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
18 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  - EricKibler - LibraryThing

Given the subject matter of monetary policy, which as I suspected, I find deadly dull no matter how good the writing is, I'm pleased with myself for having stuck it out and gotten through this. But I ... Read full review

LibraryThing Review

User Review  - lindap69 - LibraryThing

someday when I have time for the tome which basically says that the financial heads of the US, England, France and Germany were responsible for the Great Depression and WWII 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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