The Two Trillion Dollar Meltdown by Charles R. Morris
Easy Money, High Rollers, and the Great Credit Crash

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Synopsis

Previously published as The Trillion Dollar Meltdown

Now fully updated with the latest financial developments, this is the bestselling book that briefly and brilliantly explains how we got into the economic mess that is the Credit Crunch. 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 got into this mess. He explains the arcane financial instruments, the chicanery, the policy misjudgments, 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 Two Trillion-Dollar Meltdown, updated to include the latest financial developments, is indispensable to understanding how the world economy has been put on the brink.

 

About Charles R. Morris

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Charles R. Morris has written twelve books, including The Coming Global Boom, a New York Times Notable Book of 1990; The Tycoons, a Barron's Best Book of 2005; and The Trillion Dollar Meltdown, winner of the Gerald Loeb Award and a New York Times Bestseller. A lawyer and former banker, Mr. Morris's articles and reviews have appeared in many publications including the Atlantic Monthly, the New York Times, and the Wall Street Journal.
 
Published March 12, 2009 by PublicAffairs. 240 pages
Genres: Business & Economics, History, Political & Social Sciences, Education & Reference, Professional & Technical, Literature & Fiction. Non-fiction

Unrated Critic Reviews for The Two Trillion Dollar Meltdown

The Guardian

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The Two Trillion Dollar Meltdown by Charles Morris Buy it from the Guardian bookshop Search the Guardian bookshop Two trillion dollars, and US trillions at that, se...

Mar 07 2009 | Read Full Review of The Two Trillion Dollar Meltd...

BC Books

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Chapter 3 recaps three critical developments in the 1980s and the 1990s which came together to create the “great credit bubble that is now imploding around us.” Chapter 4 gets a little complicated, with a rundown of numbers, the methods and mechanics of the credit bubble, and the roles that the n...

Jul 18 2008 | Read Full Review of The Two Trillion Dollar Meltd...

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