13 Bankers

Important albeit depressing book to read, especially for more context if you read “The Big Short.” The most important chapter is the last one where they actually provide an answer to the question about “How big should we let banks become.” Reading in 2023 right after the collapse of Silicon Valley Bank, I kept wanting to read an update — this was written in 2009 and it seems like the system has just shrugged it off and ignored every possible lesson from 2007-2009 collapse. One thing the book does a good job of is making clear that America’s banks are a huge part of what’s hurting America and the global future, because the banks have essentially become casino gamblers whose only function is to play games where the reward is a greater hoard of wealth rather than directing capital to solve any actual real-world problems.