Possibly the most controversial topic in financial regulation. Should the largest banks (who control 40%+ of the deposits in the US) be broken up, so we don't have to worry about bailing them out, again, in the future? And, what of the banks that are really just investment banks and trading shops like Goldman and Morgan Stanley? Mr. Sorkin is a terrific journalist and a fascinating writer.

Insurers buffer us against nearly all the major negative events of life. But, they invest our premiums and were not immune to the stressed financial environment. Read about this from the perspective of a chief investment officer of an insurer, during the most difficult times of his career. And in this fiction/non-fiction book, you will see how an insurer can approach its investment process.

Paulson shouted 'fire' in the crowded theatre of mortgage backed securities sold as AAA rated. Virtually no one listened. They are amongst the 'burned', proving it is always worthwhile to think for yourself when it comes to investments.

If there is deflation, Ben Bernanke has told us the Fed could always drop money from helicopters. Although deflation would be much, much worse than inflation, I'm still waiting for the helicopters to show up. Seriously, this provides a good overview on the tough decisions made by the Fed thus far. Only time will tell which ones worked and which ones did not.

Gillian Tett may be one of the finest financial journalists on the planet. Thankfully, she also works for one of the finest financial newspapers on the planet (Financial Times). Her account of CDOs and credit derivatives (CDS) will serve to make people consider how CDS, in particular, have gotten completely out of control.

Time to reconsider rational, efficient markets. This book provides a good start.

Another fascinating book about the firm that was the true 'renegade' investment banker, according to the traditional houses of Lehman and Morgan Stanley, etc. Were they right or wrong about that?

The author takes names and exposes how we got into the current mess. He pulls no punches and knows of what he speaks, something of which the mainstream media should take note.

How much is success (financial and other wise) due to luck? Taleb tackles this and other controversial issues. Unless you have incredibly unique skills or have a job where skilled implementation is a prerequisite (e.g. dentist), you will be humbled after reading this.

Get back to basics with this excellent text. It is a requirement of the CFA Institute, the professional society of Chartered Financial Analysts. So, it is not intended for the general reader. But, it provides an excellent background for how professional investors approach portfolio management.

So you think the current financial mess is bad. How about around the turn of the century? Not the 21st, but the 20th century. Interesting reading that will make you think of parallels to today.

Lehman from a 20 year investment banking veteran and, I think, a former Lehman employee...using a pseudonym.

The beat, or should we say, battle goes on, as buyers and sellers fight for the upper hand in this interesting book.

To say that the Fed is still independent of the Treasury (Administration) at this point is like saying the cream in your coffee can be extracted by itself. The current financial crisis has basically imploded 'independence'. Yet, the Fed must carefully consider recasting itself in the future.

NYU's Stern School of Business has a few prescriptions for what should be done next. A bit academic, but interesting and important reading nonetheless.

From the Milken Institute, a deep exploration of what went wrong and what we should consider next.