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A First-Class Catastrophe: The Road to Black Monday, the Worst Day in Wall Street History

Author: Henriques, Diana B.

Publisher: Harper Collins Publisher


Scratch & Dent Copy

List Price:$32.00
Our Price:$7.99 (75% OFF) USD


A First-Class Catastrophe: The Road to Black Monday, the Worst Day in Wall Street History : 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 one-day loss of nearly 5,000 points today.

Black Monday was more than seven years in the making and threatened nearly every U.S. financial institution. Drawing on superlative archival research and dozens of original interviews Diana B. Henriques weaves a tale of missed opportunities, market delusions, and destructive actions that stretched from the "silver crisis" of 1980 to turf battles in Washington, a poisonous rivalry between the New York Stock Exchange and the Chicago Mercantile Exchange, and the almost-fatal success of two California professors whose idea for reducing market risk spun terribly out of control. As the story hurtles forward, the players struggle to forestall a looming market meltdown and unexpected heroes step in to avert total disaster.

For thirty years, investors, regulators, and bankers have failed to heed the lessons of 1987, even as the same patterns have resurfaced, most spectacularly in the financial crisis of 2008. A First-Class Catastrophe offers a new way of looking not only at the past, but at our financial future as well. NOTE: This is a Scratch and Dent book and may have noticeable dents, scratches and various other cosmetic issues as well as torn or missing dust jacket. These items are only guaranteed to be structurally complete and readable and therefore are sold as is.

Category   Subject
Business & Economics   Economic History
History & Geography   United States

ISBN 13:9781627791649
ISBN 10:1627791647
Size:9.46" l x 6.24" w x 1.32" h
Grade Lvl: