Main menu:

History of RPE Thought

Posts by Tag

RSS New from the CCPA

  • 2019 Federal Budget Analysis February 27, 2019
    Watch this space for response and analysis of the federal budget from CCPA staff and our Alternative Federal Budget partners. More information will be added as it is available. Commentary and Analysis  Aim high, spend low: Federal budget 2019 by David MacDonald (CCPA) Budget 2019 fiddles while climate crisis looms by Hadrian Mertins-Kirkwood (CCPA) Organizational Responses Canadian Centre for Policy […]
    Canadian Centre for Policy Alternatives
  • Boots Riley in Winnipeg May 11 February 22, 2019
    Founder of the political Hip-Hop group The Coup, Boots Riley is a musician, rapper, writer and activist, whose feature film directorial and screenwriting debut — 2018’s celebrated Sorry to Bother You — received the award for Best First Feature at the 2019 Independent Spirit Awards (amongst several other accolades and recognitions). "[A] reflection of the […]
    Canadian Centre for Policy Alternatives
  • CCPA-BC welcomes Emira Mears as new Associate Director February 11, 2019
    This week the Canadian Centre for Policy Alternatives – BC Office is pleased to welcome Emira Mears to our staff team as our newly appointed Associate Director. Emira is an accomplished communications professional, digital strategist and entrepreneur. Through her former company Raised Eyebrow, she has had the opportunity to work with many organizations in the […]
    Canadian Centre for Policy Alternatives
  • Study explores media coverage of pipeline controversies December 14, 2018
    Supporters of fossil fuel infrastructure projects position themselves as friends of working people, framing climate action as antithetical to the more immediately pressing need to protect oil and gas workers’ livelihoods. And as the latest report from the CCPA-BC and Corporate Mapping Project confirms, this framing has become dominant across the media landscape. Focusing on pipeline […]
    Canadian Centre for Policy Alternatives
  • Study highlights ‘uncomfortable truth’ about racism in the job market December 12, 2018
    "Racialized workers in Ontario are significantly more likely to be concentrated in low-wage jobs and face persistent unemployment and earnings gaps compared to white employees — pointing to the “uncomfortable truth” about racism in the job market, according to a new study." Read the Toronto Star's coverage of our updated colour-coded labour market report, released […]
    Canadian Centre for Policy Alternatives
Progressive Bloggers


Recent Blog Posts

Posts by Author

Recent Blog Comments

The Progressive Economics Forum

Other People’s Money

“Other People’s Money” by Justin Cartwright (Bloomsbury, 2011) is to the novel what the wonderful “Margin Call” is to film – a fictionalized but convincing account of high finance and the crisis of 2008. In this case, the central characters are the old money family owners of a private London investment bank which has incurred huge losses on an in house hedge fund. They try to cook the books through fraudulent additions to the capital base from various family and charitable trust, while arranging a secret sale to a Wall Street bank. 

Cartwright only sketches the financial shenanigans, but deftly describes what he calls “the traditional arrogance and contempt of the high altitude financial classses for ordinary people” (p.226)

“The family, for all their taste and sophistication, never speak to their souls. They have taste, but cannot make art. They have style, but they don’t have love. They have wealth, but wealth has isolated them.” (p.222)

A convincing account of the personality type behind the financial debacle, and a great holiday read.

Enjoy and share:


Comment from JRC
Time: December 22, 2011, 11:23 am

Thank you for the recommendation. I will definitely take a closer look at “Other People’s Money”…the title, itself, says a lot, doesn’t it? However, my question for you is whether the movie ‘Margin Call’ could really be called ‘wonderful’. The New York Times seems to agree with you. They described the film as “an extraordinary feat of filmmaking” in an October 20th, 2011 article entitled “Number Crunching at the Apocalypse” by A.O. Scott . However, despite the fact that the film was labelled by its makers as a thriller, “Margin Call” wasn’t all that ‘thrilling’, in my opinion. Yes, it is a quality film – with substance – in comparison to what is usually shown in theaters today. It also had a few good moments – especially for those viewers who had worked in the financial industry at the time of the crisis and could identify with the portrayed people, situations and dialogues. However, I felt that the shock, the drama and the goose bumps of 2008 were missing. Perhaps, the reality was just too hair-raising to recreate on film? Overall, I would describe the film as a ‘lacklustre’ performance. Does anyone agree with me?

Comment from Andrew Jackson
Time: December 22, 2011, 1:50 pm

Margin Call indeed did not provide great insights into the mechanics of the financial crisis – and the title is a misnomer – but I found it to be a much more convincing portrait of the culture of a Wall Street bank than I have seen in any other contemporary film. The characters, especially those played by Spacey and Irons, rang true for me.

Write a comment

Related articles