The Midas Touch

Authors James Cummins & Cameron W. Reed examine the predatory nature of short selling that is still prevalent within the financial industry today. What was originally intended to serve as a natural check on abuses within the stock market has itself become another method of manipulation for those with the necessary know-how. What seems innocently enough as capitalism and greed gone naturally wild in an environment of deregulation, soon appears as de-liberate political maneuvering and close control on an international scale by agents and institutions operating above the law. The authors of The Midas Touch point out that this highly profitable, preferred method of professional swindlers world-wide has much more sinister repercussions than just clearing out 401(k)s-short selling was a contributing factor to the collapse of the US housing sector in 2007 that led to the global financial crisis begun in 2008 and has been the preferred fundraising methods of terrorist outfits worldwide. The Midas Touch speaks to the nature of this ongoing financial crisis that we seem unable to extricate ourselves from and describes the ongoing problem of a financial sector unwilling to change its business practices.