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Galbraith writes with great wit and erudition about the perilous actions of investors, and the curious inaction of the government. He notes that the problem wasn't a scarcity of securities to buy and sell; "the ingenuity and zeal with which companies were devised in which securities might be sold was as remarkable as anything." Those words become strikingly relevant in light of revenue-negative start-up companies coming into the market each week in the 1990s, along with fragmented pieces of established companies, like real estate and bottling plants. Of course, the 1920s were different from the 1990s. There was no safety net below citizens, no unemployment insurance or Social Security. And today we don't have the creepy investment trusts--in which shares of companies that held some stocks and bonds were sold for several times the assets' market value. But, boy, are the similarities spooky, particularly the prevailing trend at the time toward corporate mergers and industry consolidations--not to mention all the partially informed people who imagined themselves to be financial geniuses because the shares of stock they bought kept going up. --Lou Schuler --This text refers to an out of print or unavailable edition of this title.
As great a book as I had heard it was. Fascinating history.Published 1 month ago by James G Hathcoat
Paints a really clear picture of how and why 1929 crash happened. Very easy read, too. I even laughed out loud in some places - how often does that happen with a book about... Read morePublished 1 month ago by Leon
Where else can one read about the Great Crash and learn something.Published 2 months ago by Max T. Nigh
I read this excellent book several years ago. Loaned it out but lost track years ago. So bought it again! Very important and relate to in the uncertain timesPublished 3 months ago by Charles Michael Hill
Succinct and complete. My favorite. And unlike this demanding review, certainly nothing one should leave upon finishing is at all forceful in purpose.Published 4 months ago by Fussell
A valuable volume with useful insight into what led up to, and why, this crash contributed to the depression of the 1930's. Read morePublished 4 months ago by Creston_CVCS