Former Goldman Sachs investment banker John Talbott shares with us the 86 biggest lies from wall street and sheds some light onto some of the possible causes of the current economic crisis. His book claims that the American economy was never as strong and robust as it was made out to be. That GDP growth over the past ten or so years has been mainly due to population growth and the fact that many spouses have now entered the workforce rather than through good management. He uncovers the truth that the powers moving America are from the corporate world rather than government departments while re-stating that fact that you can’t remove the politics from economics. He also debunks the myth that if a little money is good, a lot is better finding that after reaching an annual income of $10,000 PA, families happiness seems to dip rather than rise. This book was reviewed on Radio 2GB. The podcast of the broadcast can be found by clicking here.

Talbott’s look at the global banking system makes for a good if pessimistic overview of the current financial crisis leaving us all wondering if we should invest in a good mattress in which to stuff our cash!