Previously published as The Trillion Dollar Meltdown Now fully updated with the latest financial developments, this is the bestselling book that briefly and brilliantly explains how we got into the economic mess that is the Credit Crunch. With the housing markets unravelling daily and distress signals flying throughout the rest of the economy, there is little doubt that we are facing a fierce recession. In crisp, gripping prose, Charles R. Morris shows how got into this mess. He explains the arcane financial instruments, the chicanery, the policy misjudgments, the dogmas, and the delusions that created the greatest credit bubble in world history. Paul Volcker slew the inflation dragon in the early 1980s, and set the stage for the high performance economy of the 1980s and 1990s. But Wall Street's prosperity soon tilted into gross excess. The astronomical leverage at major banks and their hedge fund and private equity clients led to massive disruption in global markets. A quarter century of free-market zealotry that extolled asset stripping, abusive lending, and hedge fund secrecy will go down in flames with it. Continued denial and concealment could cause the crisis to stretch out for years, but financial and government leaders are still downplaying the problem. The required restructuring will be at least as painful as the very difficult period of 1979-1983. The Two Trillion-Dollar Meltdown , updated to include the latest financial developments, is indispensable to understanding how the world economy has been put on the brink.

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

About the Author
Charles R. Morris has written eleven books, most recently The Tycoons, a Barrons' Best Book of 2005. A lawyer and former banker, Mr. Morris's articles and reviews have appeared in many publications including The Atlantic Monthly, the New York Times, and the Wall Street Journal.

Reviews
"New York Times Notable Book of the Year" "[The Trillion Dollar Meltdown] is an absolutely excellent narrative of the horror that we have in the credit markets right now... It's a wonderful explanation of how it happened and why it's so rotten, and why it will take a long time to unwind."-Paul Steiger, former Mng Editor,



Book Information
ISBN 9781586486914
Author Charles Morris
Format Paperback
Page Count 240
Imprint PublicAffairs,U.S.
Publisher PublicAffairs,U.S.
Weight(grams) 300g
Dimensions(mm) 208mm * 140mm * 16mm