The Moneychangers

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Overview

Upton Sinclair writes an historic novel concerning the Wall Street scare of 1907. He describes how several formidable capitalists organize the fall of a rival trust company. The ruin of this enterprise effects a stock market crash and a bank run; the ultimate cost is the loss of thousands of jobs which throws the world into financial chaos. Allan Montague, a prosperous New York lawyer, relates the story through his introduction to many of the power players who have invested millions in the stock market. By using ...
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The Moneychangers

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Overview

Upton Sinclair writes an historic novel concerning the Wall Street scare of 1907. He describes how several formidable capitalists organize the fall of a rival trust company. The ruin of this enterprise effects a stock market crash and a bank run; the ultimate cost is the loss of thousands of jobs which throws the world into financial chaos. Allan Montague, a prosperous New York lawyer, relates the story through his introduction to many of the power players who have invested millions in the stock market. By using fronts and shill companies these powerful men allege that their only aim is to sell things--but they do not actually make anything. Because of this ruse, the public and the government put money into the soon-to-be-bankrupt companies created by these confidence men. They aren't really interested in the investments but, rather, they exist to outmaneuver the other player. Sinclair uncovers the evidence of backroom thievery and the direct manipulation of the stock market. He wanted to present this situation fictitiously to the American public and show them that if it actually occurred, the turmoil would be real.
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Product Details

  • ISBN-13: 9781595476968
  • Publisher: NuVision Publications
  • Publication date: 5/23/2008
  • Pages: 192
  • Product dimensions: 6.00 (w) x 9.00 (h) x 0.44 (d)

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  • Posted April 14, 2010

    I can't believe this was written in 1908 more like 2008!

    The Money Changers by Upton Sinclair

    It is hard to believe that this book was written over 100 years ago even prior to the 1929 crash. How very poignant that many of the shenanigans pulled prior to the regulations placed on banks after the crash of 1929 were so highlighted in this book. And how after the removal of many of those regulations the banks began the reckless behavior that brought about the current banking bailouts of 2008!

    This entertaining story with all the entrapments of society and life of 1908 is eye opening. I highly recommend it for book clubs - you will be amazed at the discussion it brings out. I can only imagine many a professors and/or teachers pulling out their old copy's to add to their reading lists.

    Some of the most unimaginable parts (the wire tapping, private eye investigations, cleaning people paid to collect garbage, etc) and many other researching techniques used today were in use then! The journalist in the story tells of how story after story are quashed by the monied and powerful which is so uncannily linked to today's TV news, it is frightening. Storyline after storyline mirror society today I can't imagine anyone not being able to relate to some part of this story, which made one of the most enjoyable reads.

    Was this review helpful? Yes  NoThank you for your feedback.   Report this reviewThank you, this review has been flagged.
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