Fault lines
ust like geological fault lines, cracks in the financial landscape run deep and mostly unseen. Fault Lines: How Hidden Fractures Still Threaten The World Economy says that if these weaknesses are not fixed, it could result in further quakes in the financial world that could be as bad as what happened in 2008.The author of this book made himself unpopular by predicting a serious financial crisis at a Federal Reserve celebratory function in 2005. He was one of the minority who spotted the trouble that lay ahead, and in a short time, he was proved right.This book is one of the many that goes into the causes and effects of the current crisis. But, it doesn't limit itself to pointing fingers at the usual suspects. The author says that an analysis of this crisis should go beyond blaming greedy bankers and individual investors.He says that in a way, the action of all parties concerned was actually a logical response to the prevailing situation and the available options. He says that the trouble had been brewing for long, with the discrepancy in the earning power of the educated and the unqualified, in the anxiety over job security, and concerns about health insurance.