Saving the Sun: How Wall Street Mavericks Shook Up Japan's Financial World and Made Billions

Saving the Sun How Wall Street Mavericks Shook Up Japan s Financial World and Made Billions Saving the Sun tells the story of the world s largest private equity deal where American investors made billions of dollars rehabilitating Shinsei a failed Japanese bank Within that business saga is

  • Title: Saving the Sun: How Wall Street Mavericks Shook Up Japan's Financial World and Made Billions
  • Author: Gillian Tett
  • ISBN: 9780060554255
  • Page: 333
  • Format: Paperback
  • Saving the Sun: How Wall Street Mavericks Shook Up Japan's Financial World and Made Billions

    Saving the Sun tells the story of the world s largest private equity deal where American investors made billions of dollars rehabilitating Shinsei, a failed Japanese bank Within that business saga is the dramatic tale of Japan s brightest financial minds, the men who made the Japanese economic miracle come to life, and their struggle against the economic failure in the 19Saving the Sun tells the story of the world s largest private equity deal where American investors made billions of dollars rehabilitating Shinsei, a failed Japanese bank Within that business saga is the dramatic tale of Japan s brightest financial minds, the men who made the Japanese economic miracle come to life, and their struggle against the economic failure in the 1990s Into this climate of despair, where Japan seemed incapable of reviving prosperity, came a group of wily and determined Americans who would discover just how different the Japanese really are.

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      333 Gillian Tett
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      Posted by:Gillian Tett
      Published :2019-07-15T01:53:47+00:00

    One thought on “Saving the Sun: How Wall Street Mavericks Shook Up Japan's Financial World and Made Billions

    1. Keira

      A book on Japanese banks post WWII, and specifically about the buyout of LTCB (now Shinsei Bank) by the Ripplewood consortium. Gave me a lot of good historical context on the banking sector in Japan. Saw many familiar names in the book!

    2. Szeyao

      Ha, my maiden review ! Well, the reason I picked this up was because Gillian Tett is the Financial Times Capital Markets editor, but has the interesting background of a PhD in Social Anthropology (so you don't need to have taken accountancy to understand banking and finance ha!) I like reading her stuff in FT, so I looked around to see if she'd written any books. It's basically a bottom-up study of the Japanese real estate bubble and crash and long period of stagnation in the 1980s to 1990s. I.e [...]

    3. Alex

      A must-read for everybody interested in Japanese politics. The book focuses overwhelmingly on a single policy case study: trying to rescue during the late 1990s and early 2000s one massive Japanese bank from the mountain of bad loans it had accumulated as a consequence of the deals it struck with various companies in the decade prior to the burst of the country's real-estate-driven bubble. The mechanism by which this rescue is to take place is by bringing Western (Swiss and American) capital and [...]

    4. John Goodell

      An illuminating analysis of Japan's debt crisis that began in 1989, and the reasons why and how that crisis has lingered on for over 25 years. I can't help but draw some relevance between this book that was published 12 years ago and Japan's economic woes of today.Although Collins, Flowers, and many of the other western players in the restructuring and reform process of Japan's LTCB (now Shinsei) bank are by no means perfect or entirely benign in their motives, they helped revolutionize a system [...]

    5. Andre Boivineau

      Through the presentation of LTCB/Shinsei history, this book is an excellent introduction to :- financial world- financial crisis! (history just repeats itself)- Japanese business culture- Japanese post-war history/way-of-lifeSome finance-technical parts are tough/boring for beginners like me, just skip those lines and get all the other very interesting informations.Read it while flying to Tokyo for your first businness trip there (or just if you want to understand post-war Japan & Japaneses) [...]

    6. Alex Flores

      The financial crisis that hit the United States in 2008 was not without precedent. Elected officials, financial talking heads and gurus, may have stated publicly they couldn't see the collapse coming, but it turns out Japan's decade-long recession from the early 90s through the mid-2000s suffered many of the same things the US economy has since 2008. The author does a good job explaining how the Japanese mindset and culture played heavily into the recession and how a more American way of banking [...]

    7. Jeremy Raper

      A decent account of the rise and fall of Shinsei aka Long Term Credit Bank. The salient takeaway point: Flowers was allowed to buy it because no other Japanese banks could justify (reputationally) buying it then using the put-back clause on bad loans to stuff the government with them - the move that basically allowed Flowers to clean the balance sheet at minimal cost. Otherwise, fairly well written but if you're not a japanophile of finance guy I wouldn't bother. Tett is generally much more read [...]

    8. Sylvain

      I would have loved more "Japanese" elements and less "finance" elements, especially after having read The Big Short, which is hard to beat in terms of deep dive into the world of finance. Of course the book also suffers from the fact that it was written 10 years ago (but we can't blame Tett for that), and we can't help but wonder "What happened next?". I read it for the Japanese culture elements, and I must say I smiled sometimes, as it confirms one thing: "that's how we do things in Japan".

    9. Chris Gould

      As a writer of books on Japan and now based here myself I devour anything like Tett's work. Interesting for any Japanophile or fan of Business and Economics. Japanese cultural traits well observed and scenarios well reported. Nice beginner's insight into tatemae - the outer wall of duty to which Japanese inner feeling is so often subordinated.

    10. Raymond

      I enjoyed reading this book as it gives a valuable insight in Japanese business culture. It is well written. Many characters are introduced in the book, but in such a way that you're are never lost despite the difficult names. The author does not use banking jargon and it is certainly also readable for people less familiar with the financial industry.

    11. Ming

      Pretty tell tale book of how the Japanese financial/business culture works! (and how it desperately needed intervention and unconventional solutions when the good times ended). It's true what they say, Japan is the only country in the world that communism actually survived/prospered, har har har.

    12. Arturs

      This piece illustrates huge differences between Japanesse and American people while they are trying to "bridge" this cultural gap and save Japanesse bank. Liked book overall, but had feeling that at some points was struggling with economics concepts.

    13. Stephen

      Good read on the banking crisis, and why such an obvious problem festered for years. The overuse of exclamation points is very annoying though.

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