The Trillion Dollar Meltdown
Easy Money, High Rollers, and the Great Credit CrashBook - 2008
Examines American economic policies and trends over the last forty years and analyzes how the free market system has contributed to the current crisis in the credit markets and what the federal government should do to remedy the situation.
The Trillion Dollar Meltdown explains how we got here, and what is about to happen. After the crash our priorities will be quite different. But things are likely to get worse before they better. Whether you are an active investor, a homeowner, or a contributor to your 401(k) plan, The Trillion Dollar Meltdown will be indispensable to understanding the gross excess that has put the world economy on the brink?and what the new landscape will look like.
Blackwell North Amer
We are living in the most reckless financial environment in recent history. According to acclaimed financial writer Charles R. Morris, the sub-prime mortgage crisis is only a preview of the havoc that will play out across the full spectrum of financial assets.
The Trillion Dollar Meltdown 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. Now global confidence in American securities has been shattered, the dollar debased, and the crown jewels of American industry put on auction to foreigners.