Lords of Finance : 1929, the Great Depression, and the Bankers Who Broke the World Paperback
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 Montagu of 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.
- Format: Paperback
- Pages: 576 pages, Illustrations
- Publisher: Cornerstone
- Publication Date: 16/05/2009
- Category: Financial crises & disasters
- ISBN: 9780099493082
Showing 1 - 2 of 2 reviews.
Review by StuartAston
I am not a non fiction reader but really enjoyed this book. The writer shows the history around the Great Depression and the effects before and after the event.How the two great banking powers at the same grew to be four (including the French and Germans) through necessity and to the amount of Gold that each held in their main banks. Also how everyone, though they tried to help the greater good of the larger group, always came back to the main point....how will any changes help them and their nation.Linked to the Gold standards the US grew after the war due to them being the seller of goods needed in Europe. Due to the Germans not wanting to pay reperations you see the lack of will to help each other in Europe. And overall you see the normal banks in it for themselves and not thinking how what they do could impact on the nation in a whole.Read the book and see how many links you make to what is happening now....have to admit I made a few more than I thought I would!
Review by danawl
A great review of the causes of the great depression and the men involved at the highest levels of government.