The decade which began in July 1997 saw a global financial system that generated more wealth for more people for a much longer period of time than any other in financial history.
But ten years later, in a seemingly sudden move, there was a flight of capital and a collapse of the global banking system. What went wrong? Did anyone see it coming? What lessons can we learn from this?
And is it really all that bad?
Fooled Again is not a history book, but it looks at the history of recent financial management, mismanagement, extraordinary risk and greed, flows of global capital and international toxic balance sheets to identity the key lessons to be learned from the global financial crisis.
Taking a considered and long-term view, Meyrick Chapman gives an immensely readable and insightful view of what really happened and shows us why not all crises are bad, and why the events of 2008 and 2009 may ultimately benefit us.