The
Alchemists: Inside the Secret World of Central Bankers
By (author) Neil Irwin
After
a dramatic reconstruction of the beginning of the credit crunch, Washington
Post journalist Neil Irwin, who has an MBA from Columbia Business School and a
master's degree from Columbia's journalism school, where he was a
Knight-Bagehot Fellow in Economic and Business Journalism gives us a tour of how central banks became such a
critical part of the global financial system. The bulk of the book deals
with the shadowy and unknown world of the most
influential bankers on the planet. Men who
were never elected to public office suddenly became the real masters of the
universe.
Ben
Bernanke of the U.S. Federal Reserve, Mervyn King of the Bank of England, and
Jean-Claude Trichet of the European Central Bank. Over the next five years,
they and their fellow central bankers deployed trillions of dollars, pounds and
euros to try and contain the waves of panic that threatened to bring down the
global financial system.
The
Alchemists is a fascinating account of the most intense practice in economic
crisis management and at the same time an insight of the role and power of the
central bank. This is an exclusive, behind-the-scenes view of
their work, and a better understanding of banks and their significance in our
lives and livelihood.
This large book
presents a high-drama, panoramic story of history of the relationship between
capitalism and the state. It is definitive, revelatory and riveting. The
Alchemists shows us where money comes from and where it may well be going. It
tracks the story of the last five years from the vantage of the central bankers
as they worked in close coordination to try to keep ahead of unfolding events,
the global financial crises.
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