Aleksa's Book Review: The Shadow Banking System

I must be very honest in that the "shadow banking" world isn't nearly as interesting as it's cracked up to be by the regulators and ivory-tower academicians slinging endless hate towards it. It's just any organization that functions as a bank - with deposit and loaning services - but doesn't conform to regulations, instead doing it secretly.

The book goes on a massive tirade about how to stop these organizations from doing this, making sure AML is respected and that terrorism doesn't get funded. However, it just seems like the biggest overreach on the planet and the mathematical formula that's used to justify this intrusion is so insanely complex and poorly explained that it reeks of ill faith.

I respect whoever wrote this book, and it's a very smart individual. However, I must say that I'm none the wiser from having read this and I don't recommend it - if you want endless arguments for AML and KYC, look no further. For something useful, look elsewhere.
2/10