Two trillion meltdown

"How we got into the mess we're in, explained briefly and brilliantly." -New York Times Book Review

THE TWO TRILLION DOLLAR

MELTDOWN
The New York Times Bestseller

EASY MONEY, HIGH ROLLERS AND THE GREAT CREDIT CRASH

Charles R.

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We are living in the most uncertain financial environment in recent history. A quarter-century of reckless lending, asset stripping, freemarketzealotry and hedge-fund secrecy has ended with a dramatic collapse. And, according to Charles R. Morris, an even more profound economic and political restructuring is on its way. In The Two Trillion Dollar Meltdown, Morris explains how we got here and what we can expect next. With insight and clarity, he cuts through the guff to provide an indispensable guide to confusing times.

"Millions ofwords havebeen written about the ongoingfinancial disaster ... But the most concise and easiest to understand is almost certainly Charles R. Morriss ... The book explains in clear language exactly what happened and why." -THE TEXAS OBSERVER ''Morris provides a comprehensive andjargon:free description ofthe hideously complexfinancial securities that have brought the credit system to collapse. It is aremarkable story." -THE SUNDAY TIMES ''Deserves a spot on any bedside reading table ... a truly profound account." -BUSINESS WEEK

R. MORRIS is a lawyer and former banker. He is the author of ten books, including The Cost ofGood Intentions, Money, Greed and Risk and The Tycoons. He has written for the Atlantic Monthly, the New York Times and the Wall Street Journal.
CHARLES

ISBN 9781863954266www.blackincbooks.com
Cover IllustratIOn: Jeff Fisher. Cover design: Thomas Deverall

9 781863 954266

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PRAISE FOR THE PREVIOUS EDITION OF THE TWO TRILLION DOLLAR MELTDOWN

A New York Times bestseller A Wall Street Journal bestseller
"Few writers are as good as Morris at making financial arcana understandable and even fascinating." -Floyd Norris, New York Times Book Review
"[TheTrillion Dollar Meltdown] is an absolutely excellent narrative of the horror that we have in the credit markets right now. It's a wonderful explanation of how it happened and why it's so rotten, and why it will take a long time to unwind." -Paul Steiger, editor-in-chief, ProPublica, and former managing editor, The Wall Street Journal

"[A] shrewd primer.... [Morris] writes with tight clarity andblistering pace." -James Pressley, Bloomberg News "Morris, a former banker, [earned] rock-solid status as a predictor of the crash. He homes in on the complexity and the paradoxical unpredictability of these financial instruments, which were supposed to manage risk and ended up magnifYing it." -New Yorker "Morris provides a comprehensive and jargon-free description of the hideously complexfinancial securities that have brought the credit system to collapse. It is a remarkable story." -Sunday Times (London) "Charles Morris provides an excellent and timely analysis of the origins, causes, and turbo-charged financial engineering that allowed cheap and excessive debt to create a bloated financial system." -Satyajit Das, author of Traders, Guns & Money: Knowns & Unknowns in the Dazzling WorldofDerivatives

''Amid the hyperbole, several financial-scare books stand out for their high credibility and low hysteria. The Trillion Dollar Meltdown by Charles R. Morris ... avoid[s] the wild predictions of mass economic destruction, instead giving thoughtful, if alarming, histories and analyses of how we got into the mess we're in today." -Susan Antilla, Bloomberg News "Charles Morris,author of The Trillion Dollar Meltdown, isn't one for sugarcoating. His analysis is dour and grim, but certainly not dull. And when read against a backdrop of an ever-weaker economy, increasingly anxious economists, and a stream of gloomy predictions, it can be downright scary. Morris serves up a sharp, thoughtprovoking historical wrap-up of the U.S. economy and its markets, along with clear...