A First-Class Catastrophe

The Road to Black Monday, the Worst Day in Wall Street History

Business & Finance, Economics, Economic History, Finance & Investing, Investments & Securities, Nonfiction, History, Americas, United States, 20th Century
Cover of the book A First-Class Catastrophe by Diana B. Henriques, Henry Holt and Co.
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Diana B. Henriques ISBN: 9781627791656
Publisher: Henry Holt and Co. Publication: September 19, 2017
Imprint: Henry Holt and Co. Language: English
Author: Diana B. Henriques
ISBN: 9781627791656
Publisher: Henry Holt and Co.
Publication: September 19, 2017
Imprint: Henry Holt and Co.
Language: English

The definitive account of the crash of 1987, a cautionary tale of how the U.S. financial system nearly collapsed--from the bestselling author of The Wizard of Lies

Monday, October 19, 1987, was by far the worst day in Wall Street history. The market fell 22.6 percent – almost twice as bad as the worst day of 1929 – equal to a one-day loss of nearly 5,000 points today.

Black Monday was more than seven years in the making and threatened nearly every U.S. financial institution. Drawing on superlative archival research and dozens of original interviews Diana B. Henriques weaves a tale of missed opportunities, market delusions, and destructive actions that stretched from the “silver crisis” of 1980 to turf battles in Washington, a poisonous rivalry between the New York Stock Exchange and the Chicago Mercantile Exchange, and the almost-fatal success of two California professors whose idea for reducing market risk spun terribly out of control. As the story hurtles forward, the players struggle to forestall a looming market meltdown and unexpected heroes step in to avert total disaster.

For thirty years, investors, regulators, and bankers have failed to heed the lessons of 1987, even as the same patterns have resurfaced, most spectacularly in the financial crisis of 2008. A First-Class Catastrophe offers a new way of looking not only at the past, but at our financial future as well.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

The definitive account of the crash of 1987, a cautionary tale of how the U.S. financial system nearly collapsed--from the bestselling author of The Wizard of Lies

Monday, October 19, 1987, was by far the worst day in Wall Street history. The market fell 22.6 percent – almost twice as bad as the worst day of 1929 – equal to a one-day loss of nearly 5,000 points today.

Black Monday was more than seven years in the making and threatened nearly every U.S. financial institution. Drawing on superlative archival research and dozens of original interviews Diana B. Henriques weaves a tale of missed opportunities, market delusions, and destructive actions that stretched from the “silver crisis” of 1980 to turf battles in Washington, a poisonous rivalry between the New York Stock Exchange and the Chicago Mercantile Exchange, and the almost-fatal success of two California professors whose idea for reducing market risk spun terribly out of control. As the story hurtles forward, the players struggle to forestall a looming market meltdown and unexpected heroes step in to avert total disaster.

For thirty years, investors, regulators, and bankers have failed to heed the lessons of 1987, even as the same patterns have resurfaced, most spectacularly in the financial crisis of 2008. A First-Class Catastrophe offers a new way of looking not only at the past, but at our financial future as well.

More books from Henry Holt and Co.

Cover of the book Wonder of Wonders by Diana B. Henriques
Cover of the book Reckless Endangerment by Diana B. Henriques
Cover of the book The Nubian Prince by Diana B. Henriques
Cover of the book Dancer by Diana B. Henriques
Cover of the book Turn Right at the Fountain by Diana B. Henriques
Cover of the book Homicide Special by Diana B. Henriques
Cover of the book Scary Stories for Young Foxes by Diana B. Henriques
Cover of the book Young at Art by Diana B. Henriques
Cover of the book Love All by Diana B. Henriques
Cover of the book Make Me a City by Diana B. Henriques
Cover of the book The British Are Coming by Diana B. Henriques
Cover of the book My Name Is Iran by Diana B. Henriques
Cover of the book They Shoot Canoes, Don't They? by Diana B. Henriques
Cover of the book Gold Digger by Diana B. Henriques
Cover of the book The Corner Office by Diana B. Henriques
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy