THE BANKERS

THE NEXT GENERATION

Much has happened to America's depository institutions in the more than two decades since Mayer wrote The Bankers, and his elegant update provides an informed guide to the convulsive change that has brought a remote, buttoned-down profession into the rowdy, high-tech world of financial services. Before assessing the past, present, and future of banking, the author assesses the nature of money, a demanding task that nonetheless permits him to examine the role commercial banks play in the way debts were, are, and could be paid. Moving on to ATMs, so-called smart cards, and the Internet's boundless potential, he documents why even multinational banks have good reason to fear problem-solving enterprises like Microsoft that have been poaching on their hitherto protected precincts. Mayer next evaluates the decline of bank lending, a drop that occurred despite mergers which have created regional and national powerhouses. He also offers an astute appreciation of the concurrent trend to gamble in futures trading, a high-stakes zero-sum game in which risky derivative instruments are trumps. Having reviewed the sudden death of the UK's venerable Barings Bank (to date, the highest profile casualty of casino capitalism), the author casts a cold eye on the S&L disaster in America. From this sore subject, he segues gracefully into a detailed appraisal of the many agencies that regulate the domestic banking industry in one way or another. In a concluding chapter, Mayer ventures provocative opinions on the successful efforts of the Federal Reserve System (which has a vested interest in sorting checks) to stymie private-sector rivals eager to establish a utility-like clearinghouse system that would offer universal access (at reasonable rates) to individuals and entities needing to transfer money in or out of the country. Engrossing and perceptive perspectives on developments that could signal the twilight of traditional over-the-counter banking.

Pub Date: Jan. 13, 1997

ISBN: 0-525-93865-6

Page Count: 528

Publisher: Dutton

Review Posted Online: May 20, 2010

Kirkus Reviews Issue: Nov. 1, 1996

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Striking research showing the immense complexity of ordinary thought and revealing the identities of the gatekeepers in our...

THINKING, FAST AND SLOW

A psychologist and Nobel Prize winner summarizes and synthesizes the recent decades of research on intuition and systematic thinking.

The author of several scholarly texts, Kahneman (Emeritus Psychology and Public Affairs/Princeton Univ.) now offers general readers not just the findings of psychological research but also a better understanding of how research questions arise and how scholars systematically frame and answer them. He begins with the distinction between System 1 and System 2 mental operations, the former referring to quick, automatic thought, the latter to more effortful, overt thinking. We rely heavily, writes, on System 1, resorting to the higher-energy System 2 only when we need or want to. Kahneman continually refers to System 2 as “lazy”: We don’t want to think rigorously about something. The author then explores the nuances of our two-system minds, showing how they perform in various situations. Psychological experiments have repeatedly revealed that our intuitions are generally wrong, that our assessments are based on biases and that our System 1 hates doubt and despises ambiguity. Kahneman largely avoids jargon; when he does use some (“heuristics,” for example), he argues that such terms really ought to join our everyday vocabulary. He reviews many fundamental concepts in psychology and statistics (regression to the mean, the narrative fallacy, the optimistic bias), showing how they relate to his overall concerns about how we think and why we make the decisions that we do. Some of the later chapters (dealing with risk-taking and statistics and probabilities) are denser than others (some readers may resent such demands on System 2!), but the passages that deal with the economic and political implications of the research are gripping.

Striking research showing the immense complexity of ordinary thought and revealing the identities of the gatekeepers in our minds.

Pub Date: Nov. 1, 2011

ISBN: 978-0-374-27563-1

Page Count: 512

Publisher: Farrar, Straus and Giroux

Review Posted Online: Sept. 4, 2011

Kirkus Reviews Issue: Sept. 15, 2011

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A timely, vividly realized reminder to slow down and harness the restorative wonders of serenity.

STILLNESS IS THE KEY

An exploration of the importance of clarity through calmness in an increasingly fast-paced world.

Austin-based speaker and strategist Holiday (Conspiracy: Peter Thiel, Hulk Hogan, Gawker, and the Anatomy of Intrigue, 2018, etc.) believes in downshifting one’s life and activities in order to fully grasp the wonder of stillness. He bolsters this theory with a wide array of perspectives—some based on ancient wisdom (one of the author’s specialties), others more modern—all with the intent to direct readers toward the essential importance of stillness and its “attainable path to enlightenment and excellence, greatness and happiness, performance as well as presence.” Readers will be encouraged by Holiday’s insistence that his methods are within anyone’s grasp. He acknowledges that this rare and coveted calm is already inside each of us, but it’s been worn down by the hustle of busy lives and distractions. Recognizing that this goal requires immense personal discipline, the author draws on the representational histories of John F. Kennedy, Buddha, Tiger Woods, Fred Rogers, Leonardo da Vinci, and many other creative thinkers and scholarly, scientific texts. These examples demonstrate how others have evolved past the noise of modern life and into the solitude of productive thought and cleansing tranquility. Holiday splits his accessible, empowering, and sporadically meandering narrative into a three-part “timeless trinity of mind, body, soul—the head, the heart, the human body.” He juxtaposes Stoic philosopher Seneca’s internal reflection and wisdom against Donald Trump’s egocentric existence, with much of his time spent “in his bathrobe, ranting about the news.” Holiday stresses that while contemporary life is filled with a dizzying variety of “competing priorities and beliefs,” the frenzy can be quelled and serenity maintained through a deliberative calming of the mind and body. The author shows how “stillness is what aims the arrow,” fostering focus, internal harmony, and the kind of holistic self-examination necessary for optimal contentment and mind-body centeredness. Throughout the narrative, he promotes that concept mindfully and convincingly.

A timely, vividly realized reminder to slow down and harness the restorative wonders of serenity.

Pub Date: Oct. 1, 2019

ISBN: 978-0-525-53858-5

Page Count: 288

Publisher: Portfolio

Review Posted Online: July 21, 2019

Kirkus Reviews Issue: Aug. 15, 2019

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