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Shock Exchange: How Inner-City Kids From Brooklyn Predicted the Great Recession and the Pain Ahead Paperback – December 12, 2012
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As wall street spiraled out of control ... many people simply stated that people saw this coming. Shock Exchange: How Inner-City Kids From Brooklyn Predicted the Great Recession and the Pain Ahead discusses how there were many who saw the 2008 Financial calamity in the distance, and how author Ralph Baker and his associates knew it was coming ... and how their message was only heard by deaf ears. An enticing look at the warning signs of crisis, Shock Exchange is a must for collections looking for memoirs focusing on the financial world. --Midwest Book Review --Midwest Book Review, April 2013
- Ken Townsend, Elliott Professor of Economics, Hampden-Sydney College
I enjoyed Shock Exchange very much. Ralph Baker explained the financial crisis well and with a very logical flow. It is amazing when you read a book on a subject that you have a working knowledge of and you can pick up small details from the writer’s point of view. I thank Baker for allowing his writing to merge with my thoughts. Shock Exchange could be a good source for supplemental material in lower division college finance or economics classes. -- Raymar Rodriguez, Adjunct Professor Miami Dade College --- March, 2014
Baker shares insights into why understanding investing and the stock market is important for parents to emphasize sooner than later; how he connected investing/saving to basketball through the team, and financial advice for teens transitioning to college. The stories about his family and growing up are both humorous and insightful. And he tells it like he sees it when it comes to the ins and outs, ups and downs, do-gooders and no good-doers in the financial industry and how all of these affect you and me. --- The Positive Community, April 2014
Shock Exchange presents an important opportunity for readers, especially those from urban and inner-city backgrounds, to understand the economy in simpler terms. The book is also great for college students, as Baker focuses on how to advise teens transitioning to college, since many of the Shock Exchange members recently began their freshmen year. --- Maurika Smutherman, The News Argus, March 2014
"A good piece of work" - National Book Awards
About the Author
Top Customer Reviews
Having been educated within the New York City school system, and living in the NY City metropolitan area all my life, I’ve seen education go from being equal throughout the system, in my opinion, to where inner city youth have become more and more forgotten about.
Reading the synopsis for this book, it had piqued my curiosity, and I want to learn more about program created by the author; which is why I’d entered the giveaway being offered by author.
As I read the book, I found it to be less and less to be about the program the author had created in an inner city area of Brooklyn, NY; and more and more like a wonderful, revealing memoir about an Afro-American who had been born in the rural town of Farmville, Virginia. The author writes about all the events in life which lead him to become a successful, internationally-known Wall Street individual. Given the history of this financial world, this achievement should be deemed remarkable.
Instead of writing about the “Shock Exchange,” its creation, history and successes, the author has instead told us about his childhood, education, and historical financial events which had transpired around him through the years, as well as those he’d been part of.
Apparently this author wants to shun the spotlight on himself, which is why I feel a much better title for this book would have been, “From Farmville to Wall Street – An Afro-American Male Experience.”
In the end I’m giving Mr. Baker and this book 5 STARS.
The author provides great detail surrounding some of the events of what today is known as the financial crisis (circa 2008-2011). I especially enjoyed how he related the story of Joseph Jett walking out of his apartment to face the press and the press ignoring him since they were not expecting a black man to be the focus of the trading fraud allegation.
Throughout the book, I was expecting to hear more about how the inner-city kids were able to predict the crisis ahead though I'm not sure I ever identified it. The book's autobiographical emphasis tends to take the reader away from the ostensibly main topic, which is the Great Recession and the pain ahead. In the Afterword, the author describes his purpose in writing the book and it becomes more clear why he included a large autobiography. I would suggest that there is content for two books within this one.
As an author of a book (E$caping Oz: Navigating the crisis) covering this topic, Mr. Baker reaches many of my own conclusions on the crisis and what lies ahead. The blending of sports and financial literacy through his organization (New York Shock Exchange) is a great combination for which he is to be commended. The kids and adults in his program should laud Mr. Baker for his efforts. It will be important in the years ahead to have this sort of literacy as politics and economics clash.