J P Morgan Co And The Crisis Of Capitalism
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J P Morgan Co And The Crisis Of Capitalism
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Author : Martin Horn
language : en
Publisher: Cambridge University Press
Release Date : 2022-03-03
J P Morgan Co And The Crisis Of Capitalism written by Martin Horn and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-03-03 with Business & Economics categories.
Examines how J.P. Morgan, then the world's leading bank, responded to the greatest crisis in the history of financial capitalism.
House Of Cards
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Author : William D. Cohan
language : en
Publisher: Penguin UK
Release Date : 2009-05-07
House Of Cards written by William D. Cohan and has been published by Penguin UK this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-05-07 with Business & Economics categories.
On the evening of March 16, 2008, Bear Stearns, a swashbuckling eighty-five-year-old institution in the financial world, sold itself for an outrageously low price to the $2 trillion global behemoth JP Morgan Chase. Bear Stearns no longer existed, and the calamitous financial meltdown of 2008 had begun. What went wrong? In House of Cards bestselling author and former investment banker William Cohan gives the reader a front-row seat at Wall Street's catastrophic unravelling at the seams, and the end of the Second Gilded Age on Wall Street. Through the prism of Bear Stearns, he shows how a combination of risky bets, corporate political infighting, lax government regulations and truly bad decision-making have wrought havoc on the world financial system. Cohan's minute-by-minute account of those ten days in March makes for breathless reading, as the bankers at Bear Stearns struggled to contain the cascading series of events that would doom the firm, as the US government and federal bank began to realize the dire consequences for the world economy should the company go bankrupt. But HOUSE OF CARDS does more than recount the incredible panic of the first stages of the financial meltdown. William D. Cohan beautifully demonstrates why the seemingly invincible Wall Street money machine came crashing down. He chronicles the swashbuckling corporate culture of Bear Stearns, the strangely crucial role competitive bridge played in the company's fortunes, the brutal internecine battles for power, and the deadly combination of greed and inattention that helps to explain why the company's leaders ignored the danger lurking in Bear's huge positions in mortgage-backed securities. Full of insider knowledge and larger-than-life characters, such as Ace Greenberg, Bear Stearns' miserly, take-no-prisoners chairman and his profane, colorful rival Jimmy Cayne, whose world-champion-level bridge skills were a lever in his corporate rise and the firm's demise; and Jamie Dimon, the blunt-talking CEO of JPMorgan Chase, who won in the end, House of Cards is a shocking tale of greed, arrogance and stupidity in the financial world, and the consequences for all of us.
The Fall And Rise Of American Finance
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Author : Stephen Maher
language : en
Publisher: Verso Books
Release Date : 2024-02-13
The Fall And Rise Of American Finance written by Stephen Maher and has been published by Verso Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-02-13 with Political Science categories.
How Wall Street concocted a more volatile and dangerous capitalism The Fall and Rise of American Finance traces the collapse and reconstitution of American financial power from the disintegration of robber baron J. P. Morgan’s vast empire to the rise of finance behemoth BlackRock. Contrary to what is taken for common sense by figures from Hillary Clinton to Bernie Sanders, Maher and Aquanno insist that financialization did not imply the hollowing out of the “real” economy or the retreat of the state. Rather, it served to intensify competitive discipline to maximize efficiency, profits, and the exploitation of labor—with the support of an increasingly authoritarian state.
The Hour Of Fate
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Author : Susan Berfield
language : en
Publisher: Bloomsbury Publishing USA
Release Date : 2020-05-05
The Hour Of Fate written by Susan Berfield and has been published by Bloomsbury Publishing USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-05-05 with History categories.
