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Bad Banks
Bad Banks
Oct 27, 2024 4:28 AM

Author:Alex Brummer

Bad Banks

Bad Banks is a gripping account of the problems and scandals that continue to bedevil the world's banking system some eight years after the credit crunch.

It follows the fortunes and misfortunes of individual banks, from RBS to Lloyds. It exposes instances of mis-selling, money laundering, interest rate fixing and incompetence. And it considers the bigger picture: how the failings of the world's banking system are threatening to undermine our future economic security. Alex Brummer, the City Editor of the Daily Mail, has had access to all the major players, from HBOS's Andy Hornby, to former Governor of the Bank of England Sir Mervyn King, to the ex-Chief Executive of Barclays, Bob Diamond, to Lloyds' António Horta-Osório. His book is an insightful – and terrifying – account of institutions once renowned for their probity, but now all too often a byword for incompetence, and worse.

Reviews

Grimly fascinating... This is a pacey accessible and astute summary of what has gone wrong with the banks, and what the banks have done wrong... It is a sobering narrative in which Brummer's judgements are nuanced and reliable.

—— Oliver Kamm , The Times

Like a surgeon at his operating table, Brummer dissects each British, American and European scandal of the last 10 years. He spares nobody, but his demolition job is made all the more powerful by the sparing language he deploys towards his targets. This is controlled menace at its best.

—— John Kampfner , Observer

[Brummer] is a doyen of British financial journalism and it shows in the maturity of his judgments and breadth of his knowledge... It is all skilfully woven together by a writer who knows when to fly high and when to swoop low.

—— Financial Times

Through and expansive.

—— Management Today

An informed, riveting and ultimately disconcerting read.

—— Business Life

Dr. Edward Tse explores very clear the rise of the China's entrepreneurs and the opportunities their rise will generate. After reading the book it became very clear for me how global businesses will inevitably have to become more 'Chinese' in their manner of operating

—— Ronnie Leten President & CEO, Atlas Copco AB

A detailed and fascinating study of the changing landscape in China and the entrepreneurs who are driving that change forward. This is a book that will only become increasingly important in the years to come

—— Chen Dongsheng, Chairman and CEO, Taikang Life Insurance Co. Ltd. and President, China Entrepreneurs Forum

A useful corrective for those who regard China as a calcified state-driven economy and underestimate the changes taking place

—— Financial Times

Big Capital adds to what must be a commitment to change. It lays out clearly that the struggle for space will be at the top of the agenda within large cities

—— Lisa Mckenzie, Research Fellow in the Department of Sociology, London School of Economics

David Enrich is a masterful story teller ... Michael Lewis has a new rival

—— Sheila Bair, former chair of the FDIC and president of Washington College

An absorbing read that provides both a meticulous dissection of an immense scandal as well as a fascinating human story

—— Bethany McLean, bestselling author of THE SMARTEST GUYS IN THE ROOM: THE AMAZING RISE AND SCANDALOUS FALL OF ENRON

For years, David Enrich has chased down the inside story of one the biggest financial frauds in history and was even threatened with jail by a British court if he printed what he knew. Now, in his blockbuster book The Spider Network, all of the secrets come spilling out…With an unerring eye for detail, Enrich shows in this masterful work how a toxic stew of greed, arrogance and a lust for power led to a criminal scheme of unparalleled dimensions. It should be required reading for anyone who wants to understand the dirty underbelly of the financial world.

—— Kurt Eichenwald, Pulitzer Prize winning author of THE INFORMANT

This dwarfs by orders of magnitude any financial scams in the history of markets.

—— Andrew Lo, Professor of Finance at MIT

In the hands of journalist David Enrich, the true tale of former UBS and Citigroup trader Tom Hayes becomes a page-turning crime drama that engages – and educates – readers from beginning to end.

—— The Charlotte Observer

A gripping narrative ... impressive reporting and writing chops are on full display ... reads like a fast-paced John le Carré thriller, and never lets up

—— New York Times book review

a feat of reporting, and much of it reads like a novel

—— Leigh Gallagher , Washington Post

a remarkable read

—— John Arlidge , Sunday Times

jaw-dropping

—— Financial Times

a gripping financial thriller

—— Daily Mail

Well worth the read. I couldn’t put it down

—— Investing.com

A potent book... an incisive social critique that slices through financial jargon and gobbledygook to accurately map the all-too-common corruption in America’s hedge funds that are sucking up billions and billions that used to be invested for the growth and benefit of society as a whole in building infrastructure, expanding existing and new businesses and creating jobs

—— Winnipeg Free Press

An utterly absorbing look at how Cohen pushed his traders to the limit—that “black edge”—and how he mostly insulated himself from the potential ramifications. This fast-paced, true-life thriller will leave readers enraptured—and troubled

—— Booklist
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