Winner of the Pulitzer Prize “Erudite, entertaining macroeconomic history of the lead-up to the Great Depression as seen through the careers of the West’s principal bankers . . . Spellbinding, insightful and, perhaps most important, timely.” —Kirkus Reviews (starred) “There is terrific prescience to be found in [Lords of Finance’s] portrait of times past . . . [A] writer of great verve and erudition, [Ahamed] easily connects the dots between the economic crises that rocked the world during the years his book covers and the fiscal emergencies that beset us today." —The New York Times It is commonly believed that the Great Depression that began in 1929 resulted from a confluence of events beyond any one person's or government's control. In fact, as Liaquat Ahamed reveals, it was the decisions made by a small number of central bankers that were the primary cause of that economic meltdown, the effects of which set the stage for World War II and reverberated for decades. As we continue to grapple with economic turmoil, Lords of Finance is a potent reminder of the enormous impact that the decisions of central bankers can have, their fallibility, and the terrible human consequences that can result when they are wrong.
"The New York Times bestselling business journalist Christopher Leonard infiltrates one of America's most mysterious institutions--the Federal Reserve--to show how its policies over the past ten years have accelerated income inequality and ...
Just as McLean's The Smartest Guys in the Room was hailed as the best Enron book on a crowded shelf, so will All the Devils Are Here be remembered for finally making sense of the meltdown and its consequences.
Dan Sparks first detected it when Kevin Gasvoda phoned him that month with some strange news. The obscure subprime originators, who doled out money advanced by Wall Street dealers in return for home loans that fed the giant ...
Robertson's staff even arranged events at the Fed's headquarters in Washington in which reserve bank presidents would invite congressional staff from their districts to come for hours of briefings. Ironically, some of the sources of ...
About two months after that story appeared, Cayne was out, and Bear's president, Alan Schwartz, was elevated to the top job. Schwartz was destined to hold that job for only about two months. Speculators in panicky markets have been ...
Quoted inLannyEbenstein, Milton Friedman:ABiography (NewYork: Palgrave, 2007), 18. 73 “In lateryears...”: Milton and Rose Friedman,Two Lucky People,58. 74Friedmanand Stigler pamphlet: Ebenstein,MiltonFriedman,50. 74“Itwasnot reviewed.
As King argues, this is financial alchemy—the creation of extraordinary financial powers that defy reality and common sense.
Based on extensive archival research in Switzerland, Britain, and the United States, and in-depth interviews with key decision-makers -- including Paul Volcker, the former chairman of the US Federal Reserve; Sir Mervyn King, governor of the ...
The Scientists, Fraudsters, and Corrupt Politicians Who Reinvented Money, Panicked a Nation, and Made the World Rich Thomas ... Then as now , people don't give up an advantage — those high - interest - rate payments — for nothing .
The 10th anniversary edition, with new chapters on the crash, Chimerica, and cryptocurrency "[An] excellent, just in time guide to the history of finance and financial crisis." —The Washington Post "Fascinating." —Fareed Zakaria, ...