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The Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crash
by: Charles R. Morris

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Binding: Hardcover
Dewey Decimal Number: 332.04150973
EAN: 9781586485634
ISBN: 1586485636
Label: PublicAffairs
Manufacturer: PublicAffairs
Number Of Items: 1
Number Of Pages: 224
Publication Date: March 03, 2008
Publisher: PublicAffairs
Sales Rank: 609
Studio: PublicAffairs

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Product Description:

We are living in the most reckless financial environment in recent history. Arcane credit derivative bets are now well into the tens of trillions. According to Charles R. Morris, the astronomical leverage at investment banks and their hedge fund and private equity clients virtually guarantees massive disruption in global markets. The crash, when it comes, will have no firebreaks. 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. 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.

Customer Reviews

Average Rating: out of 5 stars

Rating:

- The Trillion Dollar Meltdown

The beginning was very informative but then becomes bogged down with financial verbage. Hard read for the amature.

Rating:

- Manias, Panics, and Crashes
Excellent book outlining the ebb and flow of financial crises. Lots of historical examples and very good summaries.

Rating:

- CDS, SIVs , HF , $5 - $10 trillion swings in the derivatives market , Hard landings
1. In June 2007, Two Bear Stearns hedge funds that invested primary in mortgage backed bonds announce they were in trouble meeting margin calls. The real estate bust was in progress and the high leverage funds were in trouble, value dropping from indices of 100 to 90. American sub-prime was global and blue chip financial companies admit big losses: Nomura, Royal Bank of Scottland, Lehman Bros, Credit Suise, Deutschebank, France BNP Paribas, IKB, and Caliber and Bank of England had to bail out North Rock..

2. In addition to the Consolidated Debt Obligations there existed a Structured Investment Vehicles (SIVs) financial structure, run within, but separated from the major money center banks. SIVs aer typically Cayman Island limited partnerships that collect bundles of bank loans or other securities. They are convenient for moving assets off bank's balance sheet and apparently have substantial holdings ... Read More

Rating:

- Insightful and balanced
This is a well-written and well-research account of the present financial crisis and it's fun to read as well. The analysis is first class and provides the reader with new insights.

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