The Two Trillion Dollar Meltdown and over one million other books are available for Amazon Kindle. Learn more
Qty:1
  • List Price: $27.95
  • Save: $16.77 (60%)
FREE Shipping on orders over $35.
Only 13 left in stock.
Ships from and sold by Amazon.com.
Gift-wrap available.
The Trillion Dollar Meltd... has been added to your Cart
+ $3.99 shipping
Used: Acceptable | Details
Sold by -importcds
Condition: Used: Acceptable
Comment: Showing heavu scratches on few disc/missing one disc/packaging appears torn.
Have one to sell? Sell on Amazon
Flip to back Flip to front
Listen Playing... Paused   You're listening to a sample of the Audible audio edition.
Learn more
See this image

The Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crash Audio CD – Bargain Price, July 1, 2008


See all 10 formats and editions Hide other formats and editions
Amazon Price New from Used from
Kindle
"Please retry"
Audio CD, Bargain Price
"Please retry"
$11.18
$5.13 $2.92

This is a bargain book and quantities are limited. Bargain books are new but could include a small mark from the publisher and an Amazon.com price sticker identifying them as such. Details

Simple Rules by Donald Sull
Simple Rules by Donald Sull
Check out the newest book by Donald Sull. Learn more | See related books
$11.18 FREE Shipping on orders over $35. Only 13 left in stock. Ships from and sold by Amazon.com. Gift-wrap available.

Special Offers and Product Promotions


Editorial Reviews

From Publishers Weekly

Financial writer Morris explains the current sub-prime mortgage crisis that is affecting countless numbers of families in the United States and the economy as a whole. Morris details, in great length and description, where the market went wrong and the economic downfall that is soon to be ravaging the country and the global market. Nick Summers does his very best to make all of this sound as interesting as he can, but the material is overly depressing and incredibly monotonous. Summers spices things up a bit by offering a slight shift in tone and intention when reading quotes by the big business honchos responsible for the downfall, summoning a cutting sarcasm to portray them in a more comical and often realistic light. All in all, listeners will be hard-pressed to stay the course. A Public Affairs paperback. (Aug.)
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.

Review

Morris (Tycoons) explains the subprime mortgage crisis and discusses the sobering reality of how this financial debacle is only the beginning of even more profound economic and political restructuring expected toward the end of 2008 and into 2009. Narrating his second audiobook for Phoenix (after Everything You Know About God Is Wrong), Nick Summers delivers a solid, composed performance. Recommended for learned listeners savvy to the heady complexities of high finance; most relevant to university libraries supporting graduate-level finance and economics curricula. [The PublicAffairs hc, released in March, was a New York Times best seller.-Ed.]-Dale Farris, Groves, TX



--Review
NO_CONTENT_IN_FEATURE

Best Books of the Month
Best Books of the Month
Want to know our Editors' picks for the best books of the month? Browse Best Books of the Month, featuring our favorite new books in more than a dozen categories.

Product Details

  • Audio CD
  • Publisher: Phoenix Audio; Unabridged edition (July 1, 2008)
  • Language: English
  • ISBN-10: 1597772143
  • ASIN: B005SNLBNE
  • Product Dimensions: 5.9 x 1 x 4.9 inches
  • Shipping Weight: 5.6 ounces (View shipping rates and policies)
  • Average Customer Review: 4.2 out of 5 stars  See all reviews (139 customer reviews)
  • Amazon Best Sellers Rank: #579,220 in Books (See Top 100 in Books)

More About the Author

Charles R. Morris is a lawyer and former banker. He has written fourteen books, and is a regular contributor to Politico, Newsweek, Reuters, and many other publications.

