Author:Liaquat Ahamed
THIS HAS HAPPENED BEFORE.
The current financial crisis has only one parallel: the Wall Street Crash of 1929 and subsequent Great Depression of the 1930s, which crippled the future of an entire generation and set the stage for the horrors of the Second World War. Yet the economic meltdown could have been avoided, had it not been for the decisions taken by a small number of central bankers.
In Lords of Finance, we meet these men, the four bankers who truly broke the world: the enigmatic Norman Montaguof the bank of England, Benjamin Strong of the NY Federal Reserve, the arrogant yet brilliant Hjalmar Schacht of the Reichsbanlk and the xenophobic Emile Moreau of the Banque de France. Their names were lost to history, their lives and actions forgotten, until now. Liaquat Ahamed tells their story in vivid and gripping detail, in a timely and arresting reminder that individuals - their ambitions, limitations and human nature - lie at the very heart of global catastrophe.
'Highly readable... [Ahamed] cannot have foreseen how timely his book would be.
—— Niall Ferguson , FT'Fascinating... a brisk, original, incisive and entertaining account of a crucial time in the world's economic history that continues to affect us all today. Anyone who wants to understand the origins of the economic world we live in would do well to read this book'
—— Michael BeschlossOne of those rare books - authoritative, readable and relevant - that puts the "story" back into history... a spellbinding, richly human [and] cinematic narrative.
—— Strobe TalbottA great read.
—— George SorosAbsorbing [and] provocative, not least because it is still relevant.
—— The Economist'Superlative... a subject of real fascination... Lords of Finance has the flair and wisdom to find a wide readership on the strength of its main ideas.'
—— New York TimesA timely and hugely important book. The GameStop saga shows what happens when the little guy takes on Wall Street at its own game: there can only be one winner. Spencer Jakab is a top-drawer journalist who understands this industry inside out. I can't recommend this book highly enough.
—— Robin Powell, journalist, author and editor of The Evidence-Based InvestorAn important look at how markets - and people - defy prediction and occasionally lose their minds.
—— Morgan Housel, bestselling author of The Psychology of MoneyWhen an ailing video games retailer saw its shares soar into the stratosphere for no reason other than that newbie traders wanted to put one over on arrogant hedge funds, it was hard not to cheer David's felling of Goliath. But in this meticulous examination of the Gamestop saga, Spencer Jakab reminds us of a simple truth - the house, or in this case Wall Street, always wins in the end.
—— Rory Cellan-Jones, former BBC technology correspondentThrumming narrative ... Anybody who buys and sells stocks, and anyone who "invests" in anything old or new, should read this book.
—— Los Angeles Times
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