A riveting narrative of Wall Street buccaneering, political intrigue, and two of American history's most colossal characters, struggling for mastery in an era of social upheaval and rampant inequality. It seemed like no force in the world could slow J. P. Morgan's drive to power. In the summer of 1901, the financier was assembling his next mega-deal: Northern Securities, an enterprise that would affirm his dominance in America's most important industry-the railroads. Then, a bullet from an anarchist's gun put an end to the business-friendly presidency of William McKinley. A new chief executive bounded into office: Theodore Roosevelt. He was convinced that as big business got bigger, the government had to check the influence of the wealthiest or the country would inch ever closer to collapse. By March 1902, battle lines were drawn: the government sued Northern Securities for antitrust violations. But as the case ramped up, the coal miners' union went on strike and the anthracite pits that fueled Morgan's trains and heated the homes of Roosevelt's citizens went silent. With millions of dollars on the line, winter bearing down, and revolution in the air, it was a crisis that neither man alone could solve. Richly detailed and propulsively told, The Hour of Fate is the gripping story of a banker and a president thrown together in the crucible of national emergency even as they fought in court. The outcome of the strike and the case would change the course of our history. Today, as the country again asks whether saving democracy means taming capital, the lessons of Roosevelt and Morgan's time are more urgent than ever. Winner of the 2021 Theodore Roosevelt Association Book Prize Finalist for the Presidential Leadership Book Award
The Panic Of 1907
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Author : Robert F. Bruner
language : en
Publisher: John Wiley & Sons
Release Date : 2023-03-02
The Panic Of 1907 written by Robert F. Bruner and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-03-02 with Business & Economics categories.
An authoritative "biography" of one of history's great financial crises with enduring lessons about contemporary finance In this newly-revised second edition, offering 50% entirely new material, The Panic of 1907: Heralding a New Era of Finance, Capitalism, and Democracy, delivers a groundbreaking examination of one of the most consequential crises in financial history. Deftly weaving historical evidence, insightful analysis, and compelling narrative, The Panic of 1907 explains how and why a financial panic unfolds, with lessons that can be applied to our understanding of present-day financial and monetary systems. In the book, you'll find: The reasons why, despite today's stronger monetary regime and risk-mitigation tools, our modern institutions are not immune to future crises Explanations about the development of the United States' Federal Reserve System, which was created in 1913 in direct response to the Panic of 1907 An engaging and entertaining account of an innately fascinating period in financial and economic history, with remarkable leaders and a gallery of rogues An indispensable tale that belongs on the shelves of anyone with an interest in American or financial history, The Panic of 1907 is an expert retelling of one of the most important, but least well-known crises of the last 200 years.
After The Fall
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Author : Nicole Gelinas
language : en
Publisher: Encounter Books
Release Date : 2011-04-19
After The Fall written by Nicole Gelinas and has been published by Encounter Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-04-19 with Political Science categories.
Robust financial markets support capitalism, they don't imperil it. But in 2008, Washington policymakers were compelled to replace private risk-takers in the financial system with government capital so that money and credit flows wouldn't stop, precipitating a depression. Washington's actions weren't the start of government distortions in the financial industry, Nicole Gelinas writes, but the natural result of 25 years' worth of such distortions. In the early eighties, modern finance began to escape reasonable regulations, including the most important regulation of all, that of the marketplace. The government gradually adopted a "too big to fail" policy for the largest or most complex financial companies, saving lenders to failing firms from losses. As a result, these companies became impervious to the vital market discipline that the threat of loss provides. Adding to the problem, Wall Street created financial instruments that escaped other reasonable limits, including gentle constraints on speculative borrowing and requirements for the disclosure of important facts. The financial industry eventually posed an untenable risk to the economy -- a risk that culminated in the trillions of dollars' worth of government bailouts and guarantees that Washington scrambled starting in late 2008. Even as banks and markets seem to heal, lenders to financial companies continue to understand that the government would protect them in the future if necessary. This implicit guarantee harms economic growth, because it forces good companies to compete against bad. History and recent events make clear what Washington must do. First, policymakers must reintroduce market discipline to the financial world. They can do so by re-creating a credible, consistent way in which big financial companies can fail, with lenders taking their warranted losses. Second, policymakers can reapply prudent financial regulations so that markets, and the economy, can better withstand inevitable excesses of optimism and pessimism. Sensible regulations have worked well in the past and can work well again. As Gelinas explains in this richly detailed book, adequate regulation of financial firms and markets is a prerequisite for free-market capitalism -- not a barrier to it.
Did J P Morgan S Men Add Value
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Author : J. Bradford De Long
language : en
Publisher:
Release Date : 1990
Did J P Morgan S Men Add Value written by J. Bradford De Long and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with Corporations categories.
Dividends Of Development
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Author : Mary A. O'Sullivan
language : en
Publisher: Oxford University Press
Release Date : 2016-10-20
Dividends Of Development written by Mary A. O'Sullivan and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-10-20 with Business & Economics categories.
