The Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crash
by: Charles R. Morris
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Product Description:
The sub-prime mortgage crisis is only the beginning: A more profound economic and political restructuring is on its way.
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.
The sub-prime mortgage crisis is only the beginning: A more profound economic and political restructuring is on its way.
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.
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Customer Reviews
Average Rating:
Rating: - TO UNDERESTAND THE UNIQUE WALLSTREET CRISIS
ANOTHER GOODVIEW OF THE BIG MELTDOWN OF WALLSTEET-
IT IS GOOD REFERENCE TO UNDERSTAND THE COMPLEX ISSSUES THAT CREATED THIS MELTDOWN.
GOOD LENGUAJE AND CLEAR TO UNDERESTAND.
Rating: 
- Trillion Dollar meltdown is right on target.
A quick read to understand why the world economy came unglued.
A must read for any investor.
Something you will share with another person and not put on a shelf.
Rating: - Educational
This book will give you more details about how the US got into the mess we are in now.I actually read this book about 9 months ago but wanted to see how things played out.Knowing what we know now, I wonder if he Chalres Morris will come out with updates and re-title the book to the trillion(s)of dollar meltdown.As each day passes, more information is uncovered about more credit issues which picks up where this book leaves off.This book provides details up to the time it was written but the ... Read More
Rating: - A lucid skewering with curious omissions
Morris gives a lucid and well deserved skewering to Wall Street.He also skewers the Chicago school of thought on free market economics for going too far.He pans Alan Greenspan and worships Paul Volker.
Morris asks why compensation in the financial sector should be so much higher than other sectors of the economy, and this deserves our attention.The financial sector engineered its own melt down so why pay them so much?
One thing that is conspicuous about this book ... Read More
Rating: - The Trillion Dollar Meltdown
It is very interesting book. I could more understand the
sytuation that we are in. We know now that lawmakers have
to do very much, yet.
Very interesting book.
- TO UNDERESTAND THE UNIQUE WALLSTREET CRISISANOTHER GOODVIEW OF THE BIG MELTDOWN OF WALLSTEET-
IT IS GOOD REFERENCE TO UNDERSTAND THE COMPLEX ISSSUES THAT CREATED THIS MELTDOWN.
GOOD LENGUAJE AND CLEAR TO UNDERESTAND.
- Trillion Dollar meltdown is right on target.A quick read to understand why the world economy came unglued.
A must read for any investor.
Something you will share with another person and not put on a shelf.
- EducationalThis book will give you more details about how the US got into the mess we are in now.I actually read this book about 9 months ago but wanted to see how things played out.Knowing what we know now, I wonder if he Chalres Morris will come out with updates and re-title the book to the trillion(s)of dollar meltdown.As each day passes, more information is uncovered about more credit issues which picks up where this book leaves off.This book provides details up to the time it was written but the ... Read More
- A lucid skewering with curious omissionsMorris gives a lucid and well deserved skewering to Wall Street.He also skewers the Chicago school of thought on free market economics for going too far.He pans Alan Greenspan and worships Paul Volker.
Morris asks why compensation in the financial sector should be so much higher than other sectors of the economy, and this deserves our attention.The financial sector engineered its own melt down so why pay them so much?
One thing that is conspicuous about this book ... Read More
- The Trillion Dollar MeltdownIt is very interesting book. I could more understand the
sytuation that we are in. We know now that lawmakers have
to do very much, yet.
Very interesting book.
