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A Decade of Armageddon: The New Geography Essays
An as-it-happened deep dive into the causes, consequences, and repercussions of the 2008 Global Financial Crisis. More than a history lesson – it’s a look into the future.
These essays by Dr Susanne Trimbath, were first published between 2008 and 2015 on newgeography.com. They have been edited to be read as a free-standing publication, grouped together into the following chapters:
- Bailouts
- Congressional Hearings and Legislation
- Homeowners and Mortgages
- Federal Reserve and Treasury Actions
- Bank/Broker Behavior
- Systemic Issues
- Public Reaction
“My wish is that I have opened your eyes to the false utopia being offered by Wall Street and the businesses and governments they support.” - Dr Susanne Trimbath
"“These essays are a critical element in the continuing discussion of inequality and the growing power of a small financial elite” - Joel Kotkin, editor of NewGeography.com
The hardback is a limited edition of 100 copies, signed by the author. Every copy sold will include a US$5 donation to the Diane Fossey Foundation
Naked, Short and Greedy: Wall Street's Failure to Deliver
A sobering account of naked short selling, the failure to settle, and the efforts over decades, trying to get this fixed. Twenty-five years ago, Trimbath was working “backstage at Wall Street” when a group of corporate trust specialists told her about a problem in shareholder voting rights. When she went to senior management at Depository Trust Company (DTC), then and still the largest securities depository in the world, they brushed it off saying, “You can’t balance the world.” Ten years later, while working as a research economist in California, a lawyer from Texas would tell her that the same problem was about to blow up the financial markets: Wall Street brokers are using short sales and fails to deliver to grab the assets of American entrepreneurs. This is a cautionary tale told by a serious researcher. What started as a regulatory failure turned into a regulatory crisis. Shareholder democracy is in shambles. The institutions that were established to correct a problem of trade settlement failures have instead exacerbated the problem. Global financial markets may not survive what comes next.