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. Their names were lost to history,
their lives and actions forgotten, until now.
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. 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.
About the Author
With degrees in economics
from the Universities of Cambridge and Harvard, Liaquat Ahamed has
witnessed at close hand the way countries' economic policy is made
and executed as a professional economist at the World Bank during
the 1980s. He has since worked as an investment manager, with a
ring-side seat at a sequence of financial crises, from the collapse
of the European Monetary System in the 1990s to the current 'sub-prime'
economic downturn. This is his first book.
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