The Two Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crash

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PublicAffairs, 2008 - Business & Economics - 208 pages
12 Reviews
Previously published asThe 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.

 

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LibraryThing Review

User Review  - rocketjk - LibraryThing

In 2008, economic analyst and former banker Charles R. Morris published The Trillion Dollar Meltdown, outlining the global economy's credit woes and detailing the events he thought would follow. A ... Read full review

LibraryThing Review

User Review  - jphillips3334 - LibraryThing

A good place to start to get a grasp of the global financial crisis and what led up to the current global economic situation. Don't worry if you don't have a finance or economic background, you'll ... Read full review

Contents

Chapter One The Death of Liberalism
1
Chapter Two Wall Street Finds Religion
19
Practice Runs
37
Chapter Four A Wall of Money
59
Chapter Five A Tsunami of Dollars
87
Chapter Six The Great Unwinding
113
Chapter Seven Picking through the Shards
143
Chapter Eight Recovering Balance
161
Notes
179
Index
193
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About the author (2008)

Charles R. Morris has written eleven books, most recently The Tycoons, a Barrons’ Best Book of 2005. 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.

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