FORA Economy

Season 2008 Episode 1106

David Smick: The World is Curved

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Episode Summary

David Smick: The World is Curved
Why did a relatively minor problem in the U.S. subprime mortgage market nearly collapse the entire global financial system?David Smick says that the Great Credit Crunch of 2007-08 exposed a thicket of hidden problems that now threaten every American.In The World Is Curved, Smick describes how today's risky environment came to be -- and why the mortgage mess is a symptom of future trouble.His book picks up where Thomas Friedman's The World Is Flat left off, taking readers from Alan Greenspan's breakfast nook and George Soros's secret strategy sessions to the offices of central bankers, finance ministers, and politicians.Smick explains today's new world of international money and connects seemingly unrelated topics. He reveals why Tony Soprano matters to China, how Japanese housewives have taken control of their nation's capital flows, and how big money sovereign wealth funds from China, Russia, Saudi Arabia, and Dubai are the new evil we can neither live with nor without.Smick shows how we can prevent a nightmare scenario that would make recent turbulence in our 401(k)s and home prices look like a garden party - World Affairs Council of Washington, D.C.moreless
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Trivia, Notes, Quotes and Allusions

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