Booked by HooksBookEvents: Friday, March 26, 2010
Book: Lords of Finance: The Bankers Who Broke the World
Author: Liaquat Ahamed
Publisher: Penguin, 2009
About the Author – Liaquat Ahmed has been a professional investment manager for twenty-five years. He has worked at the World Bank in Washington D.C., and the New York-based partnership of Fischer Francis Trees and Watts, where he served as chief executive.
About the Book – “A magisterial work…You can’t help thinking about the economic crisis we’re living through now.” —_The New York Times Book Review_
It is commonly believed that the Great Depression that began in 1929 resulted from a confluence of events beyond any one person’s or government’s control. In fact, as Liaquat Ahamed reveals, it was the decisions made by a small number of central bankers that were the primary cause of that economic meltdown, the effects of which set the stage for World War II and reverberated for decades. As yet another period of economic turmoil makes headlines today, Lords of Finance is a potent reminder of the enormous impact that the decisions of central bankers can have, their fallibility, and the terrible human consequences that can result when they are wrong.