After the panic

$39.00 $20.00

Everyone knows the world’s financial markets are in a mess at the moment. Panic has ravaged the savings and investments scene, and the global banking system is teetering on the brink. The last 18 months have been widespread devastation within the savings and investments sectors, and New Zealand’s funds management industry has been cited as one of the world’s worst. The scale of the wealth destruction has been immense, and many Kiwi mum-and-dad investors have seen their hard-won savings decimated.

But every recession has a silver lining, and this one is no exception. It’s harder to hide dubious practices in a harsh economic climate, so in draining liquidity from the swamp all sorts of things have come into view.

In this explosive, uncompromising book, economist and commentator Gareth Morgan wades into this mess, gumboots and all. He scrutinises the present crisis — how it started, how it got so bad, so quickly — and describes the conditions necessary for recovery. He shows how an unhappy coincidence of regulatory negligence and institutionalised greed has conspired to set back the retirement plans of thousands of ordinary Kiwi investors by years, if not decades. And although we’ve become accustomed to vague rumours and faint innuendo concerning dodgy dealing in the financial services sector, Morgan is characteristically unafraid to name names. Forewarned is forearmed: Morgan equips Kiwi investors with the tools they’ll need to make smarter, financially literate choices in the days ahead.

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Everyone knows the world’s financial markets are in a mess at the moment. Panic has ravaged the savings and investments scene, and the global banking system is teetering on the brink. The last 18 months have been widespread devastation within the savings and investments sectors, and New Zealand’s funds management industry has been cited as one of the world’s worst. The scale of the wealth destruction has been immense, and many Kiwi mum-and-dad investors have seen their hard-won savings decimated. But every recession has a silver lining, and this one is no exception. It’s harder to hide dubious practices in a harsh economic climate, so in draining liquidity from the swamp all sorts of things have come into view. In this explosive, uncompromising book, economist and commentator Gareth Morgan wades into this mess, gumboots and all. He scrutinises the present crisis — how it started, how it got so bad, so quickly — and describes the conditions necessary for recovery. He shows how an unhappy coincidence of regulatory negligence and institutionalised greed has conspired to set back the retirement plans of thousands of ordinary Kiwi investors by years, if not decades. And although we’ve become accustomed to vague rumours and faint innuendo concerning dodgy dealing in the financial services sector, Morgan is characteristically unafraid to name names. Forewarned is forearmed: Morgan equips Kiwi investors with the tools they’ll need to make smarter, financially literate choices in the days ahead.

After the panic was last modified: April 2nd, 2013 by Gareth Morgan