Money of the Mind: Borrowing and Lending in America from the Civil War to Michael Milken

James L. Grant, Author Farrar Straus Giroux $30 (513p) ISBN 978-0-374-16979-4
In a colorful, entertaining and wickedly witty history, financial analyst Grant charts the gradual relaxation of lending practices in the United States from the Progressive era, when the government became a banker and guarantor of other banks, to the 1980s boom, when banks competed to finance office buildings and debt service amounted to 14% of disposable personal income for the average American. His panorama of the cyclical expansion and contraction of credit spotlights such key figures as Arthur Morris, an early proselytizer for consumer credit; George Baker, whose First National Bank of New York refused most loan applicants in the 1880s; Chase Manhattan president George Champion; and Citicorp chairman Walter Wriston. Grant ( Bernard M. Baruch ) provides a chilling perspective on our debt-ridden economy by showing how financial mistakes of the 1920s wre repeated with only slight variations in the '70s and '80s. (June)
Reviewed on: 06/01/1992
Release date: 06/01/1992
X
Stay ahead with
Tip Sheet!
Free newsletter: the hottest new books, features and more
X
Only $18.95/month for Digital Access
or $20.95 for Print+Digital Access!
X
Only $18.95/month for Digital Access
or $20.95 for Print+Digital Access!
X
Email Address

Password

Log In Lost Password

PW has integrated its print and digital subscriptions, offering exciting new benefits to subscribers, who are now entitled to both the print edition and the digital editions of PW (online or via our app). For instructions on how to set up your accout for digital access, click here. For more information, click here.

The part of the site you are trying to access is now available to subscribers only. Subscribers: to set up your digital subscription with the new system (if you have not done so already), click here. To subscribe, click here.

Email pw@pubservice.com with questions.

Not Registered? Click here.