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The End of Wall Street
Unavailable
The End of Wall Street
Unavailable
The End of Wall Street
Audiobook11 hours

The End of Wall Street

Written by Roger Lowenstein

Narrated by Erik Synnestvedt

Rating: 4 out of 5 stars

4/5

()

Currently unavailable

Currently unavailable

About this audiobook

The roots of the mortgage bubble and the story of the Wall Street collapse-and the government's unprecedented response-from our most trusted business journalist.The End of Wall Street is a blow-by-blow account of America's biggest financial collapse since the Great Depression. Drawing on 180 interviews, including sit-downs with top government officials and Wall Street CEOs, Lowenstein tells, with grace, wit, and razor-sharp understanding, the full story of the end of Wall Street as we knew it. Displaying the qualities that made When Genius Failed a timeless classic of Wall Street-his sixth sense for narrative drama and his unmatched ability to tell complicated financial stories in ways that resonate with the ordinary reader-Roger Lowenstein weaves a financial, economic, and sociological thriller that indicts America for succumbing to the siren song of easy debt and speculative mortgages.The End of Wall Street is rife with historical lessons and bursting with fast-paced action. Lowenstein introduces his story with precisely etched, laserlike profiles of Angelo Mozilo, the Johnny Appleseed of subprime mortgages who spreads toxic loans across the landscape like wild crabapples, and moves to a damning explication of how rating agencies helped gift wrap faulty loans in the guise of triple-A paper and a takedown of the academic formulas that-once again- proved the ruin of investors and banks. Lowenstein excels with a series of searing profiles of banking CEOs, such as the ferretlike Dick Fuld of Lehman and the bloodless Jamie Dimon of JP Morgan, and of government officials from the restless, deal-obsessed Hank Paulson and the overmatched Tim Geithner to the cerebral academic Ben Bernanke, who sought to avoid a repeat of the one crisis he spent a lifetime trying to understand-the Great Depression.Finally, we come to understand the majesty of Lowenstein's theme of liquidity and capital, which explains the origins of the crisis and that positions the collapse of 2008 as the greatest ever of Wall Street's unlearned lessons. The End of Wall Street will be essential reading as we work to identify the lessons of the market failure and start to rebuild.
LanguageEnglish
Release dateApr 6, 2010
ISBN9781101100455
Unavailable
The End of Wall Street
Author

Roger Lowenstein

Roger Lowenstein reported for the ‘Wall Street Journal’ for over a decade and also wrote colomns for the paper, ‘Heard on the Street’ and ‘Intrinsic Value’. His first book, ‘Buffett: The Making of an American Capitalist’, was a national bestseller. Besides the ‘Journal’, Mr Lowenstein’s work has appeared in the ‘New York Times’ and the ‘New Republic’. He also writes a colomn for ‘SmartMoney Magazine’. He lives in Westfield, New Jersey and has three children.

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Reviews for The End of Wall Street

Rating: 4.176470588235294 out of 5 stars
4/5

17 ratings7 reviews

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  • Rating: 4 out of 5 stars
    4/5
    Lowenstein does a good job of taking the very complex and boiling it down to something accessible to most.
  • Rating: 3 out of 5 stars
    3/5
    Well written. It certainly provides an inside perspective on the financial melt-down events of 2008.
  • Rating: 4 out of 5 stars
    4/5
    A highly readable narrative of the conditions that led to the crash, the reactions (or non-reactions) of major business and governmental actors, and the mop-up operations that handed public money to private interests. I wish his 'afterword' had been a bit more detailed; for instance, it's 2012, we're in a world of record corporate profits (again) and stagnant wages (again), most economic indicators show us slipping into recession (again)- only this time the U.S. government is already in huge debt. Not a very comfortable time, and Lowenstein's the kind of guy who could probably help explain it. Maybe in another book?

    Two small faults: first, it's focused entirely on the U.S., which is a shame, but then, it would have been 800 pages long if he'd tried to describe the international repercussions of this shitstorm. Second, sometimes the stories are a bit too detailed, given how similar they are were. But it's so readable that I didn't mind that too much.
  • Rating: 5 out of 5 stars
    5/5
    The best book on the financial crisis that I've seen.
  • Rating: 4 out of 5 stars
    4/5
    I have read a few books about our recent debacle and this one is excellent. It is also the most up to date. One important thing to think about this. Financial firms have taken on a much greater importance in our economy then they used to. Unfortunately, their negative actions have a much greater impact on us then the misdeeds of other sectors of the economy. When people like Jamie Dimon of JP Morgan complain about changes that will negatively impact his bank's profits, I say a big "who cares". You made so much more money then you deserved relative to your importance so that it is time that banking take its appropriate place in our economy. They have shown themselves to be bad examples of capitalism and deserve the negative consequences of any financial reforms that may come out of Congress.
  • Rating: 4 out of 5 stars
    4/5
    I agree with LynnCar at least so far. Ive read several and will read more till I get to as close as I can to understanding what the heck happened/is happening/will happen.
  • Rating: 4 out of 5 stars
    4/5
    Best overview of market decline in recent crisis.