Lost For Words
Red or Dead
by David Peace
The Girl Who Saved The King of Sweden
Yet another staggering, beautifully written story and one which is causing huge waves in the US at the moment.
Lewis’s genius, as with his bestseller “The Big Short” which explained the sub-prime market crash, is to tell a complex and technical tale with real clarity through the eyes of a group of people you grow to like.
The book’s central premise is that high frequency trading (HFT – I’m not going to explain it here) has come to mean that the stock market that normal investors see doesn’t actually exist and, in fact, the reality is collusion by brokers, HFT firms and the “dark pool” trading rooms of big wall street banks to make billions from ordinary investors who are now playing a rigged game they are not equipped to win.
Corruption, greed, a total lack of morality and, of course, the twin risks of creating artificial turbulence in the markets, or even another crash, and removing the now old-fashioned concept of ordinary people investing in companies which use then the money to grow and provide jobs.
The book’s full of revelations, not least the staggering moment when Goldman Sachs, briefly, does the right thing.
Five stars, innit.
[Stolen, with his permission, from our friend James Clark’s Facebook page.]
The Man Who Couldn’t Stop
by David Adam