How Money Became Dangerous: Our Turbulent Relationship with Finance

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3 years ago

The Inside Story of Our Turbulent Relationship with Modern Finance

In terms of ability to hold my interest and breadth of coverage this was one of the all-time best books about modern finance I’ve ever finished. How Money Became Dangerous is an incredible inside story about how the modern American financial system became as inequitable, disjointed and completely unsustainable as it is.

The author claims to have made north of 10 million dollars a year working on Wall Street if that’s the case he is well-qualified to call himself an insider. For me this was an ideal personable look through the career of one man at the evolution of modern finance. The story begins with our author in grad school and soon joining Solomon Brothers as a young analyst. It seems that in almost no time he was rubbing shoulders with celebrities and receiving million dollar bonuses for his work.

What is absolutely amazing and what I love about this book is his honesty and self-awareness of the disgusting machine he was a part of. He openly discusses being let down by a 4 million dollar bonus and negotiating for more but at the same time recognizing how insane it was.

Christopher Varelas is special because he was not born into the Hamptons house class but ended up spending most of his life there. That gave him a particular and wildly interesting outsiders view on the billionaires currently running the country.

One of my favorite vignettes is when the author tells of the time he and his family visited Disneyland and were able to skip the lines for all the rides because of who he worked for. He talks about the cringe on people’s faces forcing him to consider his privileged status and even how such events may end up shaping his own daughter as they were chauffeured to the front of each line.

This is a great memoir that reads like fiction but is clearly almost all factual. If you want to get an inside view of Wall Street for the past 20 years this is a must read book and if you fancy yourself the next Jordan Belfort this book needs to be on the top of your reading list.

I loved the ending, the last chapter is about the influencer generation and how chasing wealth and fame as goals in and of themselves is empty and pathetic, but also very American.

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3 years ago

Comments

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3 years ago

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3 years ago

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3 years ago

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3 years ago

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Physical poverty can make you shout out to God for help, and as you shout out for help, you come to understand that you need it genuinely as well as profoundly. A minister of a congregation in an amazingly well-to-do network disclosed to me that since his kin can purchase their way into or out of pretty much anything, it is difficult for them to consider themselves poor. The alleged independence of riches can entice us to have confidence in the bigger dream of our self-sufficiency—that we reserve an option to carry on with life as we need—and of our independence—that we have inside ourselves all we should be what we should be and to do what we should do. Cash can permit us to manage the cost of a narcissistic method of living that goes about as though nothing is more prominent than us and more significant than our individual needs, needs, and sentiments.

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3 years ago

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3 years ago

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3 years ago

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3 years ago

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3 years ago

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3 years ago

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3 years ago

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3 years ago

if you have more money you have more power.

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3 years ago

money is important since it's an essential for survival but too much money can also be dangerous

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3 years ago

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3 years ago

Thorough. Good reading

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3 years ago

wow

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3 years ago

nice article

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3 years ago

nice article very informative

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3 years ago

This is a nice post I must say, money is important but can bring enmity out of jealousy

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3 years ago

At times money. An be really hard to get and when got eventually, spending it then becomes an issue. Money can bring about conflict,most especially when not properly understood,

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3 years ago

nice one

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3 years ago

Money is not dangerous but what you do with it that depends the outcome.

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3 years ago

Good information

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3 years ago

Oh

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User's avatar ASM
3 years ago

Nice article about how dangerous money is , and since we have a pandemic money is the most important right now btw thanks for sharing with us if you have time can you subscribe back i really appreciate it thanks

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3 years ago

Nice article thanks for sharing with us if you have time can you subscribe back i really appreciate it thanks

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3 years ago

Facing the problem or troubles of these financies was surprising , most of the time money was ruling the world by means

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3 years ago

Nice Article

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3 years ago

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3 years ago

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3 years ago

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3 years ago

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3 years ago

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3 years ago

Wow 😍 amazing article

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3 years ago

great article. As the old saying "money is the root of all evil" well if not controlled and spent wisely then it was evil.

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3 years ago

essential

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3 years ago

Since money is an essential to the survival of people there is no point if they can't strive to make the money since they depend on it to survive but not to the extents of pulling others down. Nice write up tho...

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3 years ago

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3 years ago

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3 years ago

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3 years ago

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3 years ago

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3 years ago

I trulky agree with what the last chapter goes, as you said " chasing wealth and fame in and of themselves is empty and pathetic". It is very true that people nowadays are going and running to that path and are blind with money. They don't realise the fact that it is not the most important thing in the world.

We should actually learn from celebrities and millionaires that have been telling us through their interviews that money and fame doesn't give people true happiness in life. It just make an individual more greedy and selfish. Also, having lots of money often gives anxiety to people because all they think about is their money and how to make more of it and the security for it not be stolen.

I want to read that book that you are talking about. It seems to have a lot of facts in the society nowadays specially for money matters. Thank you for sharing that here ❤️.

