Saturday, July 26, 2008
Trillion Dollar Meltdown
This very readable book by Charles Morris is a good account of history, policies, market forces and events that have led to the current financial crisis. The author has also tried to estimate the extent of damage which, judging by the ongoing developments, appears accurate.0 Comments:
For students of economic history, the book provides description of the ‘decade of greed’, which has a number of similarities with the recent leverage and private equity fueled M&A boom. The book also serves as a primer on financial innovations such as CMOs, CDOs and more.
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