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  1. Home
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  3. Wall Street Values
  • Cited by 23
Publisher:
Cambridge University Press
Online publication date:
February 2013
Print publication year:
2012
Online ISBN:
9781139084109
DOI:
https://doi.org/10.1017/CBO9781139084109
Subjects:
Economics, Business Ethics, Finance and Accountancy, Management
Information

Book description

This timely book answers complex and perplexing questions raised by Wall Street's role in the financial crisis. What are the economic and moral connections between Wall Street and the overall economy? How did we arrive at this point in history where our most powerful financial institutions thwart rather than promote free markets, prosperity and even social cohesion? Can the fractured relationship between Wall Street and Main Street be repaired? Wall Street Values chronicles the transformation of Wall Street's business model from serving clients to proprietary trading and explains how this shift undermined the ethical foundations of the modern financial industry. Michael A. Santoro and Ronald J. Strauss argue that post-millennial Wall Street is not only 'too big to fail' but also a threat to the economy even when it succeeds.

Reviews

‘The financial crisis has been examined from every angle except this one: the ethical lapses that led up to it. Time spent reading this highly original book is time well spent. It will make you think.’

Alan Blinder - Princeton University

‘There are many fine accounts of what happened during the financial crisis, but Santoro and Strauss stand[s] out because it brings to bear a refined ethical sense to the questions raised by the crisis. This is an excellent book to foster deep thinking about what happened.’

Timothy Fort - George Washington University

‘Wall Street Values probes a crucial yet neglected topic: the role of ethics in the run-up to the financial meltdown of 2008. A must-read for all who care about the health of our financial system and America's future prosperity.’

Lynne Paine - Harvard University

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