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3 years ago

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3 years ago

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3 years ago

Too much money or wealth can overturn truth does making it dangerous to anyone. Mostly when people get much money they will tend to forget values and do against humanity.

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3 years ago

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3 years ago

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3 years ago

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3 years ago

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3 years ago

good book and good article review to hope to read the whole content of the book.Actually Maoney is the bad nor evil but according to bible in 1 Timothy 6:10 (NIV)-- For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs. The idea is all about LOVE of mone. Hope you accept my idea and stand.. By the way nice content. Keep it up

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3 years ago

[deleted]

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3 years ago

Why did you just copy a comment from goodreads and paste it here? Are you retarded or something? https://www.goodreads.com/book/show/43667077-how-money-became-dangerous

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3 years ago

I am very happy to find out that there are authors that tell the truth about themselves. They give quality information about their life and it's experiences. In fact that is why we are here on read.cash to tell our stories and give interesting and important information about ourselves. In some ways money can be useful and dangerous but it is more useful than dangerous. Money has also taken some people to the cemetery so it is good you balance your use and love for money.

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3 years ago

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3 years ago

Sounds like a good read/listen, thanks for sharing:)

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3 years ago

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3 years ago

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3 years ago

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3 years ago

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3 years ago

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3 years ago

money is the key

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3 years ago

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3 years ago

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3 years ago

We all have our dreams.

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3 years ago

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3 years ago

I wonder if our economy could be better off getting rid of money

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3 years ago

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3 years ago

Yea money has led many to do evil things no wonder the bible say that money is d root of all evil

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3 years ago
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3 years ago

I love this article, and i can't agree less with it. It's honestly insane. I will try and read that book as soon as possible.

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3 years ago

Money is important now adays , but put in the good hand/way. Sometimes money is the most reason why you get on danger.

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3 years ago

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3 years ago

Amazing

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3 years ago

I think money is happiness, if haven’t money you Won't credited from others. Money brings good life. Well, it would more peaceful if you get money and love together

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3 years ago

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3 years ago

Wow & fantastic even I can't read the full story of Christopher Valeras I can imagine the how great he is. 🥰

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3 years ago

Good one....Money is not dangerous, it become when someone life put on it.

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3 years ago

I will be launching my financial Blog late this year, And this book you reviewed will be a must read before the launch

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3 years ago

Woww

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3 years ago

Thanks for the article..

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3 years ago

Good Article

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3 years ago

Money trap. Great review

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3 years ago

Thank you for the information

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3 years ago

Money can kill people

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3 years ago

nic e.

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User's avatar Taj
3 years ago

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3 years ago

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3 years ago

very nice! we are now in financial crisis, I hope these billionaires opt to share a percent of their money to those in need since they were always treated as VIP's because of their money.

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3 years ago

You r right.

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User's avatar Taj
3 years ago

Nice article

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3 years ago

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3 years ago

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3 years ago

Another informative article,keep rocking it bro

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3 years ago

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3 years ago

Money is an essential need to survive in the world. In today’s world, almost everything is possible with money. Moreover, you can fulfill any of your dreams by spending money. As a result, people work hard to earn it. But using money in a wrong way can cause serious destruction. I hope people will see the light that money should not be the center of our focus.

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3 years ago

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3 years ago

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3 years ago

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3 years ago

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3 years ago

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3 years ago

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3 years ago

absolutely amazing and what I love about this book is his honesty and self-awareness of the disgusting machine he was a part of.

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User's avatar Mrm
3 years ago

wow thanks for sharing this info 😊

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3 years ago

you said true. With money there are lot of problems. Had everyone should aware of it

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3 years ago

Thank you for sharing this with us

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3 years ago

Since money is an essential to the survival of people there is no point if they can't strive to make the money since they depend on it to survive but not to the extents of pulling others down.

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3 years ago

Nice

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3 years ago

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3 years ago

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3 years ago

Nice

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3 years ago

Nice article

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3 years ago

For the love of money is the root of all evil

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3 years ago

Wow

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3 years ago

Thank you

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3 years ago

Thank you

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3 years ago

For the outsiders wall street is a crazy world full of successful dreams and broken nightmares. We hardly know the inside news. Must be a boo worth reading.

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3 years ago

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3 years ago

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3 years ago

It was very good to fall

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3 years ago

Chasing money is pathetic because people go any mile, even ready to pull anyone down just to make money

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3 years ago

Hallo

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3 years ago

nice article

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3 years ago

Thanks for info

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3 years ago

Thank you for sharing this with us! Best luck 🎲

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3 years ago

Money is very important

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3 years ago

Money is important, but you have to use it in a good way

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3 years ago

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3 years ago

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3 years ago

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3 years ago

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3 years ago

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3 years ago

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User's avatar Taj
3 years ago

Thanks for sharing this

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3 years ago

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3 years ago

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3 years ago

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3 years ago

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3 years ago

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3 years ago

Great informative article and I also love it to read. It gives me a lot of knowledge.

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3 years ago

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3 years ago

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3 years ago

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3 years ago