In 1997 it seemed that things in the City could only get better. The incoming Labour government gave the Bank of England independence. For ten years everything went according to plan. And then in the summer of 2007 everything began to collapse. This book tells the story of how a major economy tried to reinvent itself.
Early in the new millennium, the investment banks were on their knees. They are able to act simultaneously for buyers, sellers and themselves, and generate huge returns. This book explains how this transfer of wealth occurs, and answers questions such as: do the investment banks add value through their advice? Is there a cartel? and more.