Will I love Fool's Gold?

The Great Financial Crisis of 2008 might look like a storm that blew up out of nowhere but it had been brewing for a decade or more in the murky world of structured credit. Written by one of the first journalists to see the problem coming and skillfully unravelling complexity through the story of a small band of derivatives experts, Fool’s Gold shows the unintended consequences of financial innovation as it spun out of control. 

Tett got pretty impressive access to JP Morgan and the team of Wall Streeters who revolutionized, and later collapsed, the banking industry. I loved reading this book because it was so approachable and fast-paced, and showed how an ethnographic approach reveals unique (and in this case out-of-control) institutional cultures can have global impacts.

*A little like Karen Ho’s ethnography of Wall Street, but less academic!