I just finished reading the last pages of Financial Shock by Mark Zandi. Zandi is the head of Moody’s Econony.com and a man well seasoned in all things finance.
Financial Shock can be best described as the definite guide to why and how our financial system got to the point it collapsed into the current financial crisis. Zandi writes the book in a rather repetitive and at time discontinuous way in order to put stress on the key issues an how they relate. This results in the reader sometimes going into the “Darn, not this again” sentimentality. I however believe that he does this for a reason, that is to hammer his key points into your head so that you will be sure to understand and remember what happened, why it happened and how it happened.
The way that the book is written is in a straight forward and easily understandable manner so that anyone can understand it’s content and the above mentioned iteration concept for writing the book does a great job of making sure that the information in the book is accurately and effectively hammered into the head of the reader. This is important for anyone who would like to understand what’s going on in the world today.
Financial Shock pretty much covers every thing related to the crisis up to the summer of 2008. A quick follow up to it content will most likely be presented in Barry Ritholtz’s Bailout Nation, out this week in the US and next month in Europe.
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