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By Beverly Chandler, Opalesque London:
In a tightly argued and fearless delivery of his controversial views, arrived at from a ringside seat as a hedge fund manager operating throughout the financial crisis, Mitch Feierstein has written a terrifying book, indicting our rulers and financiers for running an elaborate Ponzi scheme that will most likely end in all of us losing everything.
Dismissing Madoff as small fry in the Ponzi stakes, Feierstein applies the Ponzi definition to the world economy and finds that it fits. As an American hedge fund manager, Feierstein is the least likely scaremongerer for the financial world but in Planet Ponzi he relentlessly outlines exactly how indebted the world is and how we don’t seem to be in a hurry to sort the position out. Calling on references from James Stewart to Lenin, Feierstein hurls financial facts at the reader which conclusively show that things, as we really know in our hearts of hearts, aren’t so great in the financial world.
Feierstein holds fast with his theme of referring to the ongoing financial crisis as a giant Ponzi scheme, detailing 'how politicians and bankers stole your future’. The book is divided into four sections. The first points its finger and reveals the inadequacy of Washington; Part Two, looks at Wall Street’s role and the third part looks at the wider world, detailing 'the rise and rise of Planet Ponzi’. Part Four, is worryingly slim but encou...................... To view our full article Click here
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