Lords of Finance: 1929, The Great Depression, and the Bankers who Broke the World

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Random House, Sep 30, 2011 - Business & Economics - 576 pages
21 Reviews

THIS HAS HAPPENED BEFORE.

The current financial crisis has only one parallel: the Wall Street Crash of 1929 and subsequent Great Depression of the 1930s, which crippled the future of an entire generation and set the stage for the horrors of the Second World War. Yet the economic meltdown could have been avoided, had it not been for the decisions taken by a small number of central bankers.

In Lords of Finance, we meet these men, the four bankers who truly broke the world: the enigmatic Norman Montagu of the bank of England, Benjamin Strong of the NY Federal Reserve, the arrogant yet brilliant Hjalmar Schacht of the Reichsbanlk and the xenophobic Emile Moreau of the Banque de France. Their names were lost to history, their lives and actions forgotten, until now. Liaquat Ahamed tells their story in vivid and gripping detail, in a timely and arresting reminder that individuals - their ambitions, limitations and human nature - lie at the very heart of global catastrophe.

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LibraryThing Review

User Review  - RalphLagana - LibraryThing

This is a good book, but likely not for all. You don't have to understand a great deal of finance, but it helps to grasp the ideas of the gold standard, inflation, and deflation because the important ... Read full review

LibraryThing Review

User Review  - gregorybrown - LibraryThing

Even given his opening epigraph claiming that biography was the only way to understand history, Ahamed spends surprisingly little time describing each of the bankers as people. Sure, there are the ... Read full review

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About the author (2011)

With degrees in economics from the Universities of Cambridge and Harvard, Liaquat Ahamed has witnessed at close hand the way countries' economic policy is made and executed as a professional economist at the World Bank during the 1980s. He has since worked as an investment manager, with a ring-side seat at a sequence of financial crises, from the collapse of the European Monetary System in the 1990s to the current 'sub-prime' economic downturn. This is his first book.

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