The book is about the shadow banking system. It is a system that is out of control, well beyond the reach of regulators. My book traces its evolution and how it was covered, or should I say not covered, in the financial press. Furthermore, I share its basic constructs, inherent risks and through comments from the participants themselves make a compelling case that in fact, over the last 40 years it has not benefited society at large. I argue for a complete overhaul that offers an inclusive, democratic system devoid of all the inbuilt protections accorded the big banks today.
How do you make non-fiction interesting and engaging while still being informative?
Humor is very important as well as a healthy dose of cynicism. My friend Mary Fricker of RepoWatch.org, a shadow banking education website, said she loved the book’s “irreverent” tone. And as I previously stated I cherrypicked the most compelling and in some cases shocking information about how the system operates. My book is short but packs a powerful punch. As a poet I used to have a mantra, “economy of words.” I applied this to my book, working hard not to deviate from the main message.
What is your favorite part of writing?
My favorite part of writing is being able to express my opinions, thoughts, and feelings. For years I focused on poetry. Poetry was my therapy. Writing verse allowed me to articulate my inner struggles. It played a very important role in my life. Subsequently, I turned to essays and have even written two books about my personal life. Writing, which was born of a love of books, has got me through some very tough times.
I also enjoyed writing about shadow banking because I became a detective sifting through the constructs of complicated financial instruments and breaking them down so the reader could understand them and their attendant risks.
Talk a little bit about yourself. What is your background? What is something people would be surprised to learn about you?
I am 71 years old, I grew up outside of Boston and spent summers on the NH coast. For many years I was married, then divorced in 2018. Writing this book has been so helpful during my recovery because, yes, one does have to recover from divorce!!
In addition to writing about shadow banking, I have written about narcissism. I am of the belief that the mainstream medical community needs to be educated about narcissistic abuse. Evidence of this may be found in the fact that Narcissistic Abuse Syndrome is not listed in the Diagnostic and Statistical Manual of Mental Disorders (DSM-5-TR).