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Lords of Finance: 1929, the Great Depression, and the Bankers Who Broke the World

Lords of Finance: 1929, the Great Depression, and the Bankers Who Broke the World

Paperback Arrow Books

By (author) Liaquat Ahamed

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  • Publisher: Windmill Books
  • Format: Paperback | 576 pages
  • Dimensions: 130mm x 198mm x 36mm | 458g
  • Publication date: 7 January 2010
  • Publication City/Country: London
  • ISBN 10: 009949308X
  • ISBN 13: 9780099493082
  • Sales rank: 19,132

Product description

This has happened before. The current financial crisis has only one parallel: the Wall Street Crash of 1929 and subsequent Great Depression of the 1930s, which crippled the future of an entire generation and set the stage for the horrors of the Second World War. Yet the economic meltdown could have been avoided, had it not been for the decisions taken by a small number of central bankers. In "Lords of Finance", we meet these men, the four bankers who truly broke the world: the enigmatic Norman Montagu of the bank of England, Benjamin Strong of the NY Federal Reserve, the arrogant yet brilliant Hjalmar Schacht of the Reichsbanlk and the xenophobic Emile Moreau of the Banque de France. Their names were lost to history, their lives and actions forgotten, until now. Liaquat Ahamed tells their story in vivid and gripping detail, in a timely and arresting reminder that individuals - their ambitions, limitations and human nature - lie at the very heart of global catastrophe.

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Author information

With degrees in economics from the Universities of Cambridge and Harvard, Liaquat Ahamed has witnessed at close hand the way countries' economic policy is made and executed as a professional economist at the World Bank during the 1980s. He has since worked as an investment manager, with a ring-side seat at a sequence of financial crises, from the collapse of the European Monetary System in the 1990s to the current 'sub-prime' economic downturn. This is his first book.

Review quote

"NIALL FERGUSON: 'Highly readable... [Ahamed] cannot have foreseen how timely his book would be." FT "ROBERT PESTON: 'Compelling and convincing...humanises the world's descent into economic chaos.'" Sunday Times "'Fascinating... Anyone who wants to understand the origins of the economic world we live in would do well to read this book...brisk, original, incisive and entertaining." Michael Beschloss "One of those rare books - authoritative, readable and relevant - that puts the "story" back into history... a spellbinding, richly human [and] cinematic narrative." Strobe Talbott "Absorbing [and] provocative, not least because it is still relevant." The Economist