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Binding: Hardcover
Dewey Decimal Number: 332.04150973
EAN: 9781586485634
ISBN: 1586485636
Label: PublicAffairs
Manufacturer: PublicAffairs
Number Of Items: 1
Number Of Pages: 224
Publication Date: March 03, 2008
Publisher: PublicAffairs
Sales Rank: 1105
Studio: PublicAffairs
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Editorial Review:
Product Description:
We are living in the most reckless financial environmentin recent history. Arcane credit derivativebets are now well into the tens of trillions.According to Charles R. Morris, the astronomicalleverage at investment banks and their hedge fundand private equity clients virtually guarantees massivedisruption in global markets. The crash, whenit comes, will have no firebreaks. A quarter centuryof free-market zealotry that extolled asset stripping,abusive lending, and hedge fund secrecy willcome crashing down with it.
The Trillion Dollar Meltdown explains how wegot here, and what is about to happen. After thecrash our priorities will be quite different. Butthings 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 TrillionDollar Meltdown will be indispensable to understandingthe gross excess that has put the worldeconomy on the brink—and what the new landscapewill look like.
Customer Reviews Average Rating: 
Rating:  - Manias, Panics, and Crashes
Excellent book outlining the ebb and flow of financial crises.Lots of historical examples and very good summaries.
Rating: - CDS, SIVs , HF , $5 - $10 trillion swings in the derivatives market , Hard landings
1. In June 2007, Two Bear Stearns hedge funds that invested primary in mortgage backed bonds announce they were in trouble meeting margin calls.The real estate bust was in progress and the high leverage funds were in trouble, value dropping from indices of 100 to 90.American sub-prime was global and blue chip financial companies admit big losses: Nomura, Royal Bank of Scottland, Lehman Bros, Credit Suise,Deutschebank, France BNP Paribas, IKB, and Caliber and Bank of England had to bail out ... Read More
Rating: - Insightful and balanced
This is a well-written and well-research account of the present financial crisis and it's fun to read as well. The analysis is first class and provides the reader with new insights.
Rating: - Good Insight Into the Inner Workings of the Current Crisis
This book was printed with the intention of providing timely information to the general public. If you take that into consideration this book is indispensable. It provides a good background to the current crisis and the author presents information on some of the inner workings of our financial system that I was totally in the dark about. Overall, a quick and great read, order it sooner than later as the information will not do you any good in 6 months.
Rating:  - Way too technical and I am in the industry
I kept waiting for a conclusion.5 cds of "why", but no opinion as to resolution.Also, too technical for those in "banking" but not in "investment banking".Big difference.Securitization discussion became boring, especially when it ended with no real ending.I know it is too soon to know the outcome, but expected some sort of educated opinion of the future.
The Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crash |
