CDOs, interest rates, GDP, building societies, the subprime crisis, hedge funds, equity - the world of money is a complicated place. Fortunately, Philip Coogan is here to help with this succinct and wonderfully basic, yet detailed, account of what happens in the City of London. Just as importantly it shows how the money markets affect us all - and why.
He explains why money is so important and that it’s more than just coins or notes: first, it is a measure of value (the amount you pay for something can be easily compared to something else); secondly, it is a store of value (it can be saved until needed); and, lastly, it is a means of exchange (it’s how we pay for things).
There are many books about finance - and especially the 2008-9 crisis, but this is an excellent introduction to the subject as a whole.