Moe Tkacik’s “Journals of the Crisis Year” is now live at The Baffler‘s website. Tkacik considers a baker’s dozen books about (and/or by players in) the Recent Financial Crisis.
“From time immemorial,” Tett explains, “the worlds of business and finance have been beset with the problem of default risk, the danger that a borrower will not repay a loan or bond.” This is frustrating to read if you think of this lingering “problem” as a bank’s fundamental reason for being.
This is a long piece that demands and deserves your full attention. It will make you aware of things that you ought to be aware of. Also, while we’re at it–Holy Shit! The Baffler! I always thought of them as that small, weird journal whose publication schedule never made sense to me, but thanks to Moe’s piece I’m now looking at their front page and am thoroughly thrilled. Matt Taibbi, Christine Smallwood, Walter Benn Michaels. And I guess if/when the actual issue comes out (is out?) there’s also Naomi Klein and Lydia Millet in the paper version.