The Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crash
by: Charles R. Morris
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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.
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.
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Customer Reviews
Average Rating:
Rating: 
- Superficial
I don't know why I expected a better book to be written about the crisis we are still in, but I did.
I found this book to be superficial. It is a small book and it spread itself too thin and tried to comment on too much without any depth.
Rating: 
- Best synthesis I have seen yet
Friends and colleagues have been asking me repeatedly what is going on.This book helped me give reasonable answers, and I have recommended it to everyone who has asked.Mr. Morris speaks with the authority of an insider and conveys his knowledge in clear, direct language.Don't expect the juicy gossip and anecdotes that some other recent books on this topic have used to entice readers.This book is hard-nosed and business-like.And yet, still eminently readable.
I was trained as ... Read More
Rating: - A Guided Tour Through Disaster
This is a wonderful book for organizing the unfolding train wreck that is the world economy in late 2008. The author explains what forces led to the situation, how financiers and mathematicians used computer modeling to create complex, world-spanning organizations that led to quick, juicy profits, and how the assumptions upon which these structures were based denied the liklihood of sufficient risk to destroy the whole structure. It is a quick read but heavy on acronyms. I found a second reading helped ... Read More
Rating: - Fantastic Primer for Beginners
If terms like CDOs, tranches, CDS, LIMBOR, and SIVs throw you for a loop, this is a great book to get up to speed. Charles R. Morris puts the credit crunch in its context in 169 succinct pages. He's a former banker and he doesn't waste your time. Sure, it could have been longer, but then it wouldn't be as easy to read. The scariest thing about this book is it was written BEFORE the panic we are witnessing, but it accurately predicted it. It took the rest of us a lot longer to see the impossible hole we ... Read More
Rating: - A Page Turner
I just happened to pick up this book at the library, and now I can't put it down.It describes, in a succint and clear manner, exactly how we got into the current financial crisis.I'm recommending it to everyone I know.
- SuperficialI don't know why I expected a better book to be written about the crisis we are still in, but I did.
I found this book to be superficial. It is a small book and it spread itself too thin and tried to comment on too much without any depth.
- Best synthesis I have seen yetFriends and colleagues have been asking me repeatedly what is going on.This book helped me give reasonable answers, and I have recommended it to everyone who has asked.Mr. Morris speaks with the authority of an insider and conveys his knowledge in clear, direct language.Don't expect the juicy gossip and anecdotes that some other recent books on this topic have used to entice readers.This book is hard-nosed and business-like.And yet, still eminently readable.
I was trained as ... Read More
- A Guided Tour Through DisasterThis is a wonderful book for organizing the unfolding train wreck that is the world economy in late 2008. The author explains what forces led to the situation, how financiers and mathematicians used computer modeling to create complex, world-spanning organizations that led to quick, juicy profits, and how the assumptions upon which these structures were based denied the liklihood of sufficient risk to destroy the whole structure. It is a quick read but heavy on acronyms. I found a second reading helped ... Read More
- Fantastic Primer for BeginnersIf terms like CDOs, tranches, CDS, LIMBOR, and SIVs throw you for a loop, this is a great book to get up to speed. Charles R. Morris puts the credit crunch in its context in 169 succinct pages. He's a former banker and he doesn't waste your time. Sure, it could have been longer, but then it wouldn't be as easy to read. The scariest thing about this book is it was written BEFORE the panic we are witnessing, but it accurately predicted it. It took the rest of us a lot longer to see the impossible hole we ... Read More
- A Page TurnerI just happened to pick up this book at the library, and now I can't put it down.It describes, in a succint and clear manner, exactly how we got into the current financial crisis.I'm recommending it to everyone I know.
