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Product Details

  • Paperback: 342 pages
  • Publisher: New Press, The (August 1, 2006)
  • Language: English
  • ISBN-10: 1595580638
  • ISBN-13: 978-1595580634
  • Product Dimensions: 8.2 x 5.5 x 1 inches
  • Shipping Weight: 15.2 ounces
  • Average Customer Review: 3.6 out of 5 stars  See all reviews (10 customer reviews)
  • Amazon Best Sellers Rank: #771,777 in Books (See Top 100 in Books)

Editorial Reviews

Review

A giddy romp through the old-boy networks and unending power plays of Wall Street, Corporate America, and Capitol Hill. -- Barron's

A great crime story in which the culprits get away with larceny on an epic scale. -- William Greider

Exceedingly well-documented [and] fascinating. -- Library Journal

The most revealing description yet of what it is like to work for the mighty Goldman Sachs. -- The Economist

About the Author

Nomi Prins has worked at Goldman Sachs, Bear Stearns, Lehman Brothers, and Chase. She has written for the New York Times, Newsday, Fortune, and The Guardian and appeared on numerous international media programs. She is a senior fellow with the public policy center Demos and lives in New York City.

More About the Author

Nomi Prins is a renowned author, journalist and speaker. Her new book, All the Presidents' Bankers: The Hidden Alliances that Drive American Power, will be out April 8, 2014. Her last book, Black Tuesday, was a historical novel about the 1929 crash. Before that, she wrote the hard-hitting book, It Takes a Pillage: Behind the Bonuses, Bailouts, and Backroom Deals from Washington to Wall Street. She is also the author of Other People's Money: The Corporate Mugging of America, which predicted the current financial crisis, and was chosen as a Best Book of 2004 by The Economist, Barron's and The Library Journal, and Jacked: How "Conservatives" are Picking your Pocket (whether you voted for them or not.)

She has been a featured commentator on numerous national and international TV programs including for: BBC World, RtTV, CNN, CNBC, MSNBC, CSPAN, Democracy Now, Fox and PBS. She has been featured on hundreds of radio shows globally including for CNNRadio, Marketplace, NPR, BBC, and Canadian Programming. She has been featured in numerous documentaries produced by companies from the US, Norway, France, Germany and other places, alongside other prominent thought-leaders, and Nobel Prize winners, including most recently, The Big Fix, Heist, and Plunder.

Her writing has been featured in The New York Times, Fortune, Newsday, Mother Jones, The Daily Beast, Newsweek, Slate, The Guardian UK, The Nation, Alternet, LaVanguardia, and other publications.

Her website is http://www.nomiprins.com

Customer Reviews

3.6 out of 5 stars
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Most Helpful Customer Reviews

40 of 48 people found the following review helpful By J. Ludwig on September 28, 2004
Format: Hardcover
Other People's Money is a suspenseful, smart, compulsively readable account of the outrageous deceptions and monumental malfeasance of a number of high-flying corporations and the ego-driven executives who brought them to ruin ... along with the pensions, jobs and lives of thousands of American workers. Scarier still, the author convincingly argues that the reforms designed to prevent a recurrence of these scandalous doings are hopelessly inadequate to the task.

Written by a Wall Street insider (who happens to be -- surprise! surprise! -- a terrific writer), this gripping book teases apart the tangled relationships among corporations, Wall Street and government regulators. Despite the fact that it's exceedingly thorough and well documented, the book is never dull or dry. The author's passion and wit come through on every page.

Other People's Money is a "must-read" book ... and the sooner the better. It should absolutely be read by November 2!
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16 of 18 people found the following review helpful By S. T. Sullivan on January 31, 2008
Format: Paperback Verified Purchase
This is a good skewering of the financial world from a woman who was a part of it (Prins is a former director at legendary Goldman Sachs, and, last time I checked, now works for a progressive think tank). My politics aren't nearly as economically left wing as Prins. I tend to think high finance is generally a good thing, but now, especially with the implosion of the of the housing market, takign a hard look at the way this money is made is important.

In this book, Prins focuses on what happened after the deregulation of the energy markets, and how that helped people like Enron do the nasty things they did. The book is a little simplistic in its rendering of good guys and bad guys, but at the end of the day, it is nice to see a left wing critque of wall street done in such a smart way.
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27 of 33 people found the following review helpful By Michael Deibert on October 30, 2004
Format: Hardcover
What great journalism is supposed to do, challenge the powerful and succinctly, clear lay out complex issues to explain the motivations at their core. This book is essential reading for anyone who wants to see how the free market system has been overrun by charlatans and criminals whose hands were held by government and who all the while claimed to be its champions.
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4 of 4 people found the following review helpful By Dirk J. Willard on March 14, 2010
Format: Paperback Verified Purchase
First of all, this book is extremely well-written, easy to follow and learn from.

Second, your politics shouldn't make any difference. Although the author is a "progressive" or liberal, her journalism is immaculate, and I say this as a part-time, free-lance editor. I can substantiate her references on Enron from the likes of Kurt Eichenwald, "Conspiracy of Fools." I also reviewed this book. All I can say about any political message, referring to other reviewers, is that if you don't see the value of this book then you're probably part of the runaway corruption rotting away at America. Just go away -- please!

Ms. Prins can speak volumes of her experience at Goldman Sachs. And, what she has to say should be heard. She reviews of the unraveling of Glass-Steagall and other protections, the greed and corruption of corporations and banking --- and mind you, that was back in 2004:

"Gary Winnick of Global Crossing said he'd give back $25 million to help his workers, who lost $275 million and of whom 9,000 were laid off."

"In the real world, when someone steals a TV, returning the antennae doesn't get him off the hook, but in the world of corporate executive cash-outs, it seems as if an expression of remorse on the Senate floor is all it takes."

The author, if she has an agenda, it is for regulation improvements that have a possibility of curbing the corruption:

"Corporations need independent boards of directors --- ones with no intertwined client relationships, no ex-government officials on boards of companies that directly benefit from their legislation. Corporate boards should include public seats as well as consumer groups." (Why not, our 401Ks pay for the lavish benefits to these corporate officials?)
Ms.
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3 of 3 people found the following review helpful By Ladd Morgan on August 28, 2010
Format: Hardcover Verified Purchase
In response to J. Ludwig -- "who happens to be -- surprise! surprise! -- a terrific writer" -- this book is not well written at all. As another reviewer has pointed out, it is in need of serious editing. This became obvious to me in the first few pages of the introduction. I found myself reading and re-reading the same sentence several times before finally realizing it really made no sense, though a limited financial vocabulary might lead you to second-guess yourself. Here are some examples early in the book:

"This doesn't mean that the class-action lawsuits filed on behalf of groups of investors against Enron, WorldCom, and other similar companies are not without merit. They absolutely are." (p. 36) Ok, let's review: doesn't mean...not without...absolutely are. So the conclusion is actually that the lawsuits have NO merit!

"It's a similar situation in the debt capital markets, in which corporations lend money to bond issuers and institutional investors, who buy those bonds in exchange for receiving interest over a number of years" (p. 30) First of all, "THOSE bonds"? Which bonds? The corporations are making loans to bond issuers AND institutional investors...I thought the corporations were the bond issuers??

Not only is Nomi not an entirely coherent writer, she is also not at all original--neither in style/idiom nor perspective. A typical left-leaning corporate critique you will read anywhere. The only unique value her book provides is the insider take on top ibanks that she leads off with (the Goldman christmas party). Unfortunately this is a minor component of the book.

And you needn't read any farther than the preface to get a sense for her perspective: "As an activist in London, I protested against the WTO...Shell...
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