Origins of the Crash: The Great Bubble and Its Undoing

Origins of the Crash: The Great Bubble and Its Undoing

by Roger Lowenstein
Origins of the Crash: The Great Bubble and Its Undoing

Origins of the Crash: The Great Bubble and Its Undoing

by Roger Lowenstein

Paperback(Reprint)

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Overview

With his singular gift for turning complex financial events into eminently readable stories, Roger Lowenstein lays bare the labyrinthine events of the manic and tumultuous 1990s. In an enthralling narrative, he ties together all of the characters of the dot-com bubble and offers a unique portrait of the culture of the era. Just as John Kenneth Galbraith’s The Great Crash was a defining text of the Great Depression, Lowenstein’s Origins of the Crash is destined to be the book that will frame our understanding of the 1990s.

Product Details

ISBN-13: 9780143034674
Publisher: Penguin Publishing Group
Publication date: 12/28/2004
Edition description: Reprint
Pages: 288
Sales rank: 849,697
Product dimensions: 5.30(w) x 8.00(h) x 0.64(d)
Age Range: 18 - 17 Years

About the Author

Roger Lowenstein, author of the bestselling Buffett: The Making of an American Capitalist and When Genius Failed: The Rise and Fall of Long-term Capital Management, reported for the Wall Street Journal for more than a decade and wrote the Journal’s stock market column “Heard on the Street” and also its “Intrinsic Value” column. He now contributes articles and reviews to the Journal and the New York Times Magazine and is a columnist for SmartMoney Magazine. He lives in Westfield, New Jersey.

Read an Excerpt

In the 1970s, a candidate for president advanced the novel proposition that the money in the Social Security system should be funneled into, of all places, the stock market. The candidate’s name was Ronald Reagan. The incumbent president, Gerald Ford, had a good deal of fun with this evidently zany proposition. “I am not sure a lot of people would think it was a very good place to invest funds over the longer period of time,” Ford declared. His advisers had no trouble tarring the idea as kooky. The president likened it to “something dragged out of the sky.” If not certifiably alien, then it might even be—perish the thought—an example of “wild-eyed socialism,” which was no doubt something worse.
(Continues…)



Excerpted from "Origins of the Crash"
by .
Copyright © 2004 Roger Lowenstein.
Excerpted by permission of Penguin Publishing Group.
All rights reserved. No part of this excerpt may be reproduced or reprinted without permission in writing from the publisher.
Excerpts are provided by Dial-A-Book Inc. solely for the personal use of visitors to this web site.

Table of Contents

Acknowledgmentsix
1Origins of a Culture1
2Early Nineties--A Culture Is Rich15
3Enlightenment Gets out of Hand35
4Number Games55
5Doormen at Noon79
6New Economy, Old Errors101
7Enron127
8Bankrupt157
9Year of the Locusts189
10Epilogue217
Notes227
Index259

What People are Saying About This

Arthur Levitt Jr

Roger Lowenstein's writings have helped change the culture of America's executive suites and board rooms. His investigative talent and narrative skills make Origins of the Crash a compelling and fascinating read.
SEC Chairman 1993-2001, and author of Take On the Street: What Wall Street and Corporate American Don't Want You to Know

From the Publisher

"The perfect epitaph to an era of monumental avarice and folly on Wall Street. This is financial history at its best." —Ron Chernow

"A crucial account of an era of excess and folly...riveting...will only seem fresher with time." —BusinessWeek

Ron Chernow

Roger Lowenstein has delivered the perfect epitaph to an era of monumental avarice and folly on Wall Street. Origins of the Crash presents a chilling portrait of the collective lunacy and moral blindness that afflicted the stock market in the late 1990s. With swift, deft strokes, Lowenstein conjures up a rogues' gallery of corporate charlatans, craven accountants and lawyers, and complicit investment bankers that is guaranteed to make your blood boil, your mind race, and your soul recoil. This is financial history at its very best: knowing in its exposure of business trickery, sure in its grasp of market psychology, and eloquent in its fierce, but often poignant, sense of indignation. As newsboys bleated from every street corner after the 1929 Crash, 'Read it and weep.
author of The House of Morgan and Titan and the upcoming Penguin Press title, Alexander Hamilton

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