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The Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crash | 
| Author: Charles R. Morris
Publisher: PublicAffairs
Category: Book
List Price: $22.95
Buy New: $10.95
You Save: $12.00 (52%)
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Avg. Customer Rating:  63 reviews
Sales Rank: 94
Media: Hardcover
Number Of Items: 1
Pages: 224
Shipping Weight (lbs): 0.8
Dimensions (in): 8.3 x 5.8 x 0.9
ISBN: 1586485636
Dewey Decimal Number: 332.04150973
EAN: 9781586485634
ASIN: 1586485636
Publication Date: March 3, 2008
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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.
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| Customer Reviews: Read 58 more reviews...
 Upset by the financial crises, and puzzled too? Read this October 13, 2008
This book came out in early March '08, long before the financial collapse. Yet here is what he predicts: "In this book I lay out...the likely course of writedowns and defaults...It comes out to about $1 trillion. Scary as that number is, it assumes an orderly deleveraging. But...There will inevitably be margin calls, panicked selling..." (p xiii).
Yes, he is accurate. Very, terrifyingly accurate.
He is also a good writer, and he will walk you through the entire nasty process of how we got here and what we can do to get out. Even for those who hate finances will find this book clear and easy to read and understand.
Excellent October 11, 2008
1 out of 1 found this review helpful
What many reviewers have not mentioned is that, despite the serious subject, the author is a very entertaining writer.
For instance, on post-WWII industry in the US:
'Like flightless birds on a predator free island, American companies had no defenses when hungry and hard-eyed competitors finally came hunting from overseas'
The author also provides a very good description of the financial instruments that got us into thiscredit hell. I know have, at least, some idea of what a synthetic CDO is, or, hopefully, was.
This book should be required reading for congress and members of the executive branch October 10, 2008
1 out of 1 found this review helpful
A well researched and reasoned analysis of the current financial crisis. The author's assessment of the economic and political forces that have resulted in the current crisis are presented in an understandable and balanced manner. He exposes the complicated financial instruments created and the excessive risks taken within our financial markets in the name of greater returns and paints a dire picture of the consequences that the eventual unwinding of these assets may have. Finally, he provides a tempered approached for future regulation of our financial markets.
The author's insight and presentation style leave the reader with a sense that there is someone who acutally has a sense of what's going on and that these current problems may be correctable if reasonable men are allowed to prevail.
Deja'Vu October 6, 2008
3 out of 3 found this review helpful
I no sooner finished reading this book than we all started living it. What we are watching unfold on Wall Street and in Washingtion D.C. is exactly what was fortold, in excruciating detail.
I read this book 6 months ago....wow September 30, 2008
5 out of 5 found this review helpful
Around 6 months ago I read this book. Talk about timeliness!! it deserves many accolades, I will definately read anything else this author publishes!
Excellent read, intelligent, concise and understandable for all.
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