The second part of the book is almost a second book

THE DAY WHERE THE SKY FELL US ON THE HEAD

by Jean-Marie Messier

Threshold, 330 pages, 21 euros.

After his dramatic eviction of the Vivendi management six years ("hard, very hard"), Jean-Marie Messier, has restarted a career from New York where is installed today half the Messier Partners team, his consulting company. It was at Ringside to live the great financial crisis. He described the American ". It is inside, with Richard Fuld, Lehman Brothers boss within hours of being decided implementing bankruptcy of its bank, decision which will amplify the cataclysm. It is with Catherine Conner, who bought his house with the "sub-prime", and follows the string fatal credit until a small end comes in the monetary sicav "led" to which Jean Siber, Director financial of a Savoy SMEs thought he could entrust a part of the cash of the company. The purpose is educational: CDS, for example, "it is a little as if we could buy fire insurance on the House of someone else and collect a premium the day where the House is on fire".

No revelations but it is certainly one of the books that can recommend a unfamiliar person of finance who has desire to understand why "the sky he fell on the head".

The second part of the book is almost a second book. What to do now Chapter are well known to readers of the "Echos": supervision, decrease the effect of leverage, problems of the modes of pay in the finance and credit rating agencies, etc. The surprise is in tone. It is not expected to find so interventionist former boss of the private group Vivendi today still completely immersed in the liberal economy. Nicolas Sarkozy which he sings the praise, it recommends "type on the table" and do not stop on the way in his arms of iron with bankers. The State must enter temporarily to the Board of Directors of banks in difficulty.

Found on the official, Jean-Marie Messier Advisor of Edouard Balladur when he was Minister of finance Not necessarily because the profession of the Messier there was... organize privatization. These are the scars of the former boss of Vivendi that emerge. Not that he welcomes him who believes have been "a real personal lynching by media", to see so many other bosses accused of being far worse than what it was blamed. The memories returning often his comments are rather those of the pattern of a "real" company that has "lived in his flesh" attacks "virtual" Finance Its most categorical sentences go to "chimera of the 15 " performance of the funds invested by the shareholders, in the short sales that he would like to see banned, etc.

The most significant passage from the book is probably that which he engages in this prognosis, inspired apparently questions posed it some of its existing clients: "companies that will make the choice to withdraw from the stock market and the market to be less dependent on the short term and speculation will grow strongly in the years to come."