal Reserve Runs the Country
How The World Really Works
The Case Against the Fed
World Without Cancer: The Story of Vitamin B17
Tragedy & Hope: A History of the World in Our Time

ASIN: 0912986395

Book Description

Where does money come from? Where does it go? Who makes it? The money magicians' secrets are unveiled. We get a close look at their mirrors and smoke machines, their pulleys, cogs, and wheels that create the grand illusion called money. A dry and boring subject? Just wait! You'll be hooked in five minutes. Reads like a detective story — which it really is. But it's all true. This book is about the most blatant scam of all history. It's all here: the cause of wars, boom-bust cycles, inflation, depression, prosperity. Creature from Jekyll Island will change the way you view the world, politics, and money. Your world view will definitely change. You'll never trust a politician again — or a banker.

Customer Reviews:

The Hobo Philosopher.......2007-10-02

This book is not main stream. Its critics would probably call it the radical theories of a "gold bug". A more "establishment" answer to the criticisms brought up in this book can be found in Galbraith's - Money, From Whence It Came and Where It Went.
This book is structured very well. It is easy to read and very persuasive but if you are like me, after you finish this book you will have more questions than you have answers.
The book makes some good points on the other hand it promotes many fantasies.
Mr. Griffin could be right on many things but his answers for the most part would not make things better - but worse in my opinion.
The solution to the MONEY problem are more complicated than the answers that are supplied here. This book is a good book to buy and to read but one must read it very critically - very critically.

Fearfully Factual - Wholly Horrific.......2007-04-22

If you, like me, believe that the truth doesn't always makes sense, but the WHOLE TRUTH usually does, then you will appreciate and value this well researched, carefully written work by G.E. Griffin. Even so, this is just the tip of a much bigger iceberg, but for anyone who wants to know why the working class has to work so hard, just to go backwards, you will find out a very definitive answer in this book. This book is a must have for any TRUTH SEEKER fighting for facts in an age of profiteering deceipt. If you are new to economics, please read "Whatever Happened To Penny Candy" by Richard J. Maybury and Jane A. Williams first and you will know more than than most politicians. Griffins other book, "A World Without Cancer" is equally as researched, informative, and important.

Even a beginner can understand.......2007-04-04

When I first read this book - I had only just begun looking at the banking system and how it worked. My knowledge extended a bit past CNBC - but not much. I found it understandable and enjoyable. Since my original read (about 3 years ago) I have read it again and bought a second copy to loan out - I don't want to lose my original. I'm not sure Joe Average could simply pick it up and be enthralled, but if you have an interest in the banking system - this is a great book - even if you have little background in the subject.

The Matrix .......2007-03-17

AFTER READING THIS BOOK YOU WILL HEAR DISCUSSIONS ON TALK SHOWS, ARTICLES IN THE PAPERS AND YOU'LL LISTEN TO THE RHETORIC BANTERED BACK AND FORTH AMONG PEOPLES TRYING TO GRASP "WHY THINGS ARE HAPPENING THE WAY THEY ARE". WHY DO BANKS GET INVOLVED IN APPROVING HOME LOANS ON OVER VALUED PROPERTY...KNOWING FORECLOSURES WILL SOON SKYROCKET? WHY DOES THE US SELL WEAPON TECHONOLOGY TO COUNTRIES THAT, WE CITIZENS ARE TOLD, ARE PROBLEM COUNTRIES? WHY HAS THE CIA TRAINED FOREIGN BORN INDIVIDUALS, SUCH AS, BIN LADEN AND OTHERS KNOWING FULL WELL WHAT THEY ARE ALL ABOUT? THE MEDIA REPORTS EVENTS AND WE ASSUME THAT IT IS TRUE...THAT IT REPRESENTS REALITY. BUT, THIS BOOK WILL TELL YOU WHAT IS REALLY GOING ON. THEN YOU WILL REALIZE HOW FOOLISH WE ARE TO LIVE IN THIS "WORLD OF MAKE BELIEVE" THAT THE MEDIA HAS CREATED FOR US.

Should be required reading.......2007-03-06

You can read the other reviews for synopsis and overviews. This is a must read and should be required reading for all Americans. It is a well researched and footnoted exposition on the Federal Reserve and far more. Griffin goes into fascinating asides regarding the origins of money and banking and the ways that bankers have instigated wars while supporting both sides. This book should be of great interest to those who enjoy either history, finance, foreign affairs, mystery or politics and answers many questions as to why the "world" is as it is today. The first 50 pages are a little slow and then it reads like a detective novel. It could even be argued that it's one's duty to read this book.

