Rainbow's End: The Crash of 1929
Rainbow's End tells the story of the stock market collapse in a colorful, swift-moving narrative that blends a vivid portrait of the 1920s with an intensely gripping account of Wall Street's greatest catastrophe. The book offers a vibrant picture of a world full of plungers, powerful bankers, corporate titans, millionaire brokers, and buoyantly optimistic stock market bulls. We meet Sunshine Charley Mitchell, head of the National City Bank, powerful financiers Jack Morgan and Jacob Schiff, Wall Street manipulators such as the legendary Jesse Livermore, and the lavish-living Billy Durant, founder of General Motors. As Klein follows the careers of these men, he shows us how the financial house of cards gradually grew taller, as the irrational exuberance of an earlier age gripped America and convinced us that the market would continue to rise forever. Then, in October 1929, came a "perfect storm"-like convergence of factors that shook Wall Street to its foundations. We relive Black Thursday, when police lined Wall Street, brokers grew hysterical, customers "bellowed like lunatics," and the ticker tape fell hours behind. This compelling history of the Crash--the first to follow the market closely for the two years leading up to the disaster--illuminates a major turning point in our history.
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Rainbow's end: the crash of 1929User Review - Not Available - Book Verdict
Klein (history, Univ. of Rhode Island), a Pulitzer Prize finalist who specializes in American business history, observes that "scholars have yet to determine what actually caused the [1929 stock ... Read full review
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Aimee Aimee Semple McPherson Allen American August automobile average bank's bankers became Benjamin Strong bonds boom brokerage brokers Buhhle Burst bull market call loan Calvin Coolidge cars Chandler Charley Mitchell Chase Coolidge Corporation crash created Day the Buhhle depression Dow Jones Dream Maker economy February Federal Reserve Board firm Fisher Frederick Lewis Allen funds Galbraith Herheet Hoover House of Morgan industry investment trusts J. P. Morgan January Jesse Livermore June Lamont later lbid lnsull lnvestment March margin Mellon merger million shares months Motors National City nearly November October Once in Golconda operators panic Pecora percent Pont pool predicted president production profits Prosperity Decade Raskob record rediscount rate reported securities seemed selling September speculation stock market Street Under Oath Thomas and Morgan-Witts ticker tion trading volume Wall Street Journal Weisberger Wiggin York Stock Exchange
Page xix - ... been the climax of a cycle in American mass thinking and mass emotion. There was hardly a man or woman in the country whose attitude toward life had not been affected by it in some degree and was not now affected by the sudden and brutal shattering of hope. With the big bull market gone and prosperity going, Americans were soon to find themselves living in an altered world which called for new adjustments, new ideas, new habits of thought, and a new order of values. The psychological climate...