Discover how the global financial plague is poised to return, and what can be done to stop it
This is not your father's financial system. Jimmy Stewart, the trustworthy, honest banker in the movie, It's a Wonderful Life, is dead. And so is his small-town bank, Bailey Savings & Loan. Instead, we're watching It's a Horrible Mess with Wall Street (aka the Vegas Strip) playing ever larger craps with our economy and our tax dollars.
This book, written by one of the world's most respected economist, describes in lively, humorous, simple, but also deadly serious terms the big con underlying the big game-the web of interconnected financial, political, and regulatory malfeasance that culminated in financial meltdown and brought us to our economic knees. But is also proposes a solution-Limited Purpose Banking, a straightforward and easily implemented plan to make Wall Street safe for Main Street.
Jimmy Stewart Is Dead will fundamentally change the way you think about the economy, financial markets, and the government-sand even if you don't agree with Kotlikoff's conclusion, you'll find his analysis of the crisis and his simple solution a true economic eye-opener.
Amazon Exclusive: Q&A with Author Lawrence Kotlikoff
"Jimmy Stewart Is Dead makes for provocative reading. We certainly have squandered much of America's business and economic strength in the pursuit of personal gain and huge if not obscene bonuses. … It might just be easier to find another Jimmy Stewart. I'd call him Mr. Smith. And I'd ask him to go to Washington."
—Philip Moeller, U.S. News & World Report
"Kotlikoff grabs us by the collar, brilliantly unveiling the truth about our financial system. With scintillating arguments, vivid examples, and terrific wit, he offers a powerful reform that stops banks from gambling and restricts them to their legitimate purpose, 'connecting borrowers to lenders and savers to investors.' This is economics at its very best: deeply insightful and powerfully useful. It will change the global debate."
—JEFFREY SACHS, Director of The Earth Institute, Quetelet Professor of Development and Health Policy, Columbia University
"Financial reform needs something simple, clear, and, most of all, effective. Read this book to get and understand the answer."
—GEORGE SHULTZ, Distinguished Fellow, the Hoover Institution, former U.S. Secretary of the Treasury, and former U.S. Secretary of State
"At last! A real financial page-turner. Kotlikoff calls out the bad actors behind the financial crisis and nails them cold. But he also tells us how to prevent it from happening again. It's called Limited Purpose Banking. Anyone can read this book—and everyone should."
—SCOTT BURNS, Financial Columnist, Universal Press Syndicate
"Jimmy Stewart Is Dead is a page-turner, as fast-paced as The Simpsons, with new insights on every page. As fun as it is, Jimmy Stewart is also deadly serious. It describes our deep financial problems and offers an amazingly simple financial fix to prevent an even worse crash. Everyone should read this book."
—GEORGE AKERLOF, Koshland Professor of Economics, University of California at Berkeley, Nobel laureate in Economics
"Kotlikoff's book makes an impassioned, coherent, and convincing case for Limited Purpose Banking."
—ROBERT E. LUCAS, Jr., John Dewey Distinguished Professor of Economics, University of Chicago, Nobel laureate in Economics
"This book is 'must' reading for everyone who cares about the future of the American economy."?
—ROBERT W. FOGEL, Walgreen Distinguished Service Professor, University of Chicago, Nobel laureate in Economics
"Kotlikoff is right. Unless we institute fundamental reforms, there will be an even greater crisis. This well-written book is a must-read for those concerned with reforming the financial system."
—EDWARD C. PRESCOTT, W. P. Carey Chair in Economics, Arizona State University, Nobel laureate in Economics
"Certainly we need to abandon today's hazardous financial system. Kotlikoff's Limited Purpose Banking plan is one of the best visions to surface so far."
—EDMUND PHELPS, McVickar Professor of Political Economy, Columbia University, Nobel laureate in Economics
The point of Kotlikoff's title ('Jimmy Stewart is Dead') is to emphasize that the honest, trustworthy banker (George Bailey) played by Jimmy Stewart in the movie "It's A Wonderful... Read morePublished on August 9, 2011 by Loyd E. Eskildson
There's no use pining for the good old days - "It's a Wonderful Life" was just a Hollywood movie, the town of Bedford Falls doesn't really exist and Jimmy Stewart is long gone. Read morePublished on March 23, 2011 by Rolf Dobelli
The author has an ability to transmit knowledge very efficiently. This is useful financial knowledge that anyone living in America need to have today. Read morePublished on October 10, 2010 by Joseph Nowoslawski
The author of this book is correct that massive Wall Street speculation,based on debt leverage using borrowed money obtained from the private commercial banking system,is the cause... Read morePublished on September 20, 2010 by Michael Emmett Brady
Now that everyone and his brother has written a book about the Great Recession, and now that the initial financial regulation bill ("fin reg") has passed, here are a few things... Read morePublished on August 11, 2010 by a reader
Laurence Kotlikoff has something interesting to say, but he doesn't know how to say it. His idea is that most financial firms should become limited purpose banks, which would... Read morePublished on August 9, 2010 by Hal Jordan
Author-economist Laurence J. Kotlikoff has concerned himself with the state of the world's fragile, debt-laden economies for many years. Read morePublished on July 5, 2010 by Hazel Henderson
I loved the author's _The Coming Generational Storm_, so I was really looking forward to reading this. I was sadly disappointed. Read morePublished on June 24, 2010 by Alberto Dominguez
Boston University economics professor Laurence Kotlikoff (NBER associate) has been presenting a very compelling reform proposal (first in the FT Economists Forum, and now in this... Read morePublished on April 28, 2010 by Rudi Schadt