Title: A Wall Street Bailout for Main Street: This Bulletproof Trade Will Help You Get Paid
Author: Iris Marie Mack
Publisher: 2016, CreateSpace
ISBN: 9781541024613
Pages: 112
Genre: Finance / Business
Reviewed by: Anita Lock
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Pacific Book Review Star
Awarded to Books of Excellent Merit
Iris Marie Mack’s latest is a no-nonsense how-to book. A Wall Street Bailout for Main Street, is about bulletproof trading strategies for laypersons. A collaborated effort that includes four co-authors, this reformatted and straightforward textbook styled guidebook is based on the more technical concepts from the 2014 book, Energy Trading and Risk Management: A Practical Approach to Hedging, Trading, and Portfolio Diversification. Taking readers back to 2008, Mack offers a solution to millions of average people who are at a loss as to how they can benefit from the Wall Street bailout. Her mantra: “Don’t need to get mad. Get even!” That said, the goal of her book is to provide a blueprint for how to rent stocks to an exchange and to collect some bailouts on a regular basis.
To better understand trading and bailouts (particularly the financial crisis of 2007-2009), Mack opens with explaining the Hegelian Dialectic or “Problem-Reaction-Solution” methodology. Briefly stated, it focuses on how an “agent of change” creates a problem or crisis, provokes reaction, and then attempts to control the outcome by providing a solution. The importance of this methodology starts to make sense as she provides an in depth account of the role the Federal Reserve (U.S. Central Bank) plays on our monetary system. Mack includes a historical perspective on the establishment of the 2008 TARP (Troubled Asset Relief Program), a supposed solution to the subprime mortgage crisis, before delving into the covert backdoor bailouts that domestic and foreign banks received from the Federal Reserve. Using a step-by-step approach, she peels back the Fed’s guise to reveal its ties to banks and its connection with European financial institutions.
The material, as mentioned above, perfectly segues into the bulk of Mack’s book: Covered Call Options strategy. This strategy is a way to generate Wall Street bailouts for Main Street (“a colloquial term used to refer to individual investors, employees and the overall economy”—Investopedia). Plenty of graphs, flow charts, illustrations and maps grace Mack’s brief chapters brimming with in-depth information set to a crisp eye-appealing format which includes technical terms, trading strategies, case studies and discussions on chapter topics; all for the purpose of helping readers make calculated risks when trading options contracts. Explaining the world of trade with its multitude of terminology can be very confusing. What Mack presents in layperson’s lingo is deliberate and clear cut.
Accolades undoubtedly precede Iris Marie Mack. Most notably she is the second African-American to receive a doctorate in Applied Mathematics from Harvard University. Mack has also earned a Sloan Fellow MBA from the London Business School. What sets her apart though is not her prestigious career but her determination to help average citizens rise above their financial situations. That said, Mack dedicates her book “to everyone on Main Streets all around the world—including the billions living in poverty around the globe; almost 100 million unemployed Americans; underemployed; homeless; retired; veterans; military personnel; teachers; homemakers; students; and to anyone who wishes to generate some extra income!!” A Wall Street Bailout for Main Street is a perfect companion guide for investment-minded individuals!
