Christopher Varelas

As a reader, the author was speaking to "the choir.” Through his anecdotes and experiences, he points out many of the flaws of the current banking and investment systems. I was amused by his experience as a child where he put money into a savings account regularly. He later went to withdraw the money, which was admittedly a small amount, only to find out that the account was wiped out due to fees. Bankers are not your friend.

I found most but not all of the anecdotes to be interesting and informative. The author offers potential solutions for the banking and investment industries, government and for consumers in mitigating corruption, waste and abuse. I think his most powerful point is that people need to understand money and finance much better. This reader who has been in the banking industry most of his life confesses that he really doesn't understand many of the financial terms, products, alternatives and risks involved. I view most investing as gambling – – simply making a bet on chance.

I enjoyed 80 to 85% of the book – – the other 15% I did not learn anything new or of interest.… (meer)

Christopher Varelas takes us on a journey through his financial career that started out, well actually in Disney World which seems kind of appropriate to many sectors of the financial kingdom and all of its fierce and sometimes scary species. His first venture begins in clerical nature at a BofA in Orange county, CA and rapidly progresses to a wide variety of financial experiences.

His first big step is on completion of college and of course Wharton School. Hmmm, isn't there a politician out of there associated with this place? That credential is one of the keys, and literally a key on what he elaborates on, which is access. The ticket to Wall Street where the mover and shaker financial heavyweights play the game. He runs through various positions and on to M&A, and finally wraps up with municipal finances back once again in California with the spectacular meltdown of the infamous but probably forgotten Orange county debacle.

Though the books slogs along at times and I stifled many yawns it does succeed in getting some very important messages across of the pitfalls and perils of our exotic and yes dangerous at times financial system. There are too many aspects to go into here, and there many, but two central themes that surfaced again and again were exploitation and accountability.

In brief exploitation in financials is shown to be rampant and we kind of know that as it pops up in the news almost weekly it seems. The "system" is designed to foster this condition as the human beings pulling strings to enrich themselves are very much in control and will probably always be working their angles.

Accountability seems nearly negligible as the paltry slaps on the hand in way of penalty makes it seem almost quite worthwhile. A lot of those bad guys still walk walkway with bulging pockets of cash. The housing meltdown fabricated by this industry a good example of this. Who paid the price? Not the bank executives. But ultimately the little people on the side streets all over this country who took the brunt of the backlash of this insidious plot.

Varelas wraps up the book with the traditional, what should be done finale to offer his recommendations on measures and solutions to correct some of these evils. I snickered at some of them like, "self regulation" within the industry. Of course put the fox in charge to see the hen house to make sure it is properly secured. But he also had some constructive things to say. Like how about some good educational programs implemented right in the high schools to give our young people starting out a fighting chance in dealing with the financial beast they will encounter again and again. Practical education, what a concept.

As much as I found the book a bit slow and memoir in nature there are numerous insights into what goes on behind the scenes and backrooms that make it worthwhile for anyone curious about the mysteries behind what so influences everything from paychecks to political pacs.… (meer)