And the Money Kept Rolling in (And Out): Wall Street, the Imf, And the Bankrupting of Argentina
by Paul Blustein

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Book Reviews of And the Money Kept Rolling in (And Out): Wall Street, the Imf, And the Bankrupting of Argentina

Book Review: great book! a page turner!!!
Summary: 5 Stars

Summary of And the Money Kept Rolling in (And Out): Wall Street, the Imf, And the Bankrupting of Argentina

While policy wonks at the International Monetary Fund had much to do with Argentina's implosion, Blustein also holds the country's own government responsible. Conventional wisdom says that the influence of the world's investors keeps everyone in line--a key tenet of the pro-globalization argument--but in practice, Blustein writes, "foreign funds numbed Argentine policymakers into minimizing the perils of their policies. The effect was similar to a dose of steroids, giving the economy a short-term boost while insidiously increasing the risk of a breakdown in the long run." From that point on, only devastation lay ahead for many average Argentineans, who could no longer remove savings from their banks, and for international investors, who saw their returns vanish in a flash. Blustein effectively makes the case that Argentina wasn't a rare example or a perfect storm of problems, but--bearing "striking parallels" to Enron and other financial scandals of the era--a preview of more meltdowns to come. It's a compelling cautionary tale well worth telling. --Jennifer Buckendorff

Argentina Books

• History > Americas > South America
• Professional & Technical > Accounting & Finance > International > Finance > Finance & Investing