13 Bankers

In "13 Bankers," economists Simon Johnson and James Kwak explore the aftermath of the 2008 financial crisis, highlighting the overwhelming influence of an oligarchy led by six megabanks that control over 60 percent of the U.S. gross domestic product. They detail the troubling history of American finance and its threats to democracy, discussing the perils of an unregulated financial sector that profits during prosperous times while shifting its losses onto taxpayers during downturns. The authors advocate for significant reforms to reshape the banking system, proposing that the megabanks be made "small enough to fail" to ensure a healthier economic balance.