• The Trillion Dollar Meltdown

  • Easy Money, High Rollers, and the Great Credit Crash
  • By: Charles R. Morris
  • Narrated by: Nick Summers
  • Length: 5 hrs
  • Unabridged Audiobook
  • Release date: 06-06-08
  • Language: English
  • Publisher: Phoenix Books
  • 4 out of 5 stars 3.9 (172 ratings)

Regular price: $19.56

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Publisher's Summary

The sub-prime mortgage crisis is only the beginning; a more profound economic and political restructuring is on its way. According to Charles R. Morris, the astronomical leverage at investment banks, with their hedge-fund and private-equity clients, virtually guarantees massive disruption in global markets. A quarter century of free-market zealotry that extolled asset striping, 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.
©2008 Charles R. Morris (P)2008 Phoenix Audio
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Critic Reviews

"In his brief but brilliant book, Morris describes how we got into the mess we are in....Few writers are as good as Morris at making financial arcana understandable and even fascinating." ( New York Times Book Review)
"[A] shrewd primer....[Morris] writes with tight clarity and blistering pace." ( Bloomberg News)
"Morris deftly joins the dots between the Keynesian liberalism of the 1960s, the crippling stagflation of the 1970s and the free-market experimentation of the 1980s and 1990s, before entering the world of ultra-cheap money and financial innovation gone mad." ( The Economist)
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Customer Reviews

Most Helpful
5 out of 5 stars
By Nelson Alexander on 06-20-08

Very Illuminating

Excellent overview of the current financial crisis, which ain't over yet, alas. The author's viewpoint is moderately liberal, somewhat pessimistic but quite judicious and knowledgeable, not given to leftist screed or Chicago School boosterism. As of this writing, the book is also surprisingly current. In the later chapters the acronyms of the credit default swaps and all those new whirligig financial instruments fly by, but you get the idea. It's confusing because it was indeed confusing, even to bankers. Which was part of the problem. You will especially enjoy this book if, like me, you read Greenspan's book and were horrified to hear the man in charge of our monetary machine enthuse over Ayn Rand and gush like a neocon junior staffer over the magic power of markets. Well, we are all neck deep in the "magic of markets" now and will be digging ourselves out for years. Oh, be advised this book is general, in the best sense. More forest than trees. Not a book of details, inside stories, or personalities, which is fine by me. Hope Audible will get more on this topic.

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20 of 20 people found this review helpful

5 out of 5 stars
By Kenneth on 12-26-08

The Advanced Introduction

If you have analytical training, but don't understand modern finance, especially the kind at the hart of the current crisis, this book will explain it starting from basic concepts. It is ideally suited for engineers and scientists who can follow the mathematical concepts without a lot of hand holding, but really need an introduction to the relevant financial insterments.

If you don't understand the difference between a long position and a short position or basic concepts about the stock market or if you don't have some intuition for probability this is probably too difficult a read. If you are a financial professional it's probably too elementary. But for many it will be the perfect balance.

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5 of 5 people found this review helpful

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Customer Reviews

Most Helpful
3 out of 5 stars
By Neeladrinath on 02-26-11

A good listen, well researched.

The book comprehensively covers the crisis - causes, origin, events, fallout and possible future outcomes. The last aspect is slightly overdone - highly cynical/negative expectations. The crisis is unprecedented but follow-on collapses in other asset classes, though quite reasoned is perhaps improbable. These were my thoughts after listening to the book in Mar 2009. Thus far, my opinion seems correct. A great listen to understand the crisis.

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1 of 1 people found this review helpful

2 out of 5 stars
By Martin on 01-11-12

A bit of a struggle

I am very much into economics and finance, and was looking forward to this. However, I was very very disappointed with this one, and I just could not get into it. I admit that the problem here could be me, maybe I'm just not as bright or as knowledgeable on the subject as I thought. I suspect there probably is a good book in here, but I don't think this can be recommended for people who only have a limited understanding of the subject. Certainly not for beginners.

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0 of 1 people found this review helpful

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