What caused the financial meltdown that started in late 2007, early 2008 and had the United States teetering on the edge of an economic depression? Many explanations have been presented and many books have been written, most of which are biased in some way, politically or otherwise. A book that attempts to cover some ground and explain different causes in a short amount of space is this, Gambling with Other People’s Money.This book talks about the circumstances that led to the financial crisis and while it does place blame on different factors, the position it aligns most strongly with is that of government bailouts and crony capitalism. Most businesses are extremely careful in the way they invest because they know the consequences of bad financial decisions. With financial institutions, however, there is a greater tendency for carelessness and the reason is because they are perceived as too important to lose, and thus more likely to receive government aid. Other businesses have been the recipient of public rescues also, but this is more likely with financial institutions. This, and the often-cozy relationships between the leaders of such businesses and government officials, is what the book claims were the main culprits in the crisis.As I said previously, there have been many books written and many positions taken on the financial meltdown. Some take the position that the lack of government oversight and the rollback on regulations led to the situation. Others think that there was too much regulation and a more unfettered capitalistic approach would have been best. I can remember the crisis well and I remember the different causes and solutions offered by politicians, businesspeople, political pundits, and others. This book doesn’t delve too deeply into other causes, like the accusation that banks were practicing predatory lending and that bank officers were only looking for a quick commission. These possible causes are not examined, but the book does offer the sweeping generalization that, knowing your bad decisions can and will likely be covered by government aid, bank leadership is more likely to behave recklessly.I think everyone would agree that crony capitalism was a major contributor to the crisis. I think many would also agree with one of the book’s key points that home ownership isn’t the end- all, American dream enabler that it is often promoted to be. I certainly agree also that the high probability of receiving government bailout money would have an impact on decision making, too, and often in a negative way. My main issue with the book is that it’s a little too short and thus doesn’t examine certain aspects of the financial crisis the way it should. There are not enough pages to thoroughly cover what went wrong, so don’t be surprised if you find yourself looking for more insight online or from other books.It has been more than a decade since the financial crisis but much of the problems, like bailouts and the close relationships between businesses and politicians, are still with us today. Whether or not we have learned anything from this past experience remains to be seen and Gambling With Other People’s Money is a good way to learn more about this difficult time in U.S. financial history and what needs to be changed to lessen the chances it will happen again. It doesn’t provide the detail I would like, but it’s a good primer on the crisis and its potential causes.