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The Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crash
     

The Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crash

3.7 12
by Charles R. Morris
 

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

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Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crash 3.8 out of 5 based on 0 ratings. 12 reviews.
Anonymous More than 1 year ago
This book is a fantastic play by play of what happened in the credit markets. The only complaint on my part is that it does not go in to detail on how it can be solved or how the economic system will respond.

Good book.
Anonymous More than 1 year ago
Traces the history of financial deregulation from Reagan to George W., and the repeated financial disasters which have resulted, beginning with the 1987 stock market crash (this one actually the result of failure to regulate) and the 1988 Savings and Loan collapse. And continuing through the early '90s junk bond bailout, the '94 CMO debacle, LTCM in '98, the stock market crash in 2000, to the current mess.
Guest More than 1 year ago
Although it was apparently some time in preparation, this book couldn't be more timely. The credit crisis (which extends well beyond the infamous subprime mortgage crisis) is explained in some detail. Some readers might be put off by the financial terminology, but for those who are willing to learn a few (well-explained) terms, this book tells you exactly how & why banks fell into the crisis and how poorly-rate debt such as subprime mortgages was transformed into - or disguised as - high-quality investment grade debt. Well-recommended for those trying to decipher the current financial news.
Anonymous More than 1 year ago
Davidthemightytexan More than 1 year ago
i agree with the previous reviewers that there are no solutions offered here. there won't be. ths book was written with the view of the doctor that diagnoses a cancer patient. it's not a solution, only a conclusion.so it is a good review of our economic train wreck. as the current administration is acting as if they have a geni in a bottle and do not know what to do, consider this book fair warning that the u.s.a is b-r-o-k-e.
Basil More than 1 year ago
"We are accustomed to thinking of bubbles and crashes in terms of specific markets--like junk bonds, commercial real estate, and tech stocks," says Charles R. Morris, author of "The Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crash." "Overpriced assets are like poison mushrooms. You eat them, you get sick, you learn to avoid them." "A credit bubble is different," he notes. "Credit is the air that financial markets breathe, and when the air is poisoned, there's no place to hide." The credit crash he leads us through is a worldwide phenomenon, although Wall Street is obviously an acceptable starting point. If "The Trillion Meltdown" isn't exactly book club fare, it is perfectly clear, free of economic jargon and pretense, and straight to the point (169 narrative pages). Morris is a lawyer, a former banker, and the writer of such notable books as "The Coming Global Boom" and "The Tycoons" (a Barrons' best book of 2005). His latest effort deserves an attentive read by those who wonder why they're poorer now than a year ago.
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Guest More than 1 year ago
Morris does a fabulous job taking the reader over the hills and through the valleys of the buildup to the meltdown.