The Meltdown Years: The Unfolding of the Global Economic Crisis


The Meltdown Years

offers the most lucid and useful explanation...

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The Meltdown Years: The Unfolding of the Global Economic Crisis

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The Meltdown Years

offers the most lucid and useful explanation to

date about why home values, life savings, job

security, and investments around the world

are in peril.

Rather than focus on who is to blame,

though, author Wolfgang Münchau takes the

more practical approach of focusing on what is

to blame. The fact that individuals were stupid,

greedy, and corrupt should come as no surprise.

What’s remarkable is that our world’s

financial systems—put in place to help stave

off such a crisis—failed so miserably.

What is inherently wrong with the global

monetary system? What happened to the

regulatory process? What role did the credit

market, hedge funds, and investment banks

play? These are the types of questions one

must answer in order to truly comprehend

what caused the meltdown and, more importantly,

to understand what must be done to

repair it.

Münchau dissects the global financial system,

exposing its flaws and weaknesses in the

context of the crisis. A decidedly global perspective

of the greatest financial crisis of our

time, The Meltdown Years examines

  • The structure of the world

    banking system

  • Global events that led to

    financial collapse

  • The growth of speculative bubbles
  • The descent from financial crisis

    into full-out recession

Pointing to an unstable global economic

system as the root of the problem, the

author predicts how long the recession willand illustrates long-term consequences of

the meltdown.

“Apportioning [individual] blame for this

crisis may be fun,” Münchau writes, “but

it is a dead-end road for anyone who seeks

an understanding of what happened.” AIG,

Alan Greenspan, Fannie Mae, Bear Stearns…

Each is portrayed as a villain responsible for

the state of the economy. In truth, the blame is

much broader and lies much deeper.

The Meltdown Years is required reading

for anyone who wants to follow the ongoing

debate about economic recovery and understand

what the collapse means for the future of

financial capitalism.

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Product Details

  • ISBN-13: 9780071634786
  • Publisher: McGraw-Hill Professional Publishing
  • Publication date: 9/8/2009
  • Edition number: 1
  • Pages: 256
  • Product dimensions: 6.20 (w) x 9.10 (h) x 1.10 (d)

Meet the Author

Wolfgang Münchau is an associate editor

of the Financial Times, where he writes a

weekly column about the European Union

and the European economy. Between 1988

and 1995 he held several posts at The Times

newspaper, including Washington and Brussels

correspondent. Wolfgang Münchau lives

in Belgium.

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Table of Contents

1. The Events To Date
2. The Credit Market - A Modern Weapon of Mass Destruction
3. Economic Policy
4. What Happens Next
5. What To Do Now
6. Caveat Emptor - Or What the Crisis Means for Private Investors
Epilogue: When the Crisis is Over
Appendix: A Few Lessons from History
Glossary and List of Abbreviations
Recommended Literature

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