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The Two Trillion Dollar Meltdown: Easy Money, High Rollers, And The Great Credit Crash (2009)

by Charles R. Morris(Favorite Author)

3.65 of 5 Votes: 1

ISBN

1586486918 (ISBN13: 9781586486914)

languge

English

genre

History & Biography

publisher

PublicAffairs

review 1: This book sells itself as an introduction to what went wrong in the run up to the economic meltdown. To a degree it manages this, however it's definition if a lay-man is based on you having a basic knowledge of economics. It's a relatively dry book but then again it's about banking, a subject that is hard to make sexy. Other than your need to understand elementary economics and being a little slow in places this is a great introduction, you'll understand far more about what happened in the short time it takes to read this work. And when you do you'll be left thinking "what the hell were we all doing" even more so than before.
review 2: Morris is obviously a very left-brained sort of guy, and to get all he says you also need some prior understanding of derivativ... morees, futures, hedge investments, etc., and an interest to know more. As I don't, I skipped over 50% of this book. Where he is strongest for me was in explaining the basic concepts, the bigger picture stuff, and the historical background. Good examples of the first were explaining leverage, liberalism and monetarism; the second were explaining the shift in favoured economic therory by US administrations since WW2, and the shift in managing risk by banks and other investors since the early 1980's; and the third in working up to his conclusions through a selective global financial context since 1900. Especially the early chaperters were good for this, but also all introductions and conclusions. As a voter who is concerned at the dominant sway economists have over government policy, I found much of the book revealing. Very readable and with good doses of humour. less

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