The Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crash
We are living in the most reckless financial environment in recent history. Arcane credit derivative bets are now well into the tens of trillions. According to Charles R. Morris, the astronomical leverage at investment banks and their hedge fund and private equity clients virtually guarantees massive disruption in global markets. The crash, when it comes, will have no firebreaks. A quarter century of free-market zealotry that extolled asset stripping, abusive lending, and hedge fund secrecy will come crashing down with it.
The Trillion Dollar Meltdown explains how we got here, and what is about to happen. After the crash our priorities will be quite different. But things are likely to get worse before they better. Whether you are an active investor, a homeowner, or a contributor to your 401(k) plan, The Trillion Dollar Meltdown will be indispensable to understanding the gross excess that has put the world economy on the brink—and what the new landscape will look like.
What people are saying - Write a review
LibraryThing ReviewUser 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 ReviewUser 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
Chapter Two Wall Street Finds Religion
Chapter Four A Wall of Money
5 other sections not shown