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

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Money of the Mind: Borrowing and Lending in America from the Civil War to Michael Milken - Grant, James L
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The 1980s witnessed a lemming-like rush into the sea of debt on the part of the American industrial and financial communities, with consequences we are only beginning to appreciate. But the speculative frenzy of the eighties didn't just happen. It was the culmination of a long cycle of slow relaxation of credit practices--the subject of James Grant's brilliant, clear-eyed history of American finance. Two long-running trends converged in the 1980s to create one of our greatest speculative booms: the democratization of credit ...

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