Book details

248 Pages
Publication date: November 2017
Imprint: ecoWing
Leonhard Fischer Arno Balzer

Once Upon A Time There Were Bankers

Why the modern financial system has failed

The international financial system has radically changed in recent decades. Since the big financial crisis of 2008 – with unprecedented bailouts of politics and central banks – the repercussions have been felt by everyone. Each person feels that the financial world has become more uncertain.

Is it still worth putting money in savings at all? Will the inflation feared by many people return and additionally devalue the savings? And what will happen when the old rules of monetary policy are no longer valid, when the long-established incentive system that rewards saving and punishes debt is abolished? According to what rules will the global financial system tick in the future?

The German top manager Leonhard Fischer answers these questions in his new book. As a former banker in Frankfurt, London, New York and Zurich, he knows the international financial playing fields and has experienced the rise and fall of financial capitalism first-hand. He does not mince his words and shows why hedge funds and private equity have become a new religion.
In a sound, honest and understandable way, he explains how the crash came about in 2008. In an unstable time, Fischer offers a way out of the identity crisis of the globalized economic system and draws a picture of the future of finance.


»He traces the origin of the rampant greed in the banking world and describes the dramatic collapse of the global financial system in 2008 vividly. But more gripping than this often-told story is Fischer’s analysis—and the consequences he draws from the disaster.«


English sample translation

Sample Translation


Leonhard Fischer

Leonhard Fischer, born in Nordhorn in 1963, studied business administration in Germany and the USA. His career as an investment banker began with J.P. Morgan. The next step on the career ladder led him to Dresdner Bank, where he joined the board in 1999. He was regarded as a miracle child of the financial world and is a highly praised commentator on international developments in the financial sector.