The Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crashby Charles R Morris, Nick Summers
The sub-prime mortgage crisis is only the beginning; a more profound economic and political restructuring is on its way. According to Charles R. Morris, the astronomical leverage at investment banks with their hedge fund and private equity clients virtually guarantees massive disruption in global markets. A quarter century of free-market zealotry that extolled… See more details below
The sub-prime mortgage crisis is only the beginning; a more profound economic and political restructuring is on its way. According to Charles R. Morris, the astronomical leverage at investment banks with their hedge fund and private equity clients virtually guarantees massive disruption in global markets. A quarter century of free-market zealotry that extolled asset stripping, abusive lending, and hedge fund secrecy will come crashing down with it. The Trillion Dollar Meltdown explains how we got here, and what is about to happen.
Financial writer Morris explains the current sub-prime mortgage crisis that is affecting countless numbers of families in the United States and the economy as a whole. Morris details, in great length and description, where the market went wrong and the economic downfall that is soon to be ravaging the country and the global market. Nick Summers does his very best to make all of this sound as interesting as he can, but the material is overly depressing and incredibly monotonous. Summers spices things up a bit by offering a slight shift in tone and intention when reading quotes by the big business honchos responsible for the downfall, summoning a cutting sarcasm to portray them in a more comical and often realistic light. All in all, listeners will be hard-pressed to stay the course. A Public Affairs paperback. (Aug.)Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
Morris (Tycoons) explains the subprime mortgage crisis and discusses the sobering reality of how this financial debacle is only the beginning of even more profound economic and political restructuring expected toward the end of 2008 and into 2009. Narrating his second audiobook for Phoenix (after Everything You Know About God Is Wrong), Nick Summers delivers a solid, composed performance. Recommended for learned listeners savvy to the heady complexities of high finance; most relevant to university libraries supporting graduate-level finance and economics curricula. [The PublicAffairs hc, released in March, was a New York Times best seller.-Ed.]
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Meet the Author
Charles R. Morris, the author of "The Trillion Dollar Meltdown, The Tycoons", and "The Cost of Good Intentions", has written for the "New York Times" and "The Atlantic", among other publications. He lives in New York City.
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