The Money Machine is a great read for those who want to know how the city works. Phillip Coggan, a leading financial journalist has worked for the Financial Times and is now working for The Economist. He explains how the city works in a easy read without no jargon. You know when you are reading a book and you have to stop because there is so much gibberish in there. You will not find this here. Coggan describes the basics of the financial world by defining what loans and bonds are for example. Additionally, he gives an helpful explaining he differences between banks and building societies. What are shares? What does the Bank of England do? Who are borrowers? Coggan explains it all and analyses it very well. At the centre of his explanation, Coggan points out to Credit Crunch and how it has affected the city.
It is a great introduction to how financial institutions work in the country. I highly recommend it. Whether you are in the city or aspiring to have a career in the city go and get it!