Customer Reviews

4.2 out of 5 stars

Most Helpful Customer Reviews

233 of 251 people found the following review helpful By Andy Ross on March 23, 2008
Format: Hardcover
This is a great book for those of you like me who are not in the financial services industry but who want to understand why our economy is melting down as we speak. It will also help you understand why this upcoming election is so important: The author describes the seismic ideological shifts over the last 40 years, from the Liberal/Keynsian era that imploded in the late 70s, to the current dying embers of the Chicago-School free market ideology that has held sway from Reagan up to the present moment. The author believes it is time once again for the pendulum to swing in the direction of more activist, socially conscious government intervention. He is not a liberal ideologue but a former banker who comes to his conclusions based on objectivity, knowledge, and lucid thought. The integrity of his thinking shines through every page. This is not always an easy book to read; due to the subject matter it is rife with all sorts of financial industry acronyms and terms like "tranch" and "quant" and "put", but don't let that throw you. Just keep reading with the big picture in mind and it will all come together in the end. It's well worth the effort!
5 Comments Was this review helpful to you? Yes No Sending feedback...
Thank you for your feedback. If this review is inappropriate, please let us know.
Sorry, we failed to record your vote. Please try again
112 of 123 people found the following review helpful By Gene Jus on March 17, 2008
Format: Hardcover Verified Purchase
I am learning a lot reading this, even though I've followed the economy for years. The preface summarizes the situation and outlines the book, but is maybe slightly dense and technical for the average person. But the first chapter is great for giving perspective on how the US economy has evolved, especially the troubles of the stagflation period and what caused that. The book goes up to November 2007, with a clear understanding that the credit bubble was going to have to unwind, and it was either going to cost $1 trillion, or, if the government tried to paper it over, a lot more.
Comment Was this review helpful to you? Yes No Sending feedback...
Thank you for your feedback. If this review is inappropriate, please let us know.
Sorry, we failed to record your vote. Please try again
55 of 59 people found the following review helpful By Rolf Dobelli HALL OF FAMETOP 1000 REVIEWER on April 18, 2008
Format: Hardcover
In this excellent, highly readable book, Charles R. Morris combines legal and financial experience with literary craft. No ideologue, no partisan and certainly no salesman, Morris traces the roots of the 2007-2008 mortgage securities crisis to its distant origins in the 1970s. He argues that policy missteps under the Nixon, Ford and Carter administrations, when Arthur Burns chaired the Federal Reserve, led to dollar debasement. He contends that the decline of America's currency and its business sector at that time led in turn to the Reagan administration's zeal for deregulation and Chicago-school economics. He details his belief that Alan Greenspan's policies took America from a relatively healthy financial status to a position perhaps as dire as in the late 1970s. Morris also reveals the privileges enjoyed by an out-of-control financial services system. getAbstract found this to be a trenchant and provocative read.
Comment Was this review helpful to you? Yes No Sending feedback...
Thank you for your feedback. If this review is inappropriate, please let us know.
Sorry, we failed to record your vote. Please try again
29 of 31 people found the following review helpful By Izaak VanGaalen on May 5, 2008
Format: Hardcover Verified Purchase
As a lawyer and former investment banker, Charles Morris can appreciate the power of free-market capitalism to drive economic growth and financial innovation. Now, however, he believes the era of market fundamentalism has come to an end, just as Keynesian interventionism came to an end in the 1970s. He estimates conservatively that the recent writedowns and defaults of residential mortgages, corporate debt, credit card debt, and bonds will be about $1 trillion. But this book was written before even more recent revelations such as the Bear Sterns insolvency. It is now estimated that the bill could be 3 or 4 times as high.

Morris gives a brief but excellent history of events that led up to the current credit crunch that is paralyzing global financial markets. Disasters have many fathers, but Morris lays much of the blame on bond rating agencies, financial insurance companies and the Federal Reserve under Alan Greenspan. After 9/11 the Federal Reserve lowered the interest rates below the rate of inflation, essentially giving banks free money. Banks then lent money for fees up front and then repackaged the loans - turned them into securitized debt - and sold them to investors. It was basically cost free and risk free, so they lent money as if there was no tomorrow.

These securitized debts or CDOs (collaterilized debt obligations) were sold and resold throughout the global financial system and no longer did anyone know how to measure their value or their risk.

Add to this the fact that homeowners were using the rising equity of their homes as atms and pumping another $4 trillion into the economy.

Also add to the mix $700 billion annual trade deficit that indicates that much more consumption over production. The party was really in full swing.
Read more ›
1 Comment Was this review helpful to you? Yes No Sending feedback...
Thank you for your feedback. If this review is inappropriate, please let us know.
Sorry, we failed to record your vote. Please try again
90 of 109 people found the following review helpful By serious on March 15, 2008
Format: Hardcover
I rated this book 4 stars for its timeliness.

In my opinion, most people do not even begin to understand what is going on in the credit market and those who could are either in self-denial or lying to the public. This book is an excellent primer on the subject.

I expect that by the time more in-depth books are written the problem will be evident for all to see.

The last chapter, although well intentioned, is highly opinionated. However, the rest of the book is objective.
Comment Was this review helpful to you? Yes No Sending feedback...
Thank you for your feedback. If this review is inappropriate, please let us know.
Sorry, we failed to record your vote. Please try again
29 of 33 people found the following review helpful By Amazon Customer on March 28, 2008
Format: Hardcover Verified Purchase
This is the best explanation of the credit crunch that I have seen to date. Most writers on this subject try to "simplify" their descriptions of CDOs, SIVs etc. in the mistaken belief that they are helping the reader. Instead all that happens is that the average reader never gets to understand what's really going on.

Morris explains the nitty gritty of these financial instruments in good, clear English and that in itself makes the book worth the price.

I would have given this book 5 stars, but for the last chapter. I was hoping for Morris' input on how (and when) this crisis will pan out, and what businees model banks will adopt now that the present one is so broken. Unfortunately Morris gets diverted into a diatribe on health care and other interesting but irrelevant matters, and we never really find out much about his vision of the new world post 2008. That's a shame - but read the book anyway if you want to really understand what's going on in the world of finance today.
Comment Was this review helpful to you? Yes No Sending feedback...
Thank you for your feedback. If this review is inappropriate, please let us know.
Sorry, we failed to record your vote. Please try again

Most Recent Customer Reviews

Set up an Amazon Giveaway

Amazon Giveaway allows you to run promotional giveaways in order to create buzz, reward your audience, and attract new followers and customers. Learn more
The Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crash
This item: The Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crash
Price: $11.18
Ships from and sold by Amazon.com