The Battle for the Soul of Capitalism

As an astute observer and commentator, he knows that a trustworthy business and financial complex is essential to America’s continuing leadership in the world and to social and economic progress at home.This book tells not just a story about what went wrong but, more important, the story of why we lost our way and of how we can right our course. There is no one better qualified to tell us about the failures of the American financial system and the grotesque abuses that have taken place in recent years than John Bogle, who as founder and former chief executive of the Vanguard mutual funds group has seen firsthand the innermost workings of the financial industry. A zealous advocate for the small investor for more than fifty years, Bogle has championed the restoration of integrity in industry practices. Given that ownership is now consolidated in the hands of relatively few large mutual and pension funds, the specific reforms Bogle details in this book are essential as well as practical. Bogle argues for a return to a governance structure in which owners’ capital that has been put at risk is used in their interests rather than in the interests of corporate and financial managers. Every investor, analyst, Wall-Streeter, policy maker, and businessperson should read this deeply

An excellent examination of Cronyism and De Facto White Collar Theft in the Financial Sectors (with Solutions!!) Bogle, in his book, makes an excellent case that shareholders and investors in the financial sector have been taken for a ride by those in positions of fiduciary responsibility (i.e., primarily high level corporate officers and fund managers). Bogle separates his book into four sections, one examining shenanigans at the individual corporate le. The case for index investing Barbara newman This book is worth your time. It outlines how there have been philosophical changes in American Business in the last 50 years at the corporate, investor, and mutual fund levels. Owners of business and investors in mutual funds have less control over their outcome and the managers have more control. The central thesis of the book is that the ma. Robert David STEELE Vivas said Nobel Prize Material--Final Review. This book is a work of genius and integrity, with the potential to catalyze Wall Street into fulfilling the promise of moral capitalism and community ownership.Here are some highlights from my flyleaf notes:+ America is no longer an ownership society--financial intermediaries "own" everyting and the individual owners are passive+ We can find t

He advances in all seriousness Warren Buffett's once-joking idea for a high tax on short-term trading gains and calls for a federal commission to examine the way pension funds are managed, as well as the state of our retirement systems in general. . While other recent books, such as David Swensen's Unconventional Success: A Fundamental Approach to Personal Investment, marry similar criticisms with more advice for individual investors, Bogle—a rock-ribbed Republican businessman—still deserves attention in the precincts of power. To remedy such problems, Bogle writes, mutual fund owners and their fiduciaries must exercise the corporate responsibility they now shirk, and fund boards must be reshaped to serve the interests of shareholders. Mutual fund companies, Bogle charges, care more about short-term results than long-term value, and many of them gain profits for larger parent corporations by charging in