Economics of Money, Banking, and Financial Markets plus MyEconLab Student Access Kit , The, Seventh Edition

Average customer rating:

Good book for undergrads
About the MyEconLab attachment to this book
Wow, an Econ book that is actually easy to understand!
The best by far of slim pickings

Economics of Money, Banking, and Financial Markets plus MyEconLab Student Access Kit , The, Seventh Edition
Frederic S. Mishkin
Manufacturer: Addison Wesley
ProductGroup: Book
Binding: Hardcover

General | Popular Economics | Business & Investing | Subjects | Books

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All Titles | Qualifying Textbooks - Fall 2007 | Stores | Books

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Economics of Money, Banking and the Financial Market (Study Guide)
International Economics: Theory and Policy (6th Edition)
Macroeconomics
Economics of Money, Banking and Financial Markets plus MyEconLab plus eBook 1-semester Student Access Kit, The (8th Edition) (MyEconLab Series)
Essentials of Investments with Standard & Poor's Educational Version of Market Insight + PowerWeb + Stock Trak Coupon

ASIN: 0321200497

Customer Reviews:

Good book for undergrads.......2005-04-06

We used this book in our international finance class in univ of chicago. what i have is the 2nd edition but i have to admit this is a really comprehensive and clearly organized book, it is an ideal book for people who are interested in getting a general picture of money, banking and basic exchange rates. one drawback i can think of is the price.

About the MyEconLab attachment to this book.......2005-02-16

If you're an independent learner; that is, not enrolled as a student in a course at a school, OR IF YOU ARE, BUT THE INSTRUCTOR IS NOT PARTICIPATING (Using the MyEconLab software for course materials), and thus can't provide you with a COURSEID, a warning about the MyEconLab study aid attachment to this textbook; the instructions for registering to use MyEconLab are less than candid.

They just say that without a CourseId you can still access "most of the online resources listed." You are directed to a generic Mishkin web site instead of registering at the main MyEconLab portal.

Being an honest person, I used the alternate registration. I was still asked for the ZIP for my school; I used my own. I then got a list of local schools or "Other" to choose from. I chose other, and entered "Independent Learner".

The registration then completed; the confirmation stated it is only good for SIX MONTHS.

If you go to the main MyEconLab Web portal shown in the user manual after registering as a non-student, your user ID will not be recognized. You have to use a generic portal for the Mishkin textbook instead.

What you get there is:

e-textbook, glossary, FLASH animated graphs, chapter quizzes and Web links from the textbook margins
The Weekly news selection (web links, so may expire; earliest was Aug. 2004)
The "Chapter Readings" in journals, etc. (ditto above)

Since these can expire at their parent web sites, I suggest you take the precaution of printing them out (I use Acrobat to make PDF files or download PDF files if available at the source). Also check out any links in the articles and do the same.

The Readings are probably the best of what you DO get, along with the animations and quizzes. The web links are updated, that's OK if you're not good at figuring that sort of thing out for yourself.

There is also a series of Chapter Appendices, not printed in the book, available with the e-text of the book at the alternate site.

WHAT YOU WON'T GET:

"Foundations Interactive" (whatever that is)
"MathXL for Econ" - the math review tutorial (would be nice)
"Research Navigator"
"eThemes of the Times"

The last two are a REAL Disappointment to me, because the Navigator (see textbook Preface) is supposed (among other things) to provide "a complete YEAR of search for full-text articles from the New York Times" and "Best of Web Link Library of peer-reviewed web sites." The last is described in the Preface as "thematically related articles from the NYTimes accompanied by critical-thinking questions." I was looking forward to these, because the NYTimes charges $$ by the article for archived (non-current) articles, and this can get expensive in a hurry, and an increasing number of other web sites, including industry association journals are now similarly archive and have paid access only.

So without being enrolled in a class that has an instructor who is using the course material software, you won't be able to access some of the BEST of the advertised materials of the MyEconLab add on.

They could have been clearer about WHAT exactly you would have had access to. They also could have said that the non-student registration is only good for 6 months, since the description of the NYTimes access for a full year (which you don't get at all) might reasonably lead one to infer that the registration is valid for a year.

And I fail to see why they couldn't throw in at least the Math review tutorial, since it wouldn't seem to involve any kind of outside contract or royalty such as the NYTimes access might.

Wow, an Econ book that is actually easy to understand!.......2004-09-30

I'm on Chapter 4 of this book, and I'm surprised at how clear and concise the author is. The sections are broken up very well and provide side titles in case you ever need to flip back to a certain topic.

The best by far of slim pickings.......2004-01-18

I reviewed every Money and Banking text I could get my hands on before selecting Mishkin's text to use while I was an instructor at one of the top universities in the US. Mishkin's text was hands-down the best text. But there weren't a lot of alternatives to choose from. This text gets used in a lot of MBA programs.

The thing I liked most about this text was its comprehensiveness. Mishkin did a far better job than the other text of introducing stock options. And of course, he covered the banking (money multiplier, bnak loans, etc.) side comprehensively. Good job with exchange rates, too.

Weaknesses: Need more on the insurance industry, particularly with the biggest banks now firmly in that business. Need more on financial futures. And finally, I'd like to see a little more mathematical rigor. I supplemented the text in an undergrad class with some more mathematical articles from the economics literature.

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