The Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crash - Couverture rigide

Morris, Charles R.

Couverture rigide

ISBN 10 : 1586485636 ISBN 13 : 9781586485634

Editeur : PublicAffairs, 2008

Synopsis

Unusual book

A propos du livre

Revue de presse :

"Charles Morris, author of The Trillion Dollar Meltdown, isn't one for sugarcoating. His analysis is dour and grim, but certainly not dull. And when read against a backdrop of an ever-weaker economy, increasingly anxious economists and a stream of gloomy predictions, it can be downright scary....Morris serves up a sharp, thought-provoking historical wrap-up of the U.S. economy and its markets, along with clear scrutiny of today's economic woes."—USA Today, March 31, 2008"[A] shrewd primer... [Morris] writes with tight clarity and blistering pace."—James Pressley, Bloomberg News"Morris offers a persuasive diagnosis of the long-building credit crash.... An especially graceful writer, Mr. Morris accessibly explains Wall Street's arcane instruments.... This is a smart layperson's guide."—The New York Times, April 6, 2008“In his brief but brilliant book, Morris describes how we got into the mess we are in.... Few writers are as good as Morris at making financial arcana understandable and even fascinating.”—New York Times Book Review, April 20, 2008

“New York Times Notable Book of the Year”

"[The Trillion Dollar Meltdown] is an absolutely excellent narrative of the horror that we have in the credit markets right now.... It's a wonderful explanation of how it happened and why it's so rotten, and why it will take a long time to unwind."—Paul Steiger, former Mng Editor, Wall Street Journal

"However up to date it may seem, this book is no rush job. Morris deftly joins the dots between the Keynesian liberalism of the 1960s, the crippling stagflation of the 1970s and the free-market experimentation of the 1980s and 1990s, before entering the world of ultra-cheap money and financial innovation gone mad... [Morris's] provocative book is...a well-aimed opening shot in a debate that will only grow louder in coming months."—Economist, March 6, 2008"Will provide some important background that will help decipher the meaning behind today's gloomy financial headlines. For those who wonder "Why?", here's a place to get some answers!"—Watsonville (CA) Register-Pajaronian, March 13, 2008

Présentation de l'éditeur :

With the housing markets unravelling daily and distress signals flying throughout the rest of the economy, there is little doubt that we are facing a fierce recession. In crisp, gripping prose, Charles R. Morris shows how get got into this mess. He explains the arcane financial instruments, the chicanery, the policy mis-judgments, the dogmas, and the delusions that created the greatest credit bubble in world history. Paul Volcker slew the inflation dragon in the early 1980s, and set the stage for the high performance economy of the 1980s and 1990s. But Wall Street s prosperity soon tilted into gross excess. The astronomical leverage at major banks and their hedge fund and private equity clients led to massive disruption in global markets. A quarter century of free-market zealotry that extolled asset stripping, abusive lending, and hedge fund secrecy will go down in flames with it. Continued denial and concealment could cause the crisis to stretch out for years, but financial and government leaders are still downplaying the problem. The required restructuring will be at least as painful as the very difficult period of 1979 1983. The Trillion-Dollar Meltdown is indispensable to understanding how the world economy has been put on the brink.

À propos de cette édition

• Éditeur: PublicAffairs
• Date d'édition: 2008
• ISBN 10: 1586485636
• ISBN 13: 9781586485634
• Reliure: Relié
• Nombre de pages: 224