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Who Runs Britain? by Robert Peston
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07 November 2008
The origins of the present crisis lie with the recklessness of a generation of bankers and financial whizz kids, and the jaw-dropping naivety of Labour ministers and officials who, terrified of being painted as "anti-business", have "mollycoddled" the turbo-capitalists.
Peston still admires greed, however, and this remains the most riveting book on finance you may ever bother to read.
Synopsis by Foyles.co.uk
On 13 September 2007, Robert Peston broke the news that Northern Rock had become a victim of the global credit crunch and was seeking an emergency loan from the Bank of England. It was the latest in a long line of scoops by this award-winning journalist. Over the weeks that followed, the Government found itself exposed to the Rock to the tune of 57 billion, or almost GBP2000 for every taxpayer. As Robert Peston shows in his fascinating new book, the seeds for the collapse of Northern Rock and the upheavals in the financial markets were sown years before. WHO RUNS BRITAIN? is the first time anyone has drawn all the threads together to weave a story that's rich in extraordinary characters and outrageous feats of economic bravado. This book is about the widening gap between the super-rich and the rest of us. It explores and explodes the myth that the financial creativity of those who are amassing these vast fortunes is good for the wider economy and for all of us. Whether you're a financial expert or just have a bank account, WHO RUNS BRITAIN? is a book you must read.
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