The Meltdown Years

The Meltdown Years

The Unfolding of the Global Economic Crisis

Book - 2010
Average Rating:
Rate this:

The Meltdown Years offers the most lucid and useful explanation todate about why home values, life savings, jobsecurity, and investments around the worldare in peril.

Rather than focus on who is to blame,though, author Wolfgang Münchau takes themore practical approach of focusing on what isto blame. The fact that individuals were stupid,greedy, and corrupt should come as no surprise.What's remarkable is that our world'sfinancial systems--put in place to help staveoff such a crisis--failed so miserably.

What is inherently wrong with the globalmonetary system? What happened to theregulatory process? What role did the creditmarket, hedge funds, and investment banksplay? These are the types of questions onemust answer in order to truly comprehendwhat caused the meltdown and, more importantly,to understand what must be done torepair it.

Münchau dissects the global financial system,exposing its flaws and weaknesses in thecontext of the crisis. A decidedly global perspectiveof the greatest financial crisis of ourtime, The Meltdown Years examines

The structure of the worldbanking system Global events that led tofinancial collapse The growth of speculative bubbles The descent from financial crisisinto full-out recession

Pointing to an unstable global economicsystem as the root of the problem, theauthor predicts how long the recession willand illustrates long-term consequences ofthe meltdown.

"Apportioning [individual] blame for thiscrisis may be fun," Münchau writes, "butit is a dead-end road for anyone who seeksan understanding of what happened." AIG,Alan Greenspan, Fannie Mae, Bear Stearns...Each is portrayed as a villain responsible forthe state of the economy. In truth, the blame ismuch broader and lies much deeper.

The Meltdown Years is required readingfor anyone who wants to follow the ongoingdebate about economic recovery and understandwhat the collapse means for the future offinancial capitalism.

Publisher: New York ; Toronto : McGraw-Hill, c2010
ISBN: 9780071634786
Branch Call Number: 332 MUN
Characteristics: v, 266 p. : ill. ; 24 cm


From the critics

Community Activity


Add a Comment
May 29, 2013

"What's remarkable is that our world'sfinancial systems--put in place to help staveoff such a crisis--failed so miserably." Huuuuh? ? ? How about put in place to give the control over the creation and control of money to a select, sociopathic greedheaded few? This is another of those redirectional, misinformational type books. Not surprising that the author, like Gillian Tett, is an employee of the Financial Times. "Apportioning [individual] blame for thiscrisis may be fun, Münchau writes, butit is a dead-end road..." Of course, the author wants us to believe NO ONE is to blame, we all are - - excepting that those who designed the tools to effect the meltdown, profited to the tune of many billions, and trillions, while shoving their debt onto the rest of us!

Age Suitability

Add Age Suitability

There are no age suitabilities for this title yet.


Add a Summary

There are no summaries for this title yet.


Add Notices

There are no notices for this title yet.


Add a Quote

There are no quotes for this title yet.

Explore Further

Browse by Call Number

Subject Headings


Find it at RPL

To Top