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The Trillion Dollar Meltdown: Easy Money, High Rollers, And The Great Credit Crash (2008)

by Charles R. Morris(Favorite Author)

3.65 of 5 Votes: 2

ISBN

1586485636 (ISBN13: 9781586485634)

languge

English

genre

History & Biography

publisher

PublicAffairs

review 1: Interestingly, when the hardcover version of this was published in early 2008, the title was the Trillion Dollar Meltdown (as in, singular). By the time this paperback came out later the same year, it was up to Two Trillion. Conclusion, regardless of which version you read: the mess just gets bigger and bigger. Although short, this book is immensely informative, and largely comprehensible, even to someone like me with absolutely no financial background. Whether you're familiar with CDOs, CMOs, derivatives, hedge funds and monolines or not, you will grasp this much: we can thank bankers and politicians for the deep trouble we are in right now, and the current recession may be just the tip of the iceberg. This should be required reading for anyone who esteems Greenspan as Go... mored, and thinks the unregulated market will fix everything.
review 2: Its a short read, that is loaded with info. Great book exposing you to systemic risk, and exploding debt dynamics. A great book on the systemic risks the world faced at the onset of 2008 in the US. You'll see the money multiplier in action and gain a deeper understanding of the money supply. You will learn the origins of cmo's, and cdo's in the Texas Saving and Loan Crisis. You'll also learn the origination of tranches within them and their purpose. Ill give you a hint "marketing" but you'll understand it better because its in its historical context. This book was also my first exposure to Voulkner. Its a truly great read. You will absolutely love it, and expand the boundaries of you reasoning more so per page than most other books you ever read. less

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