Origins of the Crash by Roger Lowenstein
The Great Bubble and Its Undoing

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This inquiry into the rise and fall of the great Wall Street boom of the 1990s, from bestselling author Roger Lowenstein, has all the hallmarks of a financial classic.

Roger Lowenstein, recognized as one of the best financial reporters of our time, turns his focus to the 1990s stock market and economic boom and bust in Origins of the Crash. With his singular gift for turning complex financial events into eminently readable stories, Lowenstein lays bare the labyrinthine events of the manic 1990s-including the collapse of Enron, the dot-com bubble, the accounting scandal at Andersen, and much more.

Drawing on his sense of history, Lowenstein inquires how a financial system that arose out of the wreckage of the Depression and that was intended to avert the miscues of that era could ultimately repeat the very same scenario of massive speculation and corruption leading to collapse. He discovers the roots of the recent crisis in the financial culture that cropped up in the 1970s and 1980s as America encouraged companies to hand out ever greater packages of stock options to their executives. In an enthralling narrative, Lowenstein ties together all of the characters of the great boom and bust: Alan Greenspan, Jack Grubman, Jack Welch, Abby Cohen, Henry Blodget, and a host of dot-com pioneers. But it is the collective rendering of such figures-the unique portrayal of the culture of the era-that truly distinguishes Origins of the Crash as the book that will frame our appreciation of the period.

Just as John Kenneth Galbraith's The Great Crash was the canonical text of 1929, Lowenstein's Origins of the Crash is destined to become the definitive account of the 1990s.

About Roger Lowenstein

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Roger Lowenstein, author of the bestselling Buffett: The Making of an American Capitalistand When Genius Failed: The Rise and Fall of Long-term Capital Management, reported for the Wall Street Journalfor more than a decade and wrote the Journal's stock market column "Heard on the Street" and also its "Intrinsic Value" column. He now contributes articles and reviews to the Journaland the New York Times Magazineand is a columnist for SmartMoneyMagazine.
Published January 26, 2004 by Penguin Press HC, The. 288 pages
Genres: Business & Economics, History, Biographies & Memoirs, Computers & Technology. Non-fiction

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Meanwhile, CEO salaries swelled, companies that “were worthless from start to finish came to be valued in the billions of dollars,” and honest financial reports became objects of exquisite rarity—all aspects of madness-of-crowds behavior that Alan Greenspan’s phrase “irrational exuberance” only b...

Jan 12 2004 | Read Full Review of Origins of the Crash: The Gre...

Publishers Weekly

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Lowenstein's low-key ease with the most complex financial reporting makes this book both accurate and easy to read, just as his earlier Buffett revealed a fascinating character where other writers saw only dullness, and his Where Genius Failed was a very comprehensible account of the 1998 Long-...

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Project MUSE

Moreover, the same public accounting firm was allowed to offer financial advice and then to audit the outcome.

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The Motley Fool

This book can be read over the course of a weekend afternoon, but it emphasizes lessons about the psychology of businesses and the market as a whole which can be appreciated over a longer time frame.

Aug 25 2006 | Read Full Review of Origins of the Crash: The Gre...

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