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The Resource A first-class catastrophe : the road to Black Monday, the worst day in Wall Street history, Diana B. Henriques

A first-class catastrophe : the road to Black Monday, the worst day in Wall Street history, Diana B. Henriques

Creator
Author
Summary
"The definitive account of the crash of 1987, a cautionary tale of how the U.S. financial system nearly collapsed ... 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 loss of nearly 5,000 points today. But Black Monday was more than just a one-day market crash; it was seven years in the making and threatened the entire U.S. financial system. Drawing on superlative archival research and dozens of original interviews, the award-winning financial journalist Diana B. Henriques weaves a tale of ignored warnings, market delusions, and destructive decisions, a drama that stretches from New York and Washington to Chicago and California. Among the central characters are pension fund managers, bank presidents, government regulators, exchange executives, and a pair of university professors whose bright idea for reducing risk backfires with devastating consequences. As the story hurtles toward a terrible reckoning, the players struggle to avoid a national panic, and unexpected heroes step in to avert total disaster. For thirty years, investors, bankers, and regulators have failed to heed the lessons of Black Monday. But with uncanny precision, all the key fault lines of the devastating crisis of 2008--breakneck automation, poorly understood financial products fueled by vast amounts of borrowed money, fragmented regulation, gigantic herdlike investors--were first exposed as hazards in 1987. A First-Class Catastrophe offers a new way of looking not only at the past but at our financial future as well."--Jacket
Language
eng
Work
Publication
Edition
First edition.
Extent
xviii, 393 pages
Note
"A New York Times book."
Contents
  • Part one: Vanishing borders. Silver Thursday ; Bright ideas ; Chicago vs. New York ; Shifting gears ; A deal in D.C. ; Stock futures, bond failures
  • Part two: Titans and wizards. A plague from Oklahoma ; Bulls and banks ; Chicago rising ; Arbitrage and accommodation ; Banks on the brink
  • Part three: Contagion. Mergers and mutations ; Berkeley rising, banks falling ; Witching hours ; Rational markets? ; Pandora's portfolios ; January omens, July alarms
  • Part four: Reckoning. The worst weeks ever ; 508 points ; Juggling hand grenades ; Placing blame, dodging reality
Isbn
9781627791649
Instance
Label
A first-class catastrophe : the road to Black Monday, the worst day in Wall Street history
Title
A first-class catastrophe
Title remainder
the road to Black Monday, the worst day in Wall Street history
Statement of responsibility
Diana B. Henriques
Creator
Author
Subject
Language
eng
Summary
"The definitive account of the crash of 1987, a cautionary tale of how the U.S. financial system nearly collapsed ... 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 loss of nearly 5,000 points today. But Black Monday was more than just a one-day market crash; it was seven years in the making and threatened the entire U.S. financial system. Drawing on superlative archival research and dozens of original interviews, the award-winning financial journalist Diana B. Henriques weaves a tale of ignored warnings, market delusions, and destructive decisions, a drama that stretches from New York and Washington to Chicago and California. Among the central characters are pension fund managers, bank presidents, government regulators, exchange executives, and a pair of university professors whose bright idea for reducing risk backfires with devastating consequences. As the story hurtles toward a terrible reckoning, the players struggle to avoid a national panic, and unexpected heroes step in to avert total disaster. For thirty years, investors, bankers, and regulators have failed to heed the lessons of Black Monday. But with uncanny precision, all the key fault lines of the devastating crisis of 2008--breakneck automation, poorly understood financial products fueled by vast amounts of borrowed money, fragmented regulation, gigantic herdlike investors--were first exposed as hazards in 1987. A First-Class Catastrophe offers a new way of looking not only at the past but at our financial future as well."--Jacket
Cataloging source
DLC
http://library.link/vocab/creatorName
Henriques, Diana B
Dewey number
332.64/273
Index
index present
LC call number
HG4551
LC item number
.H425 2017
Literary form
non fiction
Nature of contents
bibliography
http://library.link/vocab/subjectName
  • Stock Market Crash, 1987
  • Financial crises
  • Stock exchanges
  • Finance
Label
A first-class catastrophe : the road to Black Monday, the worst day in Wall Street history, Diana B. Henriques
Instantiates
Publication
Copyright
Note
"A New York Times book."
Bibliography note
Includes bibliographical references and index
Carrier category
volume
Carrier category code
nc
Carrier MARC source
rdacarrier
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Contents
Part one: Vanishing borders. Silver Thursday ; Bright ideas ; Chicago vs. New York ; Shifting gears ; A deal in D.C. ; Stock futures, bond failures -- Part two: Titans and wizards. A plague from Oklahoma ; Bulls and banks ; Chicago rising ; Arbitrage and accommodation ; Banks on the brink -- Part three: Contagion. Mergers and mutations ; Berkeley rising, banks falling ; Witching hours ; Rational markets? ; Pandora's portfolios ; January omens, July alarms -- Part four: Reckoning. The worst weeks ever ; 508 points ; Juggling hand grenades ; Placing blame, dodging reality
Control code
ocn981557999
Dimensions
25 cm
Edition
First edition.
Extent
xviii, 393 pages
Isbn
9781627791649
Lccn
2017002890
Media category
unmediated
Media MARC source
rdamedia
Media type code
n
System control number
(OCoLC)981557999
Label
A first-class catastrophe : the road to Black Monday, the worst day in Wall Street history, Diana B. Henriques
Publication
Copyright
Note
"A New York Times book."
Bibliography note
Includes bibliographical references and index
Carrier category
volume
Carrier category code
nc
Carrier MARC source
rdacarrier
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Contents
Part one: Vanishing borders. Silver Thursday ; Bright ideas ; Chicago vs. New York ; Shifting gears ; A deal in D.C. ; Stock futures, bond failures -- Part two: Titans and wizards. A plague from Oklahoma ; Bulls and banks ; Chicago rising ; Arbitrage and accommodation ; Banks on the brink -- Part three: Contagion. Mergers and mutations ; Berkeley rising, banks falling ; Witching hours ; Rational markets? ; Pandora's portfolios ; January omens, July alarms -- Part four: Reckoning. The worst weeks ever ; 508 points ; Juggling hand grenades ; Placing blame, dodging reality
Control code
ocn981557999
Dimensions
25 cm
Edition
First edition.
Extent
xviii, 393 pages
Isbn
9781627791649
Lccn
2017002890
Media category
unmediated
Media MARC source
rdamedia
Media type code
n
System control number
(OCoLC)981557999

Subject

Library Locations

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