Nomi Prins is an American author, journalist, and public speaker who writes about Wall Street and the US economy. Her books:
Prins worked as a managing director at Goldman Sachs for 2 years and as a senior managing director at Bear Stearns for seven years, and was a senior strategist at Lehman Brothers and an analyst at the Chase Manhattan Bank. She was Distinguished Senior Fellow at Demos think tank from 2002 to 2016. Prins is known for her book All the Presidents’ Bankers, in which she explores over a century of close relationships between the 19 presidents from Teddy Roosevelt through Barack Obama and the key bankers of their day, based on archival documents. Prins also received recognition for her whistleblower book, It Takes a Pillage: Behind the Bonuses, Bailouts, and Backroom Deals from Washington to Wall Street, for her views on the U.S. economy, for her published spending figures on federal programs and initiatives related to the 2008 bailout, and for her advocacy for the reinstatement of the Glass–Steagall Act and regulatory reform of the financial industry. She was also a member of Senator Bernie Sanders’ panel of top economic experts to advise on Federal Reserve reform.
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In 2006, Peter Schiff authored a book titled Crash Proof: How to Profit From the Coming Economic Collapse, which was published in February 2007 by Wiley. The book describes various features of the economy and housing market that led to the United States housing bubble, and warns of the impending decline. After many of the predictions came to pass, a second edition titled Crash Proof 2.0 was published in 2009, which included a “2009 update” addendum at the end of each chapter. It was featured on The New York Times Best Seller list.
Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and the Government Bailout Will Make Things Worse, by Thomas Woods, was published in February 2009 by Regnery Publishing. It was featured on The New York Times Best Seller list for 10 weeks
A 2010 documentary film, Overdose: A Film about the Next Financial Crisis, describes how the financial crisis came about and how the solutions that have been applied by many governments are setting the stage for the next crisis. The film is based on the book Financial Fiasco by Johan Norberg and features Alan Greenspan, with funding from the libertarian think tank Cato Institute.
In October 2010, a documentary film about the crisis, Inside Job directed by Charles Ferguson, was released by Sony Pictures Classics. In 2011, it was awarded the Academy Award for Best Documentary Feature at the 83rd Academy Awards.
Michael Lewis authored a best-selling non-fiction book about the crisis, entitled The Big Short. In 2015, it was adapted into a film of the same name, which won the Academy Award for Best Adapted Screenplay. One point raised is to what extent those outside of the markets themselves (i.e., not working for a mainstream investment bank) could forecast the events and be generally less myopic.
Set on the night before the crisis broke, Margin Call is a movie that follows traders through a sleepless 24 hours as they try to contain the damage after an analyst discovers information that is likely to ruin their firm, and possibly the whole economy.
The 2011 film Too Big to Fail is based on Andrew Ross Sorkin’s 2009 non-fiction book Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System—and Themselves.
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The Northern Securities Company was a short-lived American railroad trust formed in 1901 by E. H. Harriman, James J. Hill, J.P. Morgan and their associates. The company controlled the Northern Pacific Railway; Great Northern Railway; Chicago, Burlington and Quincy Railroad; and other associated lines. It was capitalized at $400 million, and Hill served as president.
The company was sued in 1902 under the Sherman Antitrust Act of 1890 by the Justice Department under President Theodore Roosevelt, one of the first antitrust cases filed against corporate interests instead of labor. The government won its case, and the company was dissolved, so that the three railroads again operated independently.
Hill was the president of the Great Northern Railway and Harriman controlled the Union Pacific Railroad, two of the largest railroads in the U.S. Both sought control of the Burlington to connect their roads to the vital railroad hub of Chicago, Illinois. Hill, who also had a minority interest in the Northern Pacific Railway, outbid Harriman for the Burlington, by agreeing to Burlington President Charles Elliott Perkins’s $200-a-share price.
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