In the Times of India, Abheek Barman reviews Andrew Sorkin’s “Too Big to Fail,” a blow-by-blow account of the bail-out and makes a couple of insightful observations:
“It’s a tribute to his writing that despite his ball-by-ball narrative Sorkin manages to hold your attention for nearly 550 pages. His character sketches are lean and unjudgemental. Yet, though he doesn’t pass judgement, by the end most of the characters – with the possible exception of Buffet and some of the regulators – come across as distinctly unsavoury.”
and
“Sorkin faithfully sticks to his task as chronicler. Near the end, he observes that the financial system, created to support real businesses and the economy, had crossed the road. Instead of helping trade and commerce, it was busy feeding itself, money making money. As the crisis receded, “it left the survivors with a real sense of invulnerability at having made it back from the brink. Still missing in the current environment is a genuine sense of humility” . That should raise some red flags about the current state of global markets.”
Lila,
Sorkin is but one in a long line of “original” thinkers who have figured out that the financial system doesn’t do “what it’s supposed to do”. Unfortunately, the answer is highly unoriginal… more regulation.
I know you’re not a big fan of the theoretical but, if you understand the theoretical, you don’t need ten or twelve Sorkins writing books “exposing” these people as self-interested, unproductive and criminal.
I’m criticizing here the mainstream critics and thinkers, not you, I know you get this.
And by the way, I consider efforts like the Sorkin piece to be part of the Controlled Opposition. Reason being the one given above… somehow the recommendation is always more statism.
Taylor –
You are reading things I didn’t put there.
I quote the piece not to give any props to Sorkin..but because the review “sees through”
Sorkin and notes the crucial point of the book..
it indulges in the context less style of msm journalism that ultimately makes them handmaidens of the state.
Go back and look.
I read everyone and quote everyone.
I use their own words to show you what they’re about.
I see what the matter is. I read the whole article but didn’t quote the part that would clarify the point.