Read eBook The Default Line: The Inside Story of People, Banks and Entire Nations on the Edge –

How can a banking system become so unregulated that it offers a gold credit card to a dog For Channel s Economics Editor Faisal Islam, these are examples of nations, institutions, and individuals crossing the default line, the point at which the optimism of economic boom flips into fiscal madnessHaving exposed the Icelandic banking crisis, watched Lehman Bros crash, investigated emerging economies in India and China and interviewed a host of key international players from the Governor of the Bank of England to the head of the the Chinese sovereign wealth fund, Faisal Islam is the perfect guide to the global economic crisis Juxtaposing vivid anecdotes with high level exclusive interviews and trenchant economic analysis, THE DEFAULT LINE is a really accessible way of understanding the economic shape of the contemporary world

11 thoughts on “The Default Line: The Inside Story of People, Banks and Entire Nations on the Edge

  1. Mr Q Mr Q says:

    Whilst the subject matter of this book is quite complicated in parts, Faisal Islam has managed to break it down into easily digestible chunks.There are some fascinating insights into the world of banking and finance and he manages to successfully portray the subject matter from a variety of different perspectives If you have been curious to learn about the background that has led to the banking fraternity being rightly condemned as social pariahs and blamed by many as being the root cause of many of our economic and social problems then you need to read this book It covers a whole array of issues from global economics, to the the financial crisis, the underhand tactics of the banks and financial institutions, the fragility and collapse of the housing market, and some of the human stories that highlight these issues you will find truly shocking.It certainly is thought provoking and makes you seriously question the motives of those in positions of power and influence across the spectrum s of both government and private enterprise You cannot but wonder, that despite all the criticism, law suits and public condemnation that anyone has learned anything as it would appear not the song remains the same, and they are still calling the tune.

  2. Ignitionnet Ignitionnet says:

    This book takes complicated issues, intertwined extensively with one another, and breaks then down into manageable chunks then presents them clearly.The background interviews are fascinating, the analysis thoughtful, the extra detail that hindsight adds puts many things into context.For me the big issue here is the repercussions of these events on the future, and how that future is going to struggle to be a bright one unless there is a huge change in the attitudes of politicians who remain concerned about bribing the electorate with their own money than fixing the actual issues.It s a great story, the ending can t be described as a happy one but it is what it is What it is is brilliantly told, with depth but with a rare clarity.Highly recommended.

  3. Brian O'Connor Brian O'Connor says:

    This book takes one into detail that is not available elsewhere It backs conclusions with facts It is technical and that is what is required to understand the roots of the current economic crisis.At the end of the book he offers 10 ideas to chew on and admits that they are all flawed He calls them part solutions.For example, here are three of his 10 ideas He suggests that 1 MP s mortgage subsidies be scrapped and their pay raised.2 the voting age be cut to 15.3 we switch tens of billions of Pounds to mass building of houses ie bring sub prime from the USA to the UKHis ten ideas will not take us out of the economic crisis.I would suggest that every penny is considered for investment in productive assets in the UK How much longer can we go on with a trade deficit of 4 billion each month If you asked me for a solution I would suggest copying the best of the German and Chinese economies For implementation of the German model we need MPs who have skills in engineering, electronics, maths and science We need MPs who have worked in manufacturing I suggest that a background in public relations is the last qualification to be considered for our parliament,.What really annoys me is to see massive ships with thousands of containers from the Far East entering our ports and the same ships leaving empty or full of scrap paper etc.A background point.when driving a visiting Chinese businessman along an English road every road he asked me where are the factorieswhere are the farms This book is very good at describing what happened it is weak on suggesting solutions.Brian O Connor

  4. G. Harris G. Harris says:

    I found this book very helpful in understanding the intricacies of the housing and finance bubbles that formed over the last fifteen years The system of cross referencing allowed me to follow threads as well as the standard narrative of the books chapters As with any subject the complicated there were areas where I needed explanation However I found this book to be far easier to understand than the majority on this topic Faisal s access to and familiarity with some of the key players added depth and personality to what can be a dry topic.

  5. Marc Munier Marc Munier says:

    Big fan of Faisal s reporting so when I heard hr had a book out I bought it straight away It has the detail you d expect from a journalist but what is most pleasing is the narrative style, it reads almost like a novel meaning you can digest the huge amount if information you need to in order to fully understand the root causes of our current economic situation.A fascinating educational and in some places riveting read

  6. Firefly78 Firefly78 says:

    This is economics not ordinary A stimulating read, a fresh perspective and interesting narrative about what is really happening in the world economy It is stylishly written with a focus on people at the heart Looking at economics and the effect of economics and financial systems on real life and how that in turn creates interlocking tensions that ultimately reach us at home, in our pocket and in our communities It is a fascinating take on the impact of the power of world financial systems.Faisal Islam has succeeded in writing a book you will not be able to put down.

  7. I. Hamilton I. Hamilton says:

    I bought this for my husband s Christmas and all through reading it, all he could say was This book is fantastic You ll have to read it I ve never heard this reaction from him before so I can only assume that it must be a very informative and interesting read.

  8. M. Selway M. Selway says:

    Thank you Faisal for writing this.I haven t been able to put down a thoroughly enjoyable and very informative read.Highly recommended.

  9. Gar Gar says:

    A fair look at the result of the financial crisis of 2008, which still haunts the world to this day From those that helped stoke the fires, to those who are made to suffer this book offers a look at the many faces of a world in a downward financial spiral Well worth a read.

  10. x.delcourt x.delcourt says:

    Une trajectoire tr s mondialis e sur la ligne de faille financi re et ses circuits de propagation Stimulant, tonnant, Impeccable et exceptionnel,

  11. history fan history fan says:

    Having read the Irish versions of the story of financial collapse and other works on the financial crash of 2008, I found this an interesting read, providing up to date c.mid 2013 views of the UK situation and other places like Germany, Greece, Spain, China and the USA Generally its blow by blow story telling and the analysis is in the way the tale unfolds so be prepared to think about whats being said having said that for real indepth analysis of this crisis, Freefall by Joseph Stiglitz is complicated but provides better context This is a journalist writing reasonably well on a story he was immersed in, don t expect too much in the way of historical perspective, rather it takes up the story where many left off and brings the economic news in condensed form from a UK based global view on matters