The Trillion Dollar Meltdown

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

3.69 (922 ratings by Goodreads)
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Description

The sub-prime mortgage crisis is only the beginning: A more profound economic and political restructuring is on its way.We are living in the most reckless financial environment in recent history. Arcane credit derivative bets are now well into the tens of trillions.According to Charles R Morris, the astronomical leverage at investment banks and their hedge fund and private equity clients virtually guarantees massive disruption in global markets. The crash, when it comes, will have no firebreaks. A quarter century of free-market zealotry that extolled asset stripping, abusive lending and hedge fund secrecy will come crashing down with it."The Trillion Dollar Meltdown" explains how we got here and what is about to happen. After the crash our priorities will be quite different. But things are likely to get worse before they get better. This book will be indispensable to understanding the gross excess that has put the world economy on the brink - and what the new landscape will look like.show more

Product details

  • Hardback | 208 pages
  • 139.7 x 208.28 x 25.4mm | 408.23g
  • INGRAM PUBLISHER SERVICES US
  • PublicAffairs,U.S.
  • New York, United States
  • English
  • 1586485636
  • 9781586485634
  • 319,385

Review quote

"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, 2008show more

About Charles R. Morris

Charles R Morris is a lawyer and former banker. The author of several books, he has also published articles in publications including the New York Times and Wall Street Journal.show more

Rating details

922 ratings
3.69 out of 5 stars
5 23% (214)
4 35% (319)
3 32% (295)
2 8% (78)
1 2% (16)
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