Street of Dreams - Boulevard of Broken Hearts

Street of Dreams - Boulevard of Broken Hearts : Wall Street's First Century

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This is the story of America's most famous street, Wall Street. No other place is so inextricably linked with the nation's history, the development of capitalism and the dramatic highs and lows of the financial markets. No other place has provoked such mythology, or has been the subject of so many dreams and illusions. Howard Wachtel's book provides a fascinating account of the origins of this famous street. Exploring its development through the eighteenth and nineteenth centuries, and into the twentieth century, he charts its dramatic transformation, offering a window on the past that helps us understand how it became the centre of world finance that we see today. Drawing on original archive research, and illustrated throughout with photographs, Street of Dreams - Boulevard of Broken Hearts is a lively and informative narrative that reads not only as a popular history of one of America's great icons, but also as a critical assessment of Wall Street's role in the political, economic and cultural evolution of the country.
Wachtel looks at the key characters -- both better-known and lesser-known -- who shaped the course of Wall Street's early years; he traces its wider social history and its physical development and architecture; he focuses on the New York Stock Exchange as the most important institution on the street, including a wider history of banking houses and competing exchanges; he explores how Wall Street has influenced politics, and how it has been shaped by larger political forces around it; and he examines its love-hate relationship with two other streets -- Pennsylvania Avenue and Main Street -- the forces of government and the people of America.
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Product details

  • Hardback | 256 pages
  • 160 x 239.8 x 25.4mm | 503.5g
  • London, United Kingdom
  • English
  • 25 black and white photographs
  • 0745319254
  • 9780745319254

Table of contents

Preface 1. The Big Bang: Alexander Hamilton And The Origins Of Wall Street 2. Lex Mercatoria 3. Jackson And The 1830s Bank War 4. The New Metropolis 5. Wall Street And The Civil War 6. Wars, Other Than Civil 7. Trustee Over The Nation's Economy 8. The American Century Bibliography Index
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Review quote

"Speculative boom and bust. Insider trading and failed self-regulation. Criminal prosecution, congressional hearings and another layer of government oversight. Yes, Virginia, its all happened many times before as American University professor, Howard M Wachtel, reminds in (this book). Wachtel provides a breezy, straightforward history of Wall Street. It helps explain how the not-always-cordial interplay between Washington and Wall Street has shaped the institutions of modern finance." -- Washington Post"An elegantly crafted, smoothly-narrated history of Wall Street from its birth through its early adulthood. Rich in detail, shrewd in judgment, it brings alive for both the general reader and the specialist the individuals and the larger forces that have shaped the modern heart of global finance." -- Richard Parker, The Joan Shorenstein Center on the Press, Politics and Public Policy, Harvard University, John F. Kennedy School of Government"In this insightful history, Howard Wachtel shows how, from its origins in the late 18th century until the early 20th century, Wall Street attained and applied the enormous political and economic power that it still wields today. The history that Professor Wachtel recounts is one of self-serving machinations by Wall Street insiders, controlling as they did 'other people's money' and with inordinate influence in Washington. Notwithstanding recurring rounds of regulation and reform following periods of financial collapse, the historical Wall Street that Professor Wachtel puts on display remains very recognizable in our own time." -- William Lazonick, Distinguished Professor, INSEAD and University Professor, University of Massachusetts Lowell"We hear aboutit all the time. But what is Wall Street? Howard Wachtel tells us what it is, why it is important, how it affects us -- and how it always has. And he does it elegantly and with a sureness and command that puts all the pieces together and makes for a good read as well." -- Jefferey Madrick, editor of 'Challenge Magazine', columnist for 'The New York Times' and author of several books including 'Taking America' and 'The End of Affluence'"Wachtel provides a breezy, straightforward history of Wall Street from it's earliest days a financier to the young American republic, through the panics of the 19th century, and J. P. Mogan's rescue of the financial system in 1907.And while the book doesn't provide much in the way of profound analytic insights, it helps explain how the not-always-cordial interplay between Washington and Wall Street has shaped the institutions of modern finance"--Melbourne, FL Florida Today"The character descriptions and vivid stories elevate Street of Dreams to much more than a dry tome on finances." -- Dallas Morning News"a fascinating& look at the history of the United States from 1792 to the near present from a financial point of view."--Philadlephia Inquirer
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About Howard M. Wachtel

Howard Wachtel teaches in the Department of Economics at t The American University in Washington, DC. He is a Fellow of the Transnational Institute in Amsterdam and the author of numerous books and articles on economics.
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