The unprecedented importance of finance in our societies, as well as its central role in provoking economic crises, has generated an enormous interest in understanding the historical origins and evolution of modern financial systems. Today the U.S. economy is seen as an archetype of a capitalist system in which securities markets play a central role. Moreover, these markets have had a high profile in some of the most dramatic moments in U.S. history, often in the context of crises. Dividends of Development: Securities Markets in the History of U.S. Capitalism, 1865-1922, explains how U.S. securities markets became central to the institutional fabric of U.S. capitalism. After the Civil War, these markets had a narrowly circumscribed relationship to the country's real economy, being largely dominated by railroad securities. Moreover, their role in the U.S. financial system was of limited significance given the relatively modest resources that financial institutions committed to investment in, and lending on, corporate securities. That situation was to undergo fundamental change from the Civil War through the end of World War 1 but the development of U.S. securities markets did not occur as a result of a smooth, or even, linear process. Instead, the book shows that the transformation of U.S. securities markets occurred through a process that was volatile and time-consuming, unscripted by powerful actors, and driven, above all else, by the dramatic but unstable character of the nation's economic development. These claims about the trajectory, the operation, and the underlying dynamics of the development of U.S. securities markets are brought together in a novel synthesis that portrays the historical evolution of securities markets in the United States as the "dividends" of the country's distinctive trajectory of economic development.
The Fall And Rise Of American Finance
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Author : Scott Aquanno
language : en
Publisher: Verso Books
Release Date : 2024-01-30
The Fall And Rise Of American Finance written by Scott Aquanno and has been published by Verso Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-01-30 with Political Science categories.
The Fall and Rise of American Finance traces the collapse and reconstitution of American financial power from the disintegration of robber baron J. P. Morgan's vast empire to the rise of finance behemoth BlackRock. Contrary to what is taken for common sense by figures from Hillary Clinton to Bernie Sanders, Maher and Aquanno insist that financialization did not imply the hollowing out of the "real" economy or the retreat of the state. Rather, it served to intensify competitive discipline to maximize efficiency, profits, and the exploitation of labor-with the support of an increasingly authoritarian state.
Capitalism In The 21st Century Why Global Capitalism Is Broken And How It Can Be Fixed
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Author : Donghyun Park
language : en
Publisher: World Scientific
Release Date : 2019-02-25
Capitalism In The 21st Century Why Global Capitalism Is Broken And How It Can Be Fixed written by Donghyun Park and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-02-25 with Business & Economics categories.
'Dr Donghyun Park is a prominent and rare economist in Asia who can combine frontline economic theories, lively data, and real-time policy analyses. Capitalism in the 21st Century is a masterful book by Dr Park, providing a comprehensive understanding of heterogenous trajectories of economies around the globe and more fundamental mechanisms of the modern capitalistic system. This is a 'must-read' for those who are interested in comparative economic systems, global economy, and international development.'Yasuyuki SawadaChief Economist, Asian Development BankProfessor of Economics, University of Tokyo'Donghyun Park makes clear that capitalism gets a bad rap, in large part because of too much emphasis on capital as in financial engineering, and too much emphasis on capitals as in government protectionism. Park argues a compelling case that genuine capitalism, which is about entrepreneurship, is necessary to solve the big problems most people face around the globe.'Adam S PosenPresident, Peterson Institute of International EconomicsGlobal capitalism is currently suffering from an unmistakable malaise, epitomized by wide and growing inequality that is eroding popular support for capitalism. Such anti-capitalist sentiment, coupled with a growing anti-globalization mood, delivered Brexit in a UK referendum and swept Donald Trump to the US presidency. In Capitalism in the 21st Century, internationally well-regarded economist Dr Donghyun Park articulately explains why more capitalism is needed to tackle global problems such as climate change and inhumane poverty. While defending capitalism against its unfair demonization, the author makes a positive case for entrepreneurial capitalism, which creates wealth and jobs as well as drives human progress. According to the author, reforming the financial industry, which has become a self-serving leviathan, and more fundamentally, tweaking the economic role of the government, which stifles growth-promoting entrepreneurship, are critical to restoring the vitality of capitalism. The book is explicitly written in such a way that the general reader without any background in economics or finance can easily understand it.Related Link(s)