Download Liquidated: An Ethnography of Wall Street AudioBook Free
Financial collapses - whether of the rubbish bond market, the web bubble, or the highly leveraged enclosure market-are often explained as the inevitable result of market cycles: What goes up must come down. In Liquidated, Karen Ho punctures the aura of the abstract, all-powerful market to show how financial market segments, and especially booms and busts, are created. Via an in-depth investigation into the everyday experiences and ideologies of Wall membrane Streets investment bankers, Ho represents how a fiscally prominent but highly unstable market system is understood, justified, and produced through the restructuring of companies and the bigger economy. Ho argues that bankers' approaches to financial market segments and corporate America are inseparable from the structures and strategies of their workplaces. Recruited from elite colleges as "the best and the brightest," investment bankers are socialized into an environment of risky and high praise. They are paid handsomely, with the understanding that they may be let go at any time. Their mission is the creation of shareholder value, but Ho demonstrates that their techniques and assumptions often produce crises instead. By attaching the prices and activities of investment bankers to the building of market segments and the restructuring of U.S. companies, Liquidated reveals the particular culture of Wall membrane Streets often obscured by triumphalist readings of capitalist globalization.
