Money, Greed, and Risk : Why Financial Crises and Crashes Happen
Author: Charles Morris
List Price: $25.00
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ISBN: 0812931734
Publisher: Crown Business (27 July, 1999)
Sales Rank: 38,072
Average Customer Rating: 3.75 out of 5
Customer Reviews
Rating: 3 out of 5
Rough going for the amateur economist
I found this to be a very well written and interesting book and learned a great deal, but much of the book was over my head. An example: "...They [Barings] were the major underwriters of the bonds for the Louisiana Purchase, and in the 1820s rapidly expanded their underwritings of American state bonds to finance internal improvements. But the bookkeeping on their securities was still following trade-based forms. Issuers of bonds were authorized to draw bills of exchange on the Barings, which they would cover by forwarding the new securities to London, just as merchants would cover a trade bill by forwarding the documents on a cotton cargo." A substantial portion of the book is similarly written, but balanced by a healthy dose of colorful characters and sharp opinions by Morris.
Rating: 2 out of 5
Nothing new...
Charles Morris' book, despite its historical depth, falls short of providing a new insight on financial crises. This book is great for starters but cannot compete against Chancellor's "devil take the hindmost" or Kindleberger's "manias, panics and crashes". Clearly a dominated asset...
Rating: 5 out of 5
The Wisdom of Historical Perspective on Today's Market
An excellent book for the serious investor who wants historical perspective on the market changes happening today. It's added gift is that it will imbue its reader with the knowledge to preserve wealth and actually profit whenever the next financial crisis comes, since the author proves that there is not much new in modern crises, and their prescriptions, that couldn't be found in crises a hundred years ago. The author serves the reader well by constantly pointing out the irresponsibility of the nation's bankers and financial institutions especially when motivated by greed- "the opportunity to fleece the greedy proved irresistible," The author possesses the rare skill of being able to see the wood for the trees and of relating that to his readers. The foreword is right on. Similar Products
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