Rolf Englund IntCom internetional
Easy Money, High Rollers, and the Great Credit Crash
Trillion Dollar Meltdown:
“We are accustomed to thinking of bubbles and crashes in terms of specific markets – like junk bonds, commercial real estate and tech stocks,” he observes.
In addition to this gloom, Morris offers a timely – and eminently readable – potted history of how we got into this mess. In his eyes, the story starts back in the 1970s,
Morris considers this to have been a fabulous achievement ... But Morris concedes that Volcker’s success formed the seed for today’s mess, because the new climate of stability left banks confident enough to crank up their leverage and risk-taking.
Morris’s book is both thought-provoking for experts and a readable primer on events for the layperson.
Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism
Why have markets reached their exposed position? The answer is that success breeds excess.
If the Financial Times' Gillian Tett were hit by a bus, I'd be in a lot